First Trust Advisors LP Acquires 2,735 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

First Trust Advisors LP lifted its holdings in Northrim BanCorp, Inc. (NASDAQ:NRIM) by 22.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,138 shares of the financial services provider’s stock after buying an additional 2,735 shares during the quarter. First Trust Advisors LP’s holdings in Northrim BanCorp were worth $601,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of NRIM. Acadian Asset Management LLC lifted its stake in shares of Northrim BanCorp by 8.6% during the 2nd quarter. Acadian Asset Management LLC now owns 73,597 shares of the financial services provider’s stock worth $2,625,000 after acquiring an additional 5,822 shares during the last quarter. AdvisorNet Financial Inc purchased a new position in Northrim BanCorp during the 3rd quarter valued at $81,000. Commonwealth Equity Services LLC grew its position in Northrim BanCorp by 17.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 7,391 shares of the financial services provider’s stock valued at $293,000 after acquiring an additional 1,078 shares during the last quarter. Rhumbline Advisers grew its position in Northrim BanCorp by 8.5% in the 3rd quarter. Rhumbline Advisers now owns 10,290 shares of the financial services provider’s stock valued at $408,000 after acquiring an additional 806 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. increased its stake in Northrim BanCorp by 9.2% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 94,895 shares of the financial services provider’s stock worth $3,764,000 after purchasing an additional 7,975 shares during the period. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Shares of NRIM stock opened at $36.62 on Wednesday. The company has a market capitalization of $245.05 million, a P/E ratio of 12.80 and a beta of 0.79. The company’s 50-day simple moving average is $38.28 and its two-hundred day simple moving average is $36.87. Northrim BanCorp, Inc. has a one year low of $29.66 and a one year high of $42.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.90 and a quick ratio of 0.84.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results on Monday, October 28th. The financial services provider reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.35. The firm had revenue of $26.82 million during the quarter, compared to the consensus estimate of $26.10 million. Northrim BanCorp had a net margin of 20.05% and a return on equity of 10.16%. On average, research analysts expect that Northrim BanCorp, Inc. will post 2.93 EPS for the current fiscal year.

In other news, Director David G. Wight acquired 650 shares of Northrim BanCorp stock in a transaction on Thursday, October 31st. The shares were bought at an average cost of $39.17 per share, for a total transaction of $25,460.50. Following the acquisition, the director now directly owns 12,650 shares of the company’s stock, valued at approximately $495,500.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders purchased 706 shares of company stock worth $27,837. 2.20% of the stock is owned by insiders.

Several analysts have recently weighed in on NRIM shares. ValuEngine downgraded Northrim BanCorp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub cut shares of Northrim BanCorp from a “hold” rating to a “sell” rating in a report on Friday, November 15th. Finally, Zacks Investment Research raised shares of Northrim BanCorp from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th.

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 in Alaska. It operates in two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, money market deposit accounts, certificates of deposit, and courier noncash deposits.

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Institutional Ownership by Quarter for Northrim BanCorp (NASDAQ:NRIM)

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