Renaissance Technologies LLC Acquires 5,800 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

Renaissance Technologies LLC grew its stake in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 27.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 27,100 shares of the financial services provider’s stock after purchasing an additional 5,800 shares during the period. Renaissance Technologies LLC’s holdings in Northrim BanCorp were worth $1,562,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NRIM. Rhumbline Advisers raised its position in Northrim BanCorp by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 6,703 shares of the financial services provider’s stock valued at $386,000 after buying an additional 169 shares during the last quarter. Huber Capital Management LLC raised its holdings in shares of Northrim BanCorp by 0.4% in the first quarter. Huber Capital Management LLC now owns 56,079 shares of the financial services provider’s stock valued at $2,833,000 after purchasing an additional 200 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Northrim BanCorp by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 47,275 shares of the financial services provider’s stock valued at $2,725,000 after purchasing an additional 1,149 shares in the last quarter. Empowered Funds LLC boosted its holdings in Northrim BanCorp by 8.1% during the first quarter. Empowered Funds LLC now owns 18,499 shares of the financial services provider’s stock worth $934,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in 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 purchasing an additional 1,561 shares in the last quarter. Institutional investors own 65.99% of the company’s stock.

Insider Buying and Selling

In related news, Director Joseph Marushack bought 493 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were purchased at an average cost of $60.22 per share, for a total transaction of $29,688.46. Following the completion of the purchase, the director now directly owns 2,768 shares in the company, valued at $166,688.96. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 4.10% of the stock is currently owned by corporate insiders.

Northrim BanCorp Price Performance

Northrim BanCorp stock opened at $68.24 on Friday. Northrim BanCorp, Inc. has a 52 week low of $38.46 and a 52 week high of $74.34. The company’s 50 day moving average price is $66.74 and its two-hundred day moving average price is $58.27. The stock has a market cap of $375.32 million, a P/E ratio of 13.30 and a beta of 0.71. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 0.22.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.31. The business had revenue of $46.49 million for the quarter, compared to analyst estimates of $35.00 million. Northrim BanCorp had a return on equity of 13.61% and a net margin of 18.41%. On average, equities analysts predict that Northrim BanCorp, Inc. will post 5.83 earnings per share for the current year.

Northrim BanCorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, September 5th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.48 annualized dividend and a yield of 3.63%. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.61. Northrim BanCorp’s dividend payout ratio is presently 48.34%.

Northrim BanCorp Profile

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.