Northrim BanCorp, Inc. (NASDAQ:NRIM) Director Marilyn Romano Purchases 200 Shares of Stock

Northrim BanCorp, Inc. (NASDAQ:NRIM) Director Marilyn Romano bought 200 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $75.63 per share, with a total value of $15,126.00. Following the purchase, the director now directly owns 1,207 shares of the company’s stock, valued at $91,285.41. The trade was a 19.86 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Northrim BanCorp Price Performance

Northrim BanCorp stock opened at $74.64 on Wednesday. The stock has a market capitalization of $412.09 million, a price-to-earnings ratio of 11.27 and a beta of 0.82. Northrim BanCorp, Inc. has a 52-week low of $43.92 and a 52-week high of $91.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.85. The stock’s 50 day moving average price is $80.41 and its two-hundred day moving average price is $77.06.

Northrim BanCorp (NASDAQ:NRIM) last issued its earnings results on Friday, January 24th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping 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, equities analysts predict that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current year.

Northrim BanCorp Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NRIM. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Northrim BanCorp during the third quarter valued at approximately $824,000. Charles Schwab Investment Management Inc. raised its holdings in Northrim BanCorp by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 15,677 shares of the financial services provider’s stock worth $1,117,000 after buying an additional 457 shares during the last quarter. FMR LLC lifted its position in Northrim BanCorp by 13.1% in the 3rd quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 201 shares in the last quarter. De Lisle Partners LLP lifted its holdings in shares of Northrim BanCorp by 11.6% in the third quarter. De Lisle Partners LLP now owns 77,095 shares of the financial services provider’s stock valued at $5,476,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Martingale Asset Management L P lifted its stake in Northrim BanCorp by 13.8% during the 3rd quarter. Martingale Asset Management L P now owns 6,967 shares of the financial services provider’s stock valued at $496,000 after acquiring an additional 846 shares in the last quarter. 65.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.