Insider Buying: Northrim BanCorp, Inc. (NASDAQ:NRIM) Director Buys 200 Shares of Stock

Northrim BanCorp, Inc. (NASDAQ:NRIM) Director Marilyn Romano purchased 200 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was bought at an average cost of $75.63 per share, with a total value of $15,126.00. Following the acquisition, the director now owns 1,207 shares of the company’s stock, valued at approximately $91,285.41. The trade was a 19.86 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Northrim BanCorp Stock Performance

Shares of NASDAQ:NRIM traded down $0.92 during midday trading on Tuesday, reaching $74.64. The company’s stock had a trading volume of 19,902 shares, compared to its average volume of 27,387. Northrim BanCorp, Inc. has a twelve month low of $43.92 and a twelve month high of $91.72. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $412.09 million, a PE ratio of 11.27 and a beta of 0.82. The stock has a fifty day moving average of $80.41 and a 200 day moving average of $77.06.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings results on Friday, January 24th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.72. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. On average, equities analysts expect that Northrim BanCorp, Inc. will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.64 per share. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Thursday, March 6th. Northrim BanCorp’s dividend payout ratio is presently 38.67%.

Analysts Set New Price Targets

Separately, Hovde Group started coverage on Northrim BanCorp in a report on Friday, December 20th. They issued an “outperform” rating and a $96.50 price objective on the stock.

Hedge Funds Weigh In On Northrim BanCorp

Institutional investors and hedge funds have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Northrim BanCorp during the 4th quarter valued at approximately $725,000. Two Sigma Investments LP lifted its holdings in Northrim BanCorp by 12.6% during the fourth quarter. Two Sigma Investments LP now owns 7,612 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 853 shares in the last quarter. Man Group plc acquired a new stake in shares of Northrim BanCorp in the fourth quarter valued at about $217,000. Occudo Quantitative Strategies LP purchased a new stake in shares of Northrim BanCorp during the fourth quarter worth about $221,000. Finally, Millennium Management LLC acquired a new position in shares of Northrim BanCorp during the 4th quarter worth about $548,000. Hedge funds and other institutional investors own 65.99% of the company’s stock.

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.