Northrim BanCorp Inc (NRIM) Cut to Sell at Zacks Investment Research
Zacks Investment Research downgraded shares of Northrim BanCorp Inc (NASDAQ:NRIM) from a hold rating to a sell rating in a research report report published on Wednesday.
According to Zacks, “Northrim BanCorp, Inc. is a full-service commercial bank that provides a full range of personal and business banking services. “
Separately, ValuEngine raised shares of Northrim BanCorp from a hold rating to a buy rating in a report on Tuesday, August 8th.
Shares of Northrim BanCorp (NASDAQ:NRIM) traded down $0.15 during midday trading on Wednesday, reaching $33.00. 9,500 shares of the company’s stock were exchanged, compared to its average volume of 17,380. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. Northrim BanCorp has a 1 year low of $25.75 and a 1 year high of $36.70. The company has a market capitalization of $226.16, a PE ratio of 13.98 and a beta of 0.70.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in NRIM. FMR LLC raised its holdings in shares of Northrim BanCorp by 467.6% during the first quarter. FMR LLC now owns 156,669 shares of the financial services provider’s stock valued at $4,708,000 after buying an additional 129,069 shares during the last quarter. Seizert Capital Partners LLC bought a new stake in shares of Northrim BanCorp during the third quarter valued at approximately $3,419,000. Martingale Asset Management L P bought a new stake in shares of Northrim BanCorp during the second quarter valued at approximately $1,038,000. Legato Capital Management LLC bought a new stake in shares of Northrim BanCorp during the second quarter valued at approximately $861,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Northrim BanCorp by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 522,570 shares of the financial services provider’s stock valued at $15,886,000 after buying an additional 27,018 shares during the last quarter. 73.21% of the stock is currently owned by institutional investors.
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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