Wells Fargo & Company MN grew its stake in Northrim BanCorp, Inc. (NASDAQ:NRIM) by 50.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,450 shares of the financial services provider’s stock after purchasing an additional 3,494 shares during the quarter. Wells Fargo & Company MN’s holdings in Northrim BanCorp were worth $366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Nationwide Fund Advisors raised its holdings in Northrim BanCorp by 37.7% in the 2nd quarter. Nationwide Fund Advisors now owns 6,214 shares of the financial services provider’s stock worth $189,000 after purchasing an additional 1,700 shares in the last quarter. Vanguard Group Inc. raised its holdings in Northrim BanCorp by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 240,905 shares of the financial services provider’s stock worth $7,323,000 after purchasing an additional 1,773 shares in the last quarter. Northern Trust Corp raised its holdings in Northrim BanCorp by 3.9% in the 2nd quarter. Northern Trust Corp now owns 83,498 shares of the financial services provider’s stock worth $2,539,000 after purchasing an additional 3,128 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Northrim BanCorp by 119.1% in the 2nd quarter. New York State Common Retirement Fund now owns 8,092 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 4,399 shares in the last quarter. Finally, Foundry Partners LLC raised its holdings in Northrim BanCorp by 8.1% in the 3rd quarter. Foundry Partners LLC now owns 61,865 shares of the financial services provider’s stock worth $2,162,000 after purchasing an additional 4,650 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

Northrim BanCorp, Inc. (NASDAQ:NRIM) opened at $33.45 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market cap of $229.87, a PE ratio of 14.48 and a beta of 0.76. Northrim BanCorp, Inc. has a 12 month low of $26.31 and a 12 month high of $38.15.

Several research analysts have commented on the stock. ValuEngine upgraded shares of Northrim BanCorp from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded shares of Northrim BanCorp from a “sell” rating to a “hold” rating and set a $38.00 price target for the company in a research note on Saturday, December 30th.

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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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Institutional Ownership by Quarter for Northrim BanCorp (NASDAQ:NRIM)

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