Inspire Investing LLC Buys 27,243 Shares of Northrim BanCorp Inc $NRIM

Inspire Investing LLC grew its stake in Northrim BanCorp Inc (NASDAQ:NRIM) by 59.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,209 shares of the financial services provider’s stock after buying an additional 27,243 shares during the period. Inspire Investing LLC owned 0.33% of Northrim BanCorp worth $1,675,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its holdings in Northrim BanCorp by 34.5% in the second quarter. Tower Research Capital LLC TRC now owns 538 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 138 shares during the last quarter. Financial Management Professionals Inc. bought a new position in Northrim BanCorp during the 4th quarter worth approximately $27,000. Quarry LP raised its holdings in Northrim BanCorp by 47.7% during the 4th quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 412 shares during the last quarter. Clearstead Advisors LLC lifted its position in shares of Northrim BanCorp by 192.4% in the 4th quarter. Clearstead Advisors LLC now owns 1,509 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 993 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Northrim BanCorp by 298.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 1,568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,174 shares during the period. 65.99% of the stock is currently owned by institutional investors.

Northrim BanCorp Trading Down 0.5%

Shares of NRIM stock opened at $27.74 on Wednesday. The company has a market cap of $617.22 million, a P/E ratio of 9.62 and a beta of 0.88. The stock has a 50 day simple moving average of $24.93 and a two-hundred day simple moving average of $25.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.91 and a current ratio of 0.93. Northrim BanCorp Inc has a fifty-two week low of $19.60 and a fifty-two week high of $30.82.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.08. The firm had revenue of $49.46 million for the quarter, compared to analyst estimates of $50.60 million. Northrim BanCorp had a return on equity of 16.99% and a net margin of 24.91%. Research analysts forecast that Northrim BanCorp Inc will post 2.6 earnings per share for the current year.

Northrim BanCorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 11th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, June 11th. Northrim BanCorp’s payout ratio is presently 22.22%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Northrim BanCorp in a research report on Tuesday, June 16th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

About Northrim BanCorp

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.