2,835 Shares in Northrim BanCorp, Inc. (NASDAQ:NRIM) Purchased by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP acquired a new position in Northrim BanCorp, Inc. (NASDAQ:NRIM) in the fourth quarter, HoldingsChannel reports. The fund acquired 2,835 shares of the financial services provider’s stock, valued at approximately $221,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in shares of Northrim BanCorp by 150.4% during the third quarter. JPMorgan Chase & Co. now owns 5,679 shares of the financial services provider’s stock valued at $404,000 after buying an additional 3,411 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of Northrim BanCorp by 94.0% during the fourth quarter. Ritholtz Wealth Management now owns 6,151 shares of the financial services provider’s stock valued at $479,000 after buying an additional 2,980 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Northrim BanCorp by 25.8% during the fourth quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider’s stock valued at $195,000 after buying an additional 513 shares during the last quarter. DecisionPoint Financial LLC purchased a new stake in shares of Northrim BanCorp during the fourth quarter valued at about $39,000. Finally, Sunpointe LLC purchased a new stake in shares of Northrim BanCorp during the fourth quarter valued at about $339,000. 65.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Hovde Group increased their price target on shares of Northrim BanCorp from $99.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, April 28th.

Northrim BanCorp Stock Performance

NRIM stock opened at $89.24 on Friday. The firm has a market cap of $492.69 million, a price-to-earnings ratio of 13.48 and a beta of 0.93. The firm has a 50-day simple moving average of $76.00 and a two-hundred day simple moving average of $79.10. Northrim BanCorp, Inc. has a one year low of $51.50 and a one year high of $91.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.85.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.38 EPS for the quarter, beating the consensus estimate of $1.56 by $0.82. The business had revenue of $45.50 million during the quarter, compared to analyst estimates of $44.10 million. Northrim BanCorp had a net margin of 18.87% and a return on equity of 14.86%. On average, equities analysts forecast that Northrim BanCorp, Inc. will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Profile

Northrim BanCorp, Inc operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals. It operates through two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, individual retirement and money market deposit accounts, certificates of deposit, and business sweep accounts.