Northrim BanCorp, Inc. (NASDAQ:NRIM) Shares Bought by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC boosted its position in Northrim BanCorp, Inc. (NASDAQ:NRIM) by 14.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,196 shares of the financial services provider’s stock after acquiring an additional 1,799 shares during the period. Northrim BanCorp comprises approximately 1.2% of Redmont Wealth Advisors LLC’s holdings, making the stock its 23rd biggest holding. Redmont Wealth Advisors LLC’s holdings in Northrim BanCorp were worth $812,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Lazard Asset Management LLC acquired a new position in Northrim BanCorp during the third quarter worth approximately $29,000. FMR LLC increased its holdings in shares of Northrim BanCorp by 29.2% during the 3rd quarter. FMR LLC now owns 1,182 shares of the financial services provider’s stock worth $47,000 after buying an additional 267 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Northrim BanCorp during the 3rd quarter worth $53,000. California State Teachers Retirement System purchased a new position in shares of Northrim BanCorp in the 2nd quarter worth $72,000. Finally, Advisor Group Holdings Inc. boosted its holdings in Northrim BanCorp by 10.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,956 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Northrim BanCorp Trading Up 1.2 %

NRIM stock traded up $0.55 during trading on Friday, reaching $45.62. 10,707 shares of the stock traded hands, compared to its average volume of 11,557. The business’s 50 day moving average price is $48.60 and its 200-day moving average price is $48.84. The firm has a market capitalization of $250.91 million, a PE ratio of 10.04 and a beta of 0.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.79 and a quick ratio of 0.78. Northrim BanCorp, Inc. has a 52-week low of $33.29 and a 52-week high of $59.90.

Northrim BanCorp (NASDAQ:NRIM) last posted its earnings results on Thursday, January 25th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.05). Northrim BanCorp had a return on equity of 11.22% and a net margin of 16.04%. The business had revenue of $33.22 million for the quarter, compared to analyst estimates of $33.60 million. As a group, sell-side analysts forecast that Northrim BanCorp, Inc. will post 5 earnings per share for the current year.

Northrim BanCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, March 7th were given a $0.61 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.60. This represents a $2.44 annualized dividend and a yield of 5.35%. Northrim BanCorp’s dividend payout ratio (DPR) is 54.34%.

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.