Y Intercept Hong Kong Ltd Buys Shares of 114,043 Northrim BanCorp Inc $NRIM

Y Intercept Hong Kong Ltd bought a new position in shares of Northrim BanCorp Inc (NASDAQ:NRIM) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 114,043 shares of the financial services provider’s stock, valued at approximately $2,609,000.

A number of other institutional investors have also made changes to their positions in the stock. Alaska Wealth Advisors LLC boosted its position in shares of Northrim BanCorp by 212.6% during the 1st quarter. Alaska Wealth Advisors LLC now owns 305,721 shares of the financial services provider’s stock worth $6,995,000 after purchasing an additional 207,930 shares during the period. Inspire Investing LLC raised its position in Northrim BanCorp by 59.3% in the first quarter. Inspire Investing LLC now owns 73,209 shares of the financial services provider’s stock valued at $1,675,000 after purchasing an additional 27,243 shares during the period. World Investment Advisors purchased a new stake in Northrim BanCorp in the fourth quarter valued at approximately $231,000. Tudor Investment Corp ET AL lifted its stake in Northrim BanCorp by 162.2% during the fourth quarter. Tudor Investment Corp ET AL now owns 55,286 shares of the financial services provider’s stock worth $1,471,000 after purchasing an additional 34,199 shares in the last quarter. Finally, Man Group plc purchased a new position in shares of Northrim BanCorp during the fourth quarter worth $526,000. 65.99% of the stock is currently owned by institutional investors and hedge funds.

Northrim BanCorp Stock Performance

NASDAQ NRIM opened at $27.11 on Wednesday. The firm has a market cap of $603.20 million, a P/E ratio of 9.41 and a beta of 0.86. Northrim BanCorp Inc has a 52-week low of $19.60 and a 52-week high of $30.82. The business’s 50-day moving average price is $25.20 and its 200 day moving average price is $25.13. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.24.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. Northrim BanCorp had a return on equity of 16.99% and a net margin of 24.91%.The company had revenue of $49.46 million during the quarter, compared to analysts’ expectations of $50.60 million. On average, equities research analysts expect that Northrim BanCorp Inc will post 2.6 earnings per share for the current year.

Northrim BanCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 11th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.64 annualized dividend and a dividend yield of 2.4%. Northrim BanCorp’s dividend payout ratio (DPR) is currently 22.22%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Northrim BanCorp in a report on Tuesday, June 16th. Keefe, Bruyette & Woods assumed coverage on Northrim BanCorp in a research report on Wednesday, July 1st. They set a “market perform” rating and a $30.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.50.

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.