Ritholtz Wealth Management Buys Shares of 3,171 Northrim BanCorp, Inc. (NASDAQ:NRIM)

Ritholtz Wealth Management purchased a new position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,171 shares of the financial services provider’s stock, valued at approximately $226,000. Ritholtz Wealth Management owned approximately 0.06% of Northrim BanCorp at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in Northrim BanCorp during the 3rd quarter valued at about $142,000. Fulton Bank N.A. purchased a new stake in shares of Northrim BanCorp during the third quarter worth about $214,000. Sei Investments Co. increased its holdings in shares of Northrim BanCorp by 15.0% during the second quarter. Sei Investments Co. now owns 4,598 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 600 shares in the last quarter. 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 valued at $386,000 after purchasing an additional 169 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Northrim BanCorp by 48.6% in the 1st quarter. BNP Paribas Financial Markets now owns 9,129 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 2,986 shares in the last quarter. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Northrim BanCorp Trading Up 1.4 %

Shares of Northrim BanCorp stock opened at $72.81 on Friday. The firm’s 50 day simple moving average is $67.46 and its two-hundred day simple moving average is $59.45. The firm has a market capitalization of $400.46 million, a price-to-earnings ratio of 14.19 and a beta of 0.71. Northrim BanCorp, Inc. has a 12-month low of $38.65 and a 12-month high of $74.34. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 0.22.

Northrim BanCorp (NASDAQ:NRIM) last released its earnings results on Wednesday, July 24th. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.31. Northrim BanCorp had a return on equity of 13.61% and a net margin of 18.41%. The firm had revenue of $46.49 million for the quarter, compared to the consensus estimate of $35.00 million. Analysts predict that Northrim BanCorp, Inc. will post 5.83 EPS for the current year.

Northrim BanCorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, September 5th were issued a dividend of $0.62 per share. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.41%. Northrim BanCorp’s payout ratio is 48.34%.

Insider Activity at Northrim BanCorp

In other Northrim BanCorp news, Director Joseph Marushack acquired 493 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $60.22 per share, for a total transaction of $29,688.46. Following the purchase, the director now owns 2,768 shares in the company, valued at approximately $166,688.96. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.10% of the stock is owned by 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.