Insider Selling: Northrim BanCorp (NASDAQ:NRIM) EVP Sells $356,622.72 in Stock

Northrim BanCorp Inc (NASDAQ:NRIM) EVP Jason Alexander Criqui sold 13,488 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $26.44, for a total value of $356,622.72. Following the sale, the executive vice president owned 12,653 shares of the company’s stock, valued at $334,545.32. This represents a 51.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Northrim BanCorp Price Performance

Shares of Northrim BanCorp stock opened at $26.99 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.91. The business’s 50 day simple moving average is $26.40 and its two-hundred day simple moving average is $25.10. The stock has a market capitalization of $600.53 million, a P/E ratio of 8.88 and a beta of 0.88. Northrim BanCorp Inc has a one year low of $19.60 and a one year high of $30.82.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. Northrim BanCorp had a return on equity of 17.33% and a net margin of 26.03%.The firm had revenue of $53.79 million during the quarter, compared to analyst estimates of $51.80 million. Analysts forecast that Northrim BanCorp Inc will post 2.53 EPS for the current year.

Northrim BanCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 11th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, June 11th. Northrim BanCorp’s dividend payout ratio is currently 21.05%.

Institutional Trading of Northrim BanCorp

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 1,254,870 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of 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 purchasing an additional 960,299 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Northrim BanCorp by 18.5% in the 4th quarter. Geode Capital Management LLC now owns 727,180 shares of the financial services provider’s stock worth $19,353,000 after buying an additional 113,293 shares during the last quarter. De Lisle Partners LLP grew its stake in shares of Northrim BanCorp by 3.9% in the 4th quarter. De Lisle Partners LLP now owns 460,708 shares of the financial services provider’s stock worth $12,268,000 after buying an additional 17,296 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. increased its position in Northrim BanCorp by 7.8% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 326,410 shares of the financial services provider’s stock valued at $7,468,000 after buying an additional 23,510 shares in the last quarter. Institutional investors own 65.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NRIM. Weiss Ratings reissued a “buy (b)” rating on shares of Northrim BanCorp in a report on Tuesday, June 16th. Keefe, Bruyette & Woods started coverage on shares of Northrim BanCorp in a report on Wednesday, July 1st. They set a “market perform” rating and a $30.00 target price for the company. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Northrim BanCorp presently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

About Northrim BanCorp

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.