Northrim BanCorp, Inc. (NASDAQ:NRIM) Director Marilyn Romano Purchases 200 Shares

Northrim BanCorp, Inc. (NASDAQ:NRIM) Director Marilyn Romano acquired 200 shares of the business’s stock in a transaction on Monday, March 24th. The stock was bought at an average cost of $75.63 per share, for a total transaction of $15,126.00. Following the completion of the transaction, the director now directly owns 1,207 shares of the company’s stock, valued at $91,285.41. This trade represents a 19.86 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Northrim BanCorp Price Performance

Shares of NRIM stock opened at $74.97 on Friday. The firm has a fifty day simple moving average of $80.31 and a 200-day simple moving average of $77.03. The company has a market capitalization of $413.91 million, a PE ratio of 11.32 and a beta of 0.82. Northrim BanCorp, Inc. has a twelve month low of $43.92 and a twelve month high of $91.72. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings data on Friday, January 24th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.72. Northrim BanCorp had a net margin of 18.87% and a return on equity of 14.86%. Equities research analysts anticipate that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current fiscal year.

Northrim BanCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.64 per share. The ex-dividend date was Thursday, March 6th. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a yield of 3.41%. Northrim BanCorp’s payout ratio is currently 38.67%.

Hedge Funds Weigh In On Northrim BanCorp

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its position in shares of Northrim BanCorp by 57.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 366 shares of the financial services provider’s stock worth $29,000 after buying an additional 133 shares in the last quarter. DecisionPoint Financial LLC acquired a new position in Northrim BanCorp during the 4th quarter worth $39,000. Quantbot Technologies LP acquired a new position in Northrim BanCorp during the 4th quarter worth $112,000. FMR LLC increased its position in shares of Northrim BanCorp by 13.1% in the 3rd quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 201 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Northrim BanCorp by 25.8% in the 4th quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 513 shares in the last quarter. 65.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Hovde Group began coverage on Northrim BanCorp in a report on Friday, December 20th. They set an “outperform” rating and a $96.50 target price on the stock.

Northrim BanCorp Company Profile

Northrim BanCorp, Inc operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals. It operates through two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, individual retirement and money market deposit accounts, certificates of deposit, and business sweep accounts.