Villanova Investment Management Co LLC Lowers Stock Position in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Villanova Investment Management Co LLC trimmed its stake in Northrim BanCorp, Inc. (NASDAQ:NRIM) by 1.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,605 shares of the financial services provider’s stock after selling 251 shares during the period. Villanova Investment Management Co LLC’s holdings in Northrim BanCorp were worth $1,216,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Northrim BanCorp by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 15,677 shares of the financial services provider’s stock worth $1,117,000 after purchasing an additional 457 shares in the last quarter. FMR LLC raised its holdings 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 valued at $123,000 after buying an additional 201 shares during the period. Martingale Asset Management L P lifted its stake in Northrim BanCorp by 13.8% during the 3rd quarter. Martingale Asset Management L P now owns 6,967 shares of the financial services provider’s stock worth $496,000 after acquiring an additional 846 shares in the last quarter. State Street Corp lifted its stake in Northrim BanCorp by 8.0% during the 3rd quarter. State Street Corp now owns 107,568 shares of the financial services provider’s stock worth $7,661,000 after acquiring an additional 8,012 shares in the last quarter. Finally, Zacks Investment Management boosted its holdings in Northrim BanCorp by 8.7% during the 3rd quarter. Zacks Investment Management now owns 44,208 shares of the financial services provider’s stock valued at $3,148,000 after acquiring an additional 3,550 shares during the period. 65.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Michael G. Huston sold 453 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $89.18, for a total value of $40,398.54. Following the sale, the chief executive officer now directly owns 23,759 shares in the company, valued at approximately $2,118,827.62. This trade represents a 1.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is owned by insiders.

Northrim BanCorp Stock Performance

NASDAQ:NRIM opened at $73.22 on Tuesday. Northrim BanCorp, Inc. has a 52 week low of $43.92 and a 52 week high of $91.72. The company has a fifty day simple moving average of $80.11 and a two-hundred day simple moving average of $77.27. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The company has a market cap of $404.25 million, a price-to-earnings ratio of 11.06 and a beta of 0.82.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings results on Friday, January 24th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.72. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. As a group, equities analysts anticipate that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current fiscal year.

Northrim BanCorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were issued a $0.64 dividend. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, March 6th. This represents a $2.56 annualized dividend and a yield of 3.50%. Northrim BanCorp’s dividend payout ratio (DPR) is 38.67%.

Analysts Set New Price Targets

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

Northrim BanCorp 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.