Northrim BanCorp (NASDAQ:NRIM) Director David Mccambridge Acquires 1,150 Shares

Northrim BanCorp Inc (NASDAQ:NRIM) Director David Mccambridge purchased 1,150 shares of Northrim BanCorp stock in a transaction that occurred on Tuesday, December 9th. The shares were bought at an average cost of $24.87 per share, with a total value of $28,600.50. Following the completion of the transaction, the director directly owned 41,598 shares of the company’s stock, valued at approximately $1,034,542.26. The trade was a 2.84% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Northrim BanCorp Stock Up 1.4%

Shares of NASDAQ:NRIM traded up $0.37 during trading on Thursday, hitting $26.71. 22,777 shares of the company were exchanged, compared to its average volume of 177,540. Northrim BanCorp Inc has a fifty-two week low of $16.17 and a fifty-two week high of $26.75. The stock has a market cap of $590.02 million, a price-to-earnings ratio of 9.52 and a beta of 0.98. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average price of $22.81 and a two-hundred day moving average price of $22.68.

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, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $50.60 million. As a group, research analysts anticipate that Northrim BanCorp Inc will post 8.05 earnings per share for the current fiscal year.

Northrim BanCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Thursday, December 18th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, December 18th. Northrim BanCorp’s dividend payout ratio (DPR) is 22.78%.

Institutional Investors Weigh In On Northrim BanCorp

A number of institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. grew its position in shares of Northrim BanCorp by 388.6% in the first quarter. Federated Hermes Inc. now owns 342 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 272 shares during the last quarter. XTX Topco Ltd bought a new stake in Northrim BanCorp in the 1st quarter valued at $225,000. US Bancorp DE bought a new stake in Northrim BanCorp in the 1st quarter valued at $37,000. Vanguard Group Inc. grew its holdings in Northrim BanCorp by 10.8% in the 1st quarter. Vanguard Group Inc. now owns 333,609 shares of the financial services provider’s stock valued at $24,427,000 after buying an additional 32,492 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Northrim BanCorp by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,668 shares of the financial services provider’s stock worth $1,147,000 after buying an additional 387 shares during the period. Institutional investors own 65.99% of the company’s stock.

Analyst Ratings Changes

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

About Northrim BanCorp

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.