Price T Rowe Associates Inc. MD increased its position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 15.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,274 shares of the financial services provider’s stock after purchasing an additional 1,400 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.16% of Northrim BanCorp worth $349,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Citigroup Inc. boosted its holdings in shares of Northrim BanCorp by 104.7% in the 4th quarter. Citigroup Inc. now owns 1,736 shares of the financial services provider’s stock valued at $59,000 after buying an additional 888 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Northrim BanCorp by 25.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 400 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Northrim BanCorp by 46.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,125 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 1,300 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Northrim BanCorp during the 4th quarter valued at approximately $231,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Northrim BanCorp in the fourth quarter worth $270,000. 68.34% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research upgraded shares of Northrim BanCorp from a “hold” rating to a “strong-buy” rating and set a $41.00 price target for the company in a research report on Wednesday, February 24th.
Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings data on Sunday, January 31st. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.14. The company had revenue of $36.96 million for the quarter, compared to analysts’ expectations of $35.71 million. Northrim BanCorp had a net margin of 21.13% and a return on equity of 13.25%. As a group, analysts forecast that Northrim BanCorp, Inc. will post 4.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 19th. Investors of record on Thursday, March 11th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, March 10th. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 3.55%. Northrim BanCorp’s payout ratio is presently 48.68%.
Northrim BanCorp Profile
Northrim Bancorp, Inc operates as a bank holding company. The firm provides personal, business and commercial banking products and services. It operates through the following segments: Community Banking and Home Mortgage Lending. The Community Banking segment offers loan and deposit products to business and consumer customers in the company’s market areas.
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