Northrim BanCorp, Inc. (NASDAQ:NRIM) EVP Michael A. Martin sold 520 shares of the company’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $38.60, for a total transaction of $20,072.00. Following the completion of the transaction, the executive vice president now owns 4,432 shares in the company, valued at approximately $171,075.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of Northrim BanCorp opened at $39.55 on Friday, Marketbeat.com reports. Northrim BanCorp, Inc. has a 12-month low of $26.31 and a 12-month high of $40.90. The company has a market cap of $269.73 million, a price-to-earnings ratio of 16.77 and a beta of 0.73. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09.
Northrim BanCorp (NASDAQ:NRIM) last announced its earnings results on Monday, April 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.16. The firm had revenue of $21.73 million for the quarter, compared to analyst estimates of $21.50 million. Northrim BanCorp had a net margin of 13.47% and a return on equity of 8.45%. equities analysts expect that Northrim BanCorp, Inc. will post 2.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Thursday, June 7th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, June 6th. This represents a $0.96 annualized dividend and a dividend yield of 2.43%. Northrim BanCorp’s dividend payout ratio is 47.06%.
A number of research analysts recently commented on NRIM shares. ValuEngine lowered shares of Northrim BanCorp from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Northrim BanCorp from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research note on Tuesday, May 8th. Finally, BidaskClub upgraded shares of Northrim BanCorp from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 11th.
Several hedge funds and other institutional investors have recently bought and sold shares of NRIM. The Manufacturers Life Insurance Company boosted its position in shares of Northrim BanCorp by 16.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 260,913 shares of the financial services provider’s stock worth $9,014,000 after acquiring an additional 36,793 shares in the last quarter. Acuitas Investments LLC bought a new position in Northrim BanCorp in the 1st quarter valued at approximately $821,000. Martingale Asset Management L P lifted its stake in Northrim BanCorp by 39.3% in the 4th quarter. Martingale Asset Management L P now owns 47,519 shares of the financial services provider’s stock valued at $1,609,000 after purchasing an additional 13,408 shares during the last quarter. Stone Ridge Asset Management LLC bought a new position in Northrim BanCorp in the 4th quarter valued at approximately $287,000. Finally, MetLife Investment Advisors LLC bought a new position in Northrim BanCorp in the 4th quarter valued at approximately $119,000. Institutional investors and hedge funds own 70.53% of the company’s 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 professionals in Alaska. The company operates in two segments, Community Banking and Home Mortgage Lending. It offers various deposit products, including noninterest-bearing checking accounts and interest-bearing time deposits, checking accounts, and savings accounts, as well as money market deposit accounts, certificates of deposit, and courier noncash deposits.
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