Northrim BanCorp Inc $NRIM Stake Increased by Villanova Investment Management Co LLC

Villanova Investment Management Co LLC raised its stake in shares of Northrim BanCorp Inc (NASDAQ:NRIM) by 339.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,040 shares of the financial services provider’s stock after acquiring an additional 36,336 shares during the quarter. Villanova Investment Management Co LLC’s holdings in Northrim BanCorp were worth $1,019,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NRIM. Vanguard Group Inc. increased its position in shares of Northrim BanCorp by 326.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,639,351 shares of the financial services provider’s stock worth $35,508,000 after purchasing an additional 1,254,870 shares during the last quarter. LSV Asset Management grew its stake in Northrim BanCorp by 185.8% in the third quarter. LSV Asset Management now owns 255,360 shares of the financial services provider’s stock worth $5,531,000 after purchasing an additional 166,020 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Northrim BanCorp by 314.2% in the third quarter. JPMorgan Chase & Co. now owns 191,908 shares of the financial services provider’s stock valued at $4,157,000 after buying an additional 145,578 shares during the last quarter. Rosenthal Henry Capital Advisors Inc. raised its stake 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 valued at $2,599,000 after buying an additional 90,000 shares in the last quarter. Finally, Alaska Wealth Advisors lifted its holdings in Northrim BanCorp by 300.0% during the 3rd quarter. Alaska Wealth Advisors now owns 97,791 shares of the financial services provider’s stock worth $2,118,000 after buying an additional 73,343 shares during the last quarter. 65.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NRIM. Zacks Research downgraded Northrim BanCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Northrim BanCorp in a research note on Wednesday, December 24th. Finally, Wall Street Zen cut shares of Northrim BanCorp from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.00.

Northrim BanCorp Stock Performance

Shares of NRIM opened at $25.48 on Monday. Northrim BanCorp Inc has a 1 year low of $16.17 and a 1 year high of $30.82. The company has a market cap of $562.85 million, a price-to-earnings ratio of 8.89 and a beta of 0.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a fifty day moving average of $26.53 and a 200-day moving average of $24.09.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings data 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). The firm had revenue of $51.66 million during the quarter, compared to analyst estimates of $52.70 million. Northrim BanCorp had a return on equity of 18.13% and a net margin of 25.17%. As a group, equities analysts anticipate that Northrim BanCorp Inc will post 8.05 earnings per share for the current year.

Northrim BanCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Thursday, March 5th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Thursday, March 5th. Northrim BanCorp’s payout ratio is 22.30%.

Insider Activity

In other Northrim BanCorp news, Director David J. Mccambridge acquired 1,150 shares of Northrim BanCorp stock in a transaction dated Tuesday, December 9th. The stock was acquired at an average cost of $24.87 per share, for a total transaction of $28,600.50. Following the completion of the transaction, the director owned 41,598 shares in the company, valued at approximately $1,034,542.26. This represents a 2.84% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Shauna Hegna acquired 1,186 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was acquired at an average cost of $25.25 per share, with a total value of $29,946.50. Following the completion of the acquisition, the director directly owned 1,638 shares in the company, valued at approximately $41,359.50. This represents a 262.39% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 5,126 shares of company stock valued at $122,726. Insiders own 3.90% of the company’s stock.

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.