Rosenthal Henry Capital Advisors Inc. Has $2.29 Million Position in Northrim BanCorp Inc $NRIM

Rosenthal Henry Capital Advisors Inc. decreased its position in Northrim BanCorp Inc (NASDAQ:NRIM) by 16.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,870 shares of the financial services provider’s stock after selling 20,130 shares during the period. Northrim BanCorp comprises approximately 2.2% of Rosenthal Henry Capital Advisors Inc.’s holdings, making the stock its 16th largest holding. Rosenthal Henry Capital Advisors Inc. owned 0.45% of Northrim BanCorp worth $2,285,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of Northrim BanCorp by 21.5% during the 1st quarter. Royal Bank of Canada now owns 39,505 shares of the financial services provider’s stock worth $2,892,000 after acquiring an additional 6,990 shares during the period. Cubist Systematic Strategies LLC bought a new position in Northrim BanCorp during the first quarter worth about $210,000. AQR Capital Management LLC boosted its holdings in Northrim BanCorp by 171.3% during the first quarter. AQR Capital Management LLC now owns 13,352 shares of the financial services provider’s stock valued at $978,000 after purchasing an additional 8,431 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Northrim BanCorp by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,182 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 156 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Northrim BanCorp by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 28,470 shares of the financial services provider’s stock worth $2,085,000 after buying an additional 6,599 shares in the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NRIM. Keefe, Bruyette & Woods initiated coverage on shares of Northrim BanCorp in a research report on Wednesday. They set a “market perform” rating and a $30.00 target price for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Northrim BanCorp in a report on Tuesday, June 16th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.50.

Northrim BanCorp Price Performance

NRIM opened at $27.72 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.91. The stock has a market capitalization of $616.77 million, a P/E ratio of 9.62 and a beta of 0.86. The company’s 50 day simple moving average is $24.99 and its 200-day simple moving average is $25.14. Northrim BanCorp Inc has a one year low of $19.60 and a one year high of $30.82.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.08. The firm had revenue of $49.46 million for the quarter, compared to the consensus estimate of $50.60 million. Northrim BanCorp had a return on equity of 16.99% and a net margin of 24.91%. Sell-side analysts anticipate that Northrim BanCorp Inc will post 2.6 earnings per share for the current fiscal year.

Northrim BanCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 11th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, June 11th. Northrim BanCorp’s dividend payout ratio is 22.22%.

Northrim BanCorp Profile

Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.

With branches located across Alaska’s major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.