Walthausen & Co. LLC lifted its holdings in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,381 shares of the financial services provider’s stock after purchasing an additional 2,990 shares during the period. Walthausen & Co. LLC owned 0.66% of Northrim BanCorp worth $1,661,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Royce & Associates LP lifted its holdings in shares of Northrim BanCorp by 3.8% during the fourth quarter. Royce & Associates LP now owns 410,797 shares of the financial services provider’s stock worth $15,734,000 after purchasing an additional 14,992 shares during the period. Renaissance Technologies LLC boosted its stake in Northrim BanCorp by 2.4% in the fourth quarter. Renaissance Technologies LLC now owns 186,400 shares of the financial services provider’s stock valued at $7,139,000 after acquiring an additional 4,400 shares during the last quarter. State Street Corp boosted its stake in Northrim BanCorp by 0.4% in the fourth quarter. State Street Corp now owns 143,942 shares of the financial services provider’s stock valued at $5,513,000 after acquiring an additional 577 shares during the last quarter. Dalton Greiner Hartman Maher & Co. boosted its stake in Northrim BanCorp by 4.5% in the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 99,166 shares of the financial services provider’s stock valued at $3,798,000 after acquiring an additional 4,271 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Northrim BanCorp by 14.8% in the fourth quarter. Acadian Asset Management LLC now owns 82,702 shares of the financial services provider’s stock valued at $3,166,000 after acquiring an additional 10,668 shares during the last quarter. Institutional investors own 72.53% of the company’s stock.
NRIM stock traded up $3.37 during trading on Thursday, hitting $27.89. 22,700 shares of the company’s stock were exchanged, compared to its average volume of 22,924. The business has a 50-day moving average price of $33.47 and a two-hundred day moving average price of $37.20. The stock has a market capitalization of $161.38 million, a price-to-earnings ratio of 9.17 and a beta of 0.64. Northrim BanCorp, Inc. has a 52-week low of $17.32 and a 52-week high of $42.28. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.16.
Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.11. Northrim BanCorp had a return on equity of 10.02% and a net margin of 19.26%. The firm had revenue of $26.15 million for the quarter, compared to analyst estimates of $24.50 million. On average, equities research analysts anticipate that Northrim BanCorp, Inc. will post 2.67 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Thursday, March 12th were paid a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.88%. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.33. Northrim BanCorp’s dividend payout ratio (DPR) is 44.74%.
A number of brokerages recently commented on NRIM. BidaskClub upgraded shares of Northrim BanCorp from a “sell” rating to a “hold” rating in a research note on Tuesday, February 18th. ValuEngine upgraded shares of Northrim BanCorp from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Zacks Investment Research raised shares of Northrim BanCorp from a “hold” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a report on Saturday, February 8th.
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 in Alaska. It operates in two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, money market deposit accounts, certificates of deposit, and courier noncash deposits.
Further Reading: 52 Week Highs
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