Los Angeles Capital Management LLC Grows Position in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Los Angeles Capital Management LLC grew its position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 32.8% during the third quarter, Holdings Channel.com reports. The fund owned 12,936 shares of the financial services provider’s stock after purchasing an additional 3,195 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Northrim BanCorp were worth $921,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Northrim BanCorp during the 3rd quarter valued at $142,000. Fulton Bank N.A. bought a new position in Northrim BanCorp during the third quarter valued at about $214,000. Ritholtz Wealth Management purchased a new stake in Northrim BanCorp during the third quarter worth about $226,000. Sei Investments Co. raised its position in Northrim BanCorp by 15.0% in the second quarter. Sei Investments Co. now owns 4,598 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 600 shares during the period. Finally, Rhumbline Advisers boosted its stake in Northrim BanCorp by 2.6% in the second quarter. Rhumbline Advisers now owns 6,703 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Northrim BanCorp Stock Down 2.2 %

Northrim BanCorp stock opened at $82.85 on Friday. The firm has a 50 day moving average price of $70.16 and a 200-day moving average price of $63.12. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. Northrim BanCorp, Inc. has a twelve month low of $43.92 and a twelve month high of $85.06. The company has a market capitalization of $455.68 million, a P/E ratio of 14.14 and a beta of 0.73.

Northrim BanCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.99%. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Thursday, September 5th. Northrim BanCorp’s dividend payout ratio is 42.32%.

Insiders Place Their Bets

In other Northrim BanCorp news, Director Linda C. Thomas sold 2,550 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $79.00, for a total transaction of $201,450.00. Following the completion of the transaction, the director now owns 1,172 shares in the company, valued at $92,588. This trade represents a 68.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.10% 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.