LSV Asset Management lessened its holdings in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM – Free Report) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 151,670 shares of the financial services provider’s stock after selling 5,846 shares during the quarter. LSV Asset Management owned approximately 2.76% of Northrim BanCorp worth $8,742,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in NRIM. Principal Securities Inc. purchased a new position in shares of Northrim BanCorp in the 4th quarter worth $28,000. BNP Paribas Financial Markets raised its position in shares of Northrim BanCorp by 30.0% in the 4th quarter. BNP Paribas Financial Markets now owns 6,143 shares of the financial services provider’s stock worth $351,000 after buying an additional 1,417 shares during the period. Rhumbline Advisers raised its position in shares of Northrim BanCorp by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 6,703 shares of the financial services provider’s stock worth $386,000 after buying an additional 169 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Northrim BanCorp by 19.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 9,741 shares of the financial services provider’s stock worth $561,000 after buying an additional 1,561 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Northrim BanCorp by 8.1% in the 1st quarter. Empowered Funds LLC now owns 18,499 shares of the financial services provider’s stock worth $934,000 after buying an additional 1,390 shares during the period. 65.99% of the stock is owned by hedge funds and other institutional investors.
Northrim BanCorp Trading Down 1.7 %
NASDAQ:NRIM opened at $66.20 on Thursday. The business’s 50-day moving average is $64.58 and its two-hundred day moving average is $55.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.79. Northrim BanCorp, Inc. has a 12 month low of $38.25 and a 12 month high of $74.34. The firm has a market capitalization of $364.10 million, a PE ratio of 12.90 and a beta of 0.71.
Northrim BanCorp Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, September 5th will be given a $0.62 dividend. The ex-dividend date is Thursday, September 5th. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 3.75%. Northrim BanCorp’s dividend payout ratio (DPR) is 48.34%.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered Northrim BanCorp from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st.
Get Our Latest Stock Analysis on Northrim BanCorp
Insider Buying and Selling at Northrim BanCorp
In related news, Director Joseph Marushack acquired 493 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $60.22 per share, with a total value of $29,688.46. Following the completion of the transaction, the director now directly owns 2,768 shares of the company’s stock, valued at approximately $166,688.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.
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.
Further Reading
- Five stocks we like better than Northrim BanCorp
- NYSE Stocks Give Investors a Variety of Quality Options
- Goldilocks CPI Report Leads Market to Sell Off, Lower Lows Ahead
- How to Calculate Retirement Income: MarketBeat’s Calculator
- GameStop: Earnings Won’t Save It, Dilution Points to Trouble
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- Dividend Aristocrats or Dividend Kings: Which Is Best for You?
Receive News & Ratings for Northrim BanCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrim BanCorp and related companies with MarketBeat.com's FREE daily email newsletter.