BidaskClub upgraded shares of Northrim BanCorp (NASDAQ:NRIM) from a hold rating to a buy rating in a research note issued to investors on Friday morning.
Separately, Zacks Investment Research lowered shares of Northrim BanCorp from a strong-buy rating to a hold rating in a research note on Thursday, October 4th.
NASDAQ NRIM traded down $1.74 on Friday, reaching $39.42. The company had a trading volume of 28,951 shares, compared to its average volume of 16,953. The firm has a market cap of $285.57 million, a PE ratio of 19.32 and a beta of 0.70. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09. Northrim BanCorp has a 1-year low of $31.85 and a 1-year high of $45.40.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Thursday, September 6th were paid a $0.27 dividend. The ex-dividend date was Wednesday, September 5th. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a yield of 2.74%. Northrim BanCorp’s dividend payout ratio is presently 52.94%.
In related news, Director David G. Wight sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $44.15, for a total value of $88,300.00. Following the completion of the transaction, the director now directly owns 11,500 shares of the company’s stock, valued at approximately $507,725. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David W. Karp bought 620 shares of Northrim BanCorp stock in a transaction that occurred on Wednesday, August 1st. The stock was bought at an average cost of $40.50 per share, with a total value of $25,110.00. Following the completion of the purchase, the director now owns 2,436 shares in the company, valued at approximately $98,658. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 1,705 shares of company stock valued at $71,190. Company insiders own 2.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its stake in shares of Northrim BanCorp by 267.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,174 shares of the financial services provider’s stock worth $126,000 after buying an additional 2,311 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Northrim BanCorp by 231.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 5,246 shares of the financial services provider’s stock worth $207,000 after buying an additional 3,663 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Northrim BanCorp by 21.2% during the 2nd quarter. First Trust Advisors LP now owns 9,714 shares of the financial services provider’s stock worth $384,000 after buying an additional 1,699 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Northrim BanCorp by 12.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 14,953 shares of the financial services provider’s stock worth $590,000 after buying an additional 1,599 shares during the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Northrim BanCorp during the 2nd quarter worth about $772,000. Institutional investors own 70.57% of the company’s stock.
Northrim BanCorp Company Profile
Northrim BanCorp, Inc operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professionals in Alaska. The company operates in two segments, Community Banking and Home Mortgage Lending. It offers various deposit products, including noninterest-bearing checking accounts and interest-bearing time deposits, checking accounts, and savings accounts, as well as money market deposit accounts, certificates of deposit, and courier noncash deposits.
Featured Article: Stock Symbol
Receive News & Ratings for Northrim BanCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrim BanCorp and related companies with MarketBeat.com's FREE daily email newsletter.