Michael G. Huston Sells 453 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) Stock

Northrim BanCorp, Inc. (NASDAQ:NRIM) CEO Michael G. Huston sold 453 shares of Northrim BanCorp stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $89.18, for a total transaction of $40,398.54. Following the sale, the chief executive officer now owns 23,759 shares in the company, valued at approximately $2,118,827.62. The trade was a 1.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Northrim BanCorp Trading Up 1.6 %

Shares of NRIM opened at $89.73 on Wednesday. The company’s fifty day moving average is $81.18 and its 200 day moving average is $74.27. Northrim BanCorp, Inc. has a fifty-two week low of $43.92 and a fifty-two week high of $91.72. The stock has a market capitalization of $493.52 million, a PE ratio of 13.55 and a beta of 0.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.85.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings results on Friday, January 24th. The financial services provider reported $1.95 earnings per share 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%. Sell-side analysts expect that Northrim BanCorp, Inc. will post 7.96 earnings per share for the current fiscal year.

Northrim BanCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.64 per share. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, March 6th. This represents a $2.56 dividend on an annualized basis and a yield of 2.85%. Northrim BanCorp’s payout ratio is 37.46%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NRIM. Segall Bryant & Hamill LLC bought a new position in Northrim BanCorp during the fourth quarter valued at $2,111,000. Raymond James Financial Inc. bought a new position in Northrim BanCorp during the fourth quarter valued at $1,794,000. American Century Companies Inc. increased its position in Northrim BanCorp by 16.4% during the fourth quarter. American Century Companies Inc. now owns 122,173 shares of the financial services provider’s stock valued at $9,522,000 after acquiring an additional 17,240 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Northrim BanCorp during the third quarter valued at $824,000. Finally, State Street Corp increased its position in Northrim BanCorp by 8.0% during the third quarter. State Street Corp now owns 107,568 shares of the financial services provider’s stock valued at $7,661,000 after acquiring an additional 8,012 shares during the last quarter. Institutional investors own 65.99% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Hovde Group started coverage on shares of Northrim BanCorp in a research report on Friday, December 20th. They issued an “outperform” rating and a $96.50 price target on the stock.

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. 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.