Kennedy Capital Management LLC Sells 10,917 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

Kennedy Capital Management LLC lessened its stake in Northrim BanCorp, Inc. (NASDAQ:NRIM) by 16.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 54,008 shares of the financial services provider’s stock after selling 10,917 shares during the period. Kennedy Capital Management LLC’s holdings in Northrim BanCorp were worth $2,728,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Teton Advisors Inc. acquired a new stake in Northrim BanCorp during the 4th quarter valued at $240,000. BNP Paribas Financial Markets grew its holdings in Northrim BanCorp by 30.0% during the 4th quarter. BNP Paribas Financial Markets now owns 6,143 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 1,417 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Northrim BanCorp by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 468,780 shares of the financial services provider’s stock valued at $26,819,000 after acquiring an additional 3,053 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Northrim BanCorp by 17.2% in the fourth quarter. Russell Investments Group Ltd. now owns 38,568 shares of the financial services provider’s stock worth $2,206,000 after acquiring an additional 5,650 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of Northrim BanCorp by 34.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 8,300 shares of the financial services provider’s stock worth $475,000 after acquiring an additional 2,140 shares during the last quarter. 65.99% of the stock is currently owned by institutional investors and hedge funds.

Northrim BanCorp Trading Down 0.8 %

Shares of NRIM stock traded down $0.52 during trading hours on Wednesday, reaching $68.58. The company had a trading volume of 1,871 shares, compared to its average volume of 15,799. The company has a 50 day moving average of $58.50 and a 200 day moving average of $52.82. The firm has a market cap of $377.19 million, a price-to-earnings ratio of 13.47 and a beta of 0.73. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.79. Northrim BanCorp, Inc. has a 1-year low of $38.25 and a 1-year high of $74.34.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.31. The company had revenue of $46.49 million for the quarter, compared to analyst estimates of $35.00 million. Northrim BanCorp had a return on equity of 13.82% and a net margin of 18.41%. On average, equities research analysts anticipate that Northrim BanCorp, Inc. will post 5.57 EPS for the current year.

Northrim BanCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Thursday, June 6th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 3.56%. The ex-dividend date was Thursday, June 6th. Northrim BanCorp’s dividend payout ratio is currently 47.56%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Northrim BanCorp from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st.

Insider Activity

In other news, Director David J. Mccambridge purchased 550 shares of Northrim BanCorp stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average price of $53.93 per share, for a total transaction of $29,661.50. Following the transaction, the director now owns 10,112 shares of the company’s stock, valued at approximately $545,340.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.10% 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.