DecisionPoint Financial LLC Makes New $39,000 Investment in Northrim BanCorp, Inc. (NASDAQ:NRIM)

DecisionPoint Financial LLC bought a new position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) in the fourth quarter, Holdings Channel.com reports. The fund bought 500 shares of the financial services provider’s stock, valued at approximately $39,000.

Several other hedge funds and other institutional investors have also bought and sold shares of NRIM. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Northrim BanCorp during the 3rd quarter valued at $824,000. State Street Corp lifted its position in Northrim BanCorp by 8.0% in the 3rd 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 in the last quarter. De Lisle Partners LLP boosted its stake in Northrim BanCorp by 11.6% during the 3rd quarter. De Lisle Partners LLP now owns 77,095 shares of the financial services provider’s stock valued at $5,476,000 after purchasing an additional 8,000 shares during the last quarter. Barclays PLC raised its stake in shares of Northrim BanCorp by 32.5% in the third quarter. Barclays PLC now owns 20,689 shares of the financial services provider’s stock worth $1,474,000 after purchasing an additional 5,079 shares during the last quarter. Finally, Zacks Investment Management raised its stake in shares of Northrim BanCorp by 8.7% in the third quarter. Zacks Investment Management now owns 44,208 shares of the financial services provider’s stock worth $3,148,000 after purchasing an additional 3,550 shares during the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Linda C. Thomas sold 2,550 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $79.00, for a total value of $201,450.00. Following the completion of the transaction, the director now owns 1,172 shares in the company, valued at $92,588. This trade represents a 68.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.10% of the company’s stock.

Northrim BanCorp Trading Down 1.1 %

Northrim BanCorp stock opened at $89.53 on Monday. 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, Inc. has a fifty-two week low of $43.92 and a fifty-two week high of $91.72. The stock has a market cap of $492.59 million, a P/E ratio of 13.52 and a beta of 0.83. The firm’s fifty day moving average price is $81.09 and its 200-day moving average price is $74.02.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings results on Friday, January 24th. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.72. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. Equities research analysts forecast that Northrim BanCorp, Inc. will post 7.96 earnings per share for the current fiscal year.

Northrim BanCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, March 6th will be issued a $0.64 dividend. The ex-dividend date is Thursday, March 6th. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a yield of 2.86%. Northrim BanCorp’s dividend payout ratio is 38.67%.

Northrim BanCorp Profile

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.