Northrim BanCorp Inc (NRIM) Shares Sold by Kennedy Capital Management Inc.
Kennedy Capital Management Inc. reduced its stake in Northrim BanCorp Inc (NASDAQ:NRIM) by 3.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,189 shares of the financial services provider’s stock after selling 5,341 shares during the period. Kennedy Capital Management Inc. owned about 2.43% of Northrim BanCorp worth $5,113,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the stock. LSV Asset Management boosted its position in Northrim BanCorp by 7.8% during the 2nd quarter. LSV Asset Management now owns 171,167 shares of the financial services provider’s stock worth $5,203,000 after buying an additional 12,322 shares during the period. Brandes Investment Partners LP boosted its position in Northrim BanCorp by 19.1% during the 2nd quarter. Brandes Investment Partners LP now owns 50,765 shares of the financial services provider’s stock worth $1,544,000 after buying an additional 8,158 shares during the period. Rhumbline Advisers acquired a new stake in Northrim BanCorp during the 2nd quarter worth approximately $222,000. First Trust Advisors LP acquired a new stake in Northrim BanCorp during the 2nd quarter worth approximately $497,000. Finally, Schwab Charles Investment Management Inc. boosted its position in Northrim BanCorp by 147.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 35,306 shares of the financial services provider’s stock worth $1,074,000 after buying an additional 21,025 shares during the period. Institutional investors and hedge funds own 71.15% of the company’s stock.
Separately, ValuEngine upgraded shares of Northrim BanCorp from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th.
Shares of Northrim BanCorp Inc (NASDAQ NRIM) opened at 30.30 on Friday. The firm has a market capitalization of $209.37 million, a P/E ratio of 15.07 and a beta of 0.59. Northrim BanCorp Inc has a 52-week low of $24.35 and a 52-week high of $33.00. The company’s 50-day moving average is $28.64 and its 200 day moving average is $29.81.
Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings results on Monday, July 31st. The financial services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. Northrim BanCorp had a net margin of 14.15% and a return on equity of 8.33%. The business had revenue of $23.96 million for the quarter, compared to analysts’ expectations of $24.70 million. Analysts expect that Northrim BanCorp Inc will post $2.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, September 7th will be given a dividend of $0.22 per share. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Wednesday, September 6th. Northrim BanCorp’s dividend payout ratio (DPR) is presently 43.78%.
About Northrim BanCorp
Northrim BanCorp, Inc is a bank holding company. The Company operates in two segments: Community Banking and Home Mortgage Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. The Community Banking segment operates approximately 10 branches throughout Alaska.
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