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

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 1.3 %

Shares of Northrim BanCorp stock opened at $88.36 on Tuesday. The company has a market capitalization of $485.98 million, a P/E ratio of 13.35 and a beta of 0.83. 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 business has a 50-day moving average of $81.09 and a two-hundred day moving average of $74.14. Northrim BanCorp, Inc. has a 1 year low of $43.92 and a 1 year high of $91.72.

Northrim BanCorp (NASDAQ:NRIM) last posted its earnings results on Friday, January 24th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts predict that Northrim BanCorp, Inc. will post 7.96 EPS for the current year.

Northrim BanCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, March 6th will be given a $0.64 dividend. 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 2.90%. The ex-dividend date is Thursday, March 6th. Northrim BanCorp’s payout ratio is currently 37.46%.

Hedge Funds Weigh In On Northrim BanCorp

Large investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Northrim BanCorp by 47.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,023 shares of the financial services provider’s stock worth $1,327,000 after buying an additional 5,455 shares during the period. Raymond James Financial Inc. bought a new stake in Northrim BanCorp in the 4th quarter valued at approximately $1,794,000. Bank of New York Mellon Corp boosted its position in Northrim BanCorp by 16.6% during the 4th quarter. Bank of New York Mellon Corp now owns 49,272 shares of the financial services provider’s stock worth $3,840,000 after acquiring an additional 7,009 shares during the last quarter. Sunpointe LLC acquired a new position in Northrim BanCorp during the 4th quarter worth approximately $339,000. Finally, DecisionPoint Financial LLC bought a new position in shares of Northrim BanCorp during the 4th quarter worth approximately $39,000. Institutional investors own 65.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group began 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 on the stock.

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.