Northrim BanCorp Inc $NRIM Shares Purchased by Punch & Associates Investment Management Inc.

Punch & Associates Investment Management Inc. lifted its holdings in Northrim BanCorp Inc (NASDAQ:NRIM) by 22.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,900 shares of the financial services provider’s stock after purchasing an additional 55,404 shares during the quarter. Punch & Associates Investment Management Inc. owned about 1.37% of Northrim BanCorp worth $8,060,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Northrim BanCorp by 314.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 191,908 shares of the financial services provider’s stock worth $4,157,000 after acquiring an additional 145,578 shares during the last quarter. Huber Capital Management LLC raised its stake in Northrim BanCorp by 300.0% in the 3rd quarter. Huber Capital Management LLC now owns 183,656 shares of the financial services provider’s stock worth $3,978,000 after acquiring an additional 137,742 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. raised its stake in Northrim BanCorp by 300.0% in the 3rd quarter. Elizabeth Park Capital Advisors Ltd. now owns 102,268 shares of the financial services provider’s stock worth $2,215,000 after acquiring an additional 76,701 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in Northrim BanCorp in the 3rd quarter worth $457,000. Finally, American Century Companies Inc. raised its stake in Northrim BanCorp by 344.3% in the 3rd quarter. American Century Companies Inc. now owns 665,888 shares of the financial services provider’s stock worth $14,423,000 after acquiring an additional 516,030 shares during the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.

Northrim BanCorp Stock Performance

Shares of NRIM stock opened at $25.27 on Wednesday. The firm has a market capitalization of $562.26 million, a price-to-earnings ratio of 8.77 and a beta of 0.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.91. The business has a fifty day moving average of $24.55 and a 200 day moving average of $25.03. Northrim BanCorp Inc has a 1 year low of $19.60 and a 1 year high of $30.82.

Northrim BanCorp (NASDAQ:NRIM) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. The company had revenue of $49.46 million during the quarter, compared to analyst estimates of $50.60 million. Northrim BanCorp had a return on equity of 16.99% and a net margin of 24.91%. As a group, research analysts expect that Northrim BanCorp Inc will post 2.6 earnings per share for the current year.

Northrim BanCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 11th will be paid a $0.16 dividend. The ex-dividend date is Thursday, June 11th. This represents a $0.64 dividend on an annualized basis and a yield of 2.5%. Northrim BanCorp’s dividend payout ratio (DPR) is 22.22%.

Northrim BanCorp Profile

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.