Insider Selling: Northrim BanCorp (NASDAQ:NRIM) EVP Sells $356,622.72 in Stock

by · The Markets Daily

Northrim BanCorp Inc (NASDAQ:NRIM – Get Free Report) EVP Jason Alexander Criqui sold 13,488 shares of Northrim BanCorp stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $26.44, for a total value of $356,622.72. Following the transaction, the executive vice president owned 12,653 shares of the company’s stock, valued at $334,545.32. This trade represents a 51.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Northrim BanCorp Stock Up 2.0%

Northrim BanCorp stock traded up $0.54 during trading on Monday, hitting $27.05. 37,700 shares of the company were exchanged, compared to its average volume of 164,839. The company has a market capitalization of $601.86 million, a P/E ratio of 8.90 and a beta of 0.88. The business’s 50 day moving average is $26.26 and its 200 day moving average is $25.12. Northrim BanCorp Inc has a 52 week low of $19.60 and a 52 week high of $30.82. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.24.

Northrim BanCorp (NASDAQ:NRIM – Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. Northrim BanCorp had a net margin of 26.03% and a return on equity of 17.62%. The firm had revenue of $53.79 million for the quarter, compared to the consensus estimate of $51.80 million. Analysts predict that Northrim BanCorp Inc will post 2.53 earnings per share for the current year.

Northrim BanCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 11th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, June 11th. Northrim BanCorp’s dividend payout ratio (DPR) is presently 21.05%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Western Wealth Management LLC purchased a new stake in shares of Northrim BanCorp during the first quarter worth $27,000. Bank of America Corp DE grew its holdings in Northrim BanCorp by 13.3% during the 1st quarter. Bank of America Corp DE now owns 52,264 shares of the financial services provider’s stock valued at $1,196,000 after buying an additional 6,131 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Northrim BanCorp during the first quarter valued at about $1,397,000. Quantinno Capital Management LP lifted its holdings in shares of Northrim BanCorp by 57.0% in the first quarter. Quantinno Capital Management LP now owns 36,228 shares of the financial services provider’s stock worth $829,000 after buying an additional 13,156 shares in the last quarter. Finally, Waverly Advisors LLC boosted its position in shares of Northrim BanCorp by 4.7% in the first quarter. Waverly Advisors LLC now owns 210,448 shares of the financial services provider’s stock valued at $4,815,000 after acquiring an additional 9,420 shares during the period. 65.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on NRIM. Keefe, Bruyette & Woods initiated coverage on Northrim BanCorp in a report on Wednesday, July 1st. They issued a “market perform” rating and a $30.00 target price for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Northrim BanCorp in a report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Northrim BanCorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

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Northrim BanCorp Company Profile

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Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.

With branches located across Alaska’s major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.

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