Northrim BanCorp (NASDAQ:NRIM) Director Shauna Hegna Acquires 1,186 Shares

Northrim BanCorp Inc (NASDAQ:NRIM) Director Shauna Hegna bought 1,186 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were purchased at an average price of $25.25 per share, for a total transaction of $29,946.50. Following the transaction, the director owned 1,638 shares of the company’s stock, valued at $41,359.50. The trade was a 262.39% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Northrim BanCorp Trading Up 5.3%

Shares of NRIM stock traded up $1.32 during trading hours on Wednesday, hitting $26.16. 89,629 shares of the company were exchanged, compared to its average volume of 177,359. Northrim BanCorp Inc has a 1 year low of $16.17 and a 1 year high of $26.10. The firm has a fifty day moving average of $22.71 and a 200 day moving average of $22.65. The firm has a market cap of $577.87 million, a PE ratio of 9.31 and a beta of 0.98. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 0.07.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. Northrim BanCorp had a return on equity of 18.12% and a net margin of 25.32%.The company had revenue of $66.59 million for the quarter, compared to the consensus estimate of $50.60 million. Analysts expect that Northrim BanCorp Inc will post 8.05 earnings per share for the current year.

Northrim BanCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Thursday, December 18th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, December 18th. Northrim BanCorp’s dividend payout ratio is currently 22.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Hovde Group boosted their price objective on Northrim BanCorp from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Zacks Research raised Northrim BanCorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. Wall Street Zen upgraded Northrim BanCorp from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Northrim BanCorp in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $33.00.

Hedge Funds Weigh In On Northrim BanCorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Northrim BanCorp by 326.4% in the third quarter. Vanguard Group Inc. now owns 1,639,351 shares of the financial services provider’s stock worth $35,508,000 after buying an additional 1,254,870 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Northrim BanCorp by 248.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,346,512 shares of the financial services provider’s stock worth $29,166,000 after acquiring an additional 960,299 shares during the period. American Century Companies Inc. lifted its position in Northrim BanCorp by 344.3% during the 3rd quarter. American Century Companies Inc. now owns 665,888 shares of the financial services provider’s stock worth $14,423,000 after acquiring an additional 516,030 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its position in Northrim BanCorp by 1,148.3% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 247,496 shares of the financial services provider’s stock worth $5,361,000 after acquiring an additional 227,669 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Northrim BanCorp by 239.7% during the third quarter. Ameriprise Financial Inc. now owns 302,192 shares of the financial services provider’s stock valued at $6,545,000 after acquiring an additional 213,238 shares during the period. Institutional investors and hedge funds own 65.99% 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 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.