Northrim BanCorp, Inc. (NASDAQ:NRIM) Director Marilyn Romano Buys 200 Shares

Northrim BanCorp, Inc. (NASDAQ:NRIM) Director Marilyn Romano acquired 200 shares of Northrim BanCorp stock in a transaction on Monday, March 24th. The stock was acquired at an average price of $75.63 per share, with a total value of $15,126.00. Following the purchase, the director now directly owns 1,207 shares in the company, valued at approximately $91,285.41. This trade represents a 19.86 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Northrim BanCorp Trading Down 1.2 %

NASDAQ:NRIM opened at $74.64 on Wednesday. Northrim BanCorp, Inc. has a 12 month low of $43.92 and a 12 month high of $91.72. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average is $80.41 and its 200 day moving average is $77.06. The stock has a market capitalization of $412.09 million, a PE ratio of 11.27 and a beta of 0.82.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings results on Friday, January 24th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.72. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. Sell-side analysts expect that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current year.

Northrim BanCorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were paid a $0.64 dividend. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, March 6th. This represents a $2.56 annualized dividend and a dividend yield of 3.43%. Northrim BanCorp’s dividend payout ratio (DPR) is presently 38.67%.

Institutional Trading of Northrim BanCorp

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Northrim BanCorp by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 301,117 shares of the financial services provider’s stock valued at $23,469,000 after buying an additional 2,802 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Northrim BanCorp by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 126,898 shares of the financial services provider’s stock valued at $9,040,000 after purchasing an additional 2,133 shares during the period. American Century Companies Inc. lifted its holdings in Northrim BanCorp by 16.4% during the 4th quarter. American Century Companies Inc. now owns 122,173 shares of the financial services provider’s stock worth $9,522,000 after purchasing an additional 17,240 shares in the last quarter. State Street Corp boosted its stake in Northrim BanCorp by 8.0% in the 3rd quarter. State Street Corp now owns 107,568 shares of the financial services provider’s stock worth $7,661,000 after purchasing an additional 8,012 shares during the period. Finally, De Lisle Partners LLP grew its holdings in Northrim BanCorp by 11.6% during the 3rd quarter. De Lisle Partners LLP now owns 77,095 shares of the financial services provider’s stock valued at $5,476,000 after buying an additional 8,000 shares in the last quarter. 65.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Hovde Group started coverage on shares of Northrim BanCorp in a research report on Friday, December 20th. They set an “outperform” rating and a $96.50 price target for the company.

About Northrim BanCorp

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.