Michael G. Huston Sells 453 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) Stock

Northrim BanCorp, Inc. (NASDAQ:NRIM) CEO Michael G. Huston sold 453 shares of Northrim BanCorp stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $89.18, for a total transaction of $40,398.54. Following the transaction, the chief executive officer now directly owns 23,759 shares in the company, valued at $2,118,827.62. The trade was a 1.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Northrim BanCorp Stock Down 0.2 %

Shares of NRIM traded down $0.18 during midday trading on Monday, hitting $89.35. The stock had a trading volume of 15,187 shares, compared to its average volume of 56,694. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.81. The firm has a market cap of $491.42 million, a price-to-earnings ratio of 13.45 and a beta of 0.83. The company has a 50 day simple moving average of $81.09 and a two-hundred day simple moving average of $74.02. Northrim BanCorp, Inc. has a twelve month low of $43.92 and a twelve month high of $91.72.

Northrim BanCorp (NASDAQ:NRIM) last released its earnings results on Friday, January 24th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.72. Northrim BanCorp had a net margin of 18.87% and a return on equity of 14.86%. On average, analysts anticipate that Northrim BanCorp, Inc. will post 7.96 EPS for the current year.

Northrim BanCorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, March 6th will be issued a dividend of $0.64 per share. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, March 6th. Northrim BanCorp’s dividend payout ratio (DPR) is presently 37.46%.

Wall Street Analyst Weigh In

Separately, Hovde Group began coverage on shares of Northrim BanCorp in a research note on Friday, December 20th. They issued an “outperform” rating and a $96.50 price target on the stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NRIM. SG Americas Securities LLC acquired a new position in shares of Northrim BanCorp in the 3rd quarter valued at approximately $142,000. Ritholtz Wealth Management bought a new position in Northrim BanCorp in the third quarter valued at about $226,000. Los Angeles Capital Management LLC raised its stake in Northrim BanCorp by 32.8% during the third quarter. Los Angeles Capital Management LLC now owns 12,936 shares of the financial services provider’s stock worth $921,000 after acquiring an additional 3,195 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Northrim BanCorp by 4.7% in the third quarter. Empowered Funds LLC now owns 20,697 shares of the financial services provider’s stock worth $1,474,000 after acquiring an additional 938 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Northrim BanCorp in the 3rd quarter valued at approximately $824,000. Institutional investors own 65.99% 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 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.