Northrim BanCorp (NASDAQ:NRIM) Rating Lowered to Buy at StockNews.com

StockNews.com lowered shares of Northrim BanCorp (NASDAQ:NRIMGet Rating) from a strong-buy rating to a buy rating in a research report sent to investors on Monday.

Northrim BanCorp Trading Up 0.6 %

Shares of NASDAQ:NRIM opened at $55.71 on Monday. The stock has a market capitalization of $316.43 million, a price-to-earnings ratio of 10.92 and a beta of 0.66. Northrim BanCorp has a 1-year low of $38.42 and a 1-year high of $56.10. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.75 and a current ratio of 0.77. The company has a 50 day moving average price of $46.55 and a 200 day moving average price of $42.73.

Insider Buying and Selling

In other Northrim BanCorp news, Director David W. Karp bought 500 shares of Northrim BanCorp stock in a transaction that occurred on Wednesday, November 16th. The stock was purchased at an average cost of $53.57 per share, for a total transaction of $26,785.00. Following the completion of the acquisition, the director now owns 10,186 shares of the company’s stock, valued at approximately $545,664.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.50% of the stock is currently owned by insiders.

Institutional Trading of Northrim BanCorp

Large investors have recently added to or reduced their stakes in the business. Amalgamated Bank purchased a new stake in shares of Northrim BanCorp in the 1st quarter valued at approximately $32,000. Gladius Capital Management LP acquired a new position in Northrim BanCorp in the 2nd quarter worth approximately $49,000. Lazard Asset Management LLC boosted its stake in Northrim BanCorp by 3,765.1% in the 2nd quarter. Lazard Asset Management LLC now owns 2,435 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 2,372 shares during the period. UBS Group AG boosted its stake in Northrim BanCorp by 40.5% in the 1st quarter. UBS Group AG now owns 3,162 shares of the financial services provider’s stock worth $138,000 after purchasing an additional 912 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in Northrim BanCorp by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 3,484 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 1,265 shares during the period. 64.38% of the stock is currently owned by institutional investors.

About Northrim BanCorp

(Get Rating)

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 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, individual retirement and money market deposit accounts, certificates of deposit, and business sweep accounts.

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