Y Intercept Hong Kong Ltd Has $1.43 Million Position in Northrim BanCorp Inc $NRIM

Y Intercept Hong Kong Ltd increased its position in shares of Northrim BanCorp Inc (NASDAQ:NRIM) by 1,280.1% in the third quarter, Holdings Channel reports. The institutional investor owned 65,858 shares of the financial services provider’s stock after buying an additional 61,086 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Northrim BanCorp were worth $1,426,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NRIM. Ritholtz Wealth Management boosted its position in Northrim BanCorp by 272.1% during the 3rd quarter. Ritholtz Wealth Management now owns 15,795 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 11,550 shares during the last quarter. Rosenthal Henry Capital Advisors Inc. boosted its holdings in Northrim BanCorp by 300.0% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 120,000 shares of the financial services provider’s stock worth $2,599,000 after purchasing an additional 90,000 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in Northrim BanCorp by 300.0% during the third quarter. Concurrent Investment Advisors LLC now owns 10,000 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 7,500 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Northrim BanCorp by 299.3% in the third quarter. Nisa Investment Advisors LLC now owns 4,404 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 3,301 shares in the last quarter. Finally, Noesis Capital Mangement Corp increased its stake in Northrim BanCorp by 300.0% in the 3rd quarter. Noesis Capital Mangement Corp now owns 10,364 shares of the financial services provider’s stock valued at $224,000 after buying an additional 7,773 shares during the last quarter. Institutional investors own 65.99% of the company’s stock.

Analyst Ratings Changes

NRIM has been the subject of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Northrim BanCorp in a report on Wednesday, December 24th. Zacks Research cut Northrim BanCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Wall Street Zen lowered Northrim BanCorp from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Hovde Group increased their price objective on Northrim BanCorp from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Transactions at Northrim BanCorp

In related news, Director Shauna Hegna purchased 1,186 shares of the stock in a transaction on Tuesday, December 9th. The shares were purchased at an average cost of $25.25 per share, with a total value of $29,946.50. Following the acquisition, the director directly owned 1,638 shares in the company, valued at $41,359.50. The trade was a 262.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David J. Mccambridge acquired 1,150 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were bought at an average price of $24.87 per share, with a total value of $28,600.50. Following the completion of the transaction, the director directly owned 41,598 shares of the company’s stock, valued at approximately $1,034,542.26. The trade was a 2.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 5,126 shares of company stock worth $122,726. 3.90% of the stock is owned by insiders.

Northrim BanCorp Price Performance

NASDAQ:NRIM opened at $23.56 on Friday. Northrim BanCorp Inc has a 12-month low of $16.17 and a 12-month high of $30.82. The firm has a market capitalization of $520.44 million, a price-to-earnings ratio of 8.22 and a beta of 0.97. The stock’s 50 day moving average price is $26.49 and its two-hundred day moving average price is $23.73. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 0.07.

Northrim BanCorp (NASDAQ:NRIM) last posted its earnings results on Friday, January 23rd. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.10). Northrim BanCorp had a return on equity of 18.13% and a net margin of 25.17%.The business had revenue of $51.66 million for the quarter, compared to analyst estimates of $52.70 million. On average, analysts anticipate that Northrim BanCorp Inc will post 8.05 earnings per share for the current year.

Northrim BanCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Thursday, March 5th will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $0.64 annualized dividend and a dividend yield of 2.7%. Northrim BanCorp’s dividend payout ratio is presently 22.30%.

Northrim BanCorp Company Profile

Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.

With branches located across Alaska’s major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.