Hovde Group assumed coverage on shares of Northrim BanCorp (NASDAQ:NRIM – Free Report) in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage issued an outperform rating and a $96.50 price objective on the financial services provider’s stock.
Northrim BanCorp Stock Down 0.8 %
NRIM stock opened at $76.48 on Friday. The company has a market cap of $420.79 million, a price-to-earnings ratio of 13.05 and a beta of 0.80. Northrim BanCorp has a twelve month low of $43.92 and a twelve month high of $91.72. The business has a 50 day moving average price of $78.02 and a two-hundred day moving average price of $68.75. 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 Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 19th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Thursday, December 19th. Northrim BanCorp’s dividend payout ratio is 42.32%.
Insiders Place Their Bets
Institutional Investors Weigh In On Northrim BanCorp
A number of large investors have recently modified their holdings of the business. FMR LLC increased its position in Northrim BanCorp by 13.1% during the 3rd quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 201 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Northrim BanCorp during the third quarter worth $142,000. Fulton Bank N.A. acquired a new position in shares of Northrim BanCorp during the third quarter worth $214,000. Ritholtz Wealth Management bought a new position in shares of Northrim BanCorp in the 3rd quarter valued at $226,000. Finally, Sei Investments Co. boosted its holdings in shares of Northrim BanCorp by 15.0% during the 2nd 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. Institutional investors and hedge funds own 65.99% of the company’s stock.
Northrim BanCorp Company 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.
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