198,965 Shares in Northrim BanCorp Inc $NRIM Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Northrim BanCorp Inc (NASDAQ:NRIM) during the 2nd quarter, Holdings Channel.com reports. The firm bought 198,965 shares of the financial services provider’s stock, valued at approximately $5,519,000.

Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Northrim BanCorp by 21.5% in the first quarter. Royal Bank of Canada now owns 39,505 shares of the financial services provider’s stock worth $2,892,000 after buying an additional 6,990 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Northrim BanCorp during the 1st quarter valued at about $210,000. AQR Capital Management LLC increased its holdings in shares of Northrim BanCorp by 171.3% during the 1st quarter. AQR Capital Management LLC now owns 13,352 shares of the financial services provider’s stock valued at $978,000 after acquiring an additional 8,431 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Northrim BanCorp by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,182 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 156 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Northrim BanCorp by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 28,470 shares of the financial services provider’s stock valued at $2,085,000 after acquiring an additional 6,599 shares in the last quarter. 65.99% of the stock is currently owned by institutional investors.

Northrim BanCorp Trading Up 0.7%

Shares of NASDAQ:NRIM opened at $25.80 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.94. The stock’s 50-day moving average is $26.86 and its 200-day moving average is $25.15. The company has a market cap of $573.92 million, a P/E ratio of 8.49 and a beta of 0.88. Northrim BanCorp Inc has a 52-week low of $19.60 and a 52-week high of $30.82.

Northrim BanCorp (NASDAQ:NRIM) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. The firm had revenue of $53.79 million during the quarter, compared to the consensus estimate of $51.80 million. Northrim BanCorp had a return on equity of 17.33% and a net margin of 26.03%. Equities research analysts predict that Northrim BanCorp Inc will post 2.57 earnings per share for the current year.

Insider Buying and Selling at Northrim BanCorp

In other news, EVP Jason Alexander Criqui sold 13,488 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $26.44, for a total value of $356,622.72. Following the completion of the sale, the executive vice president directly owned 12,653 shares of the company’s stock, valued at approximately $334,545.32. This represents a 51.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NRIM shares. Keefe, Bruyette & Woods began coverage on Northrim BanCorp in a research report on Wednesday, July 1st. They set a “market perform” rating and a $30.00 target price for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Northrim BanCorp in a research report on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Northrim BanCorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Northrim BanCorp 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.