Northrim BanCorp, Inc. (NASDAQ:NRIM) CEO Sells $40,398.54 in Stock

Northrim BanCorp, Inc. (NASDAQ:NRIM) CEO Michael G. Huston sold 453 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $89.18, for a total value of $40,398.54. Following the transaction, the chief executive officer now directly owns 23,759 shares of the company’s stock, valued at $2,118,827.62. This trade represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Northrim BanCorp Stock Down 1.3 %

Northrim BanCorp stock opened at $88.36 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.81. The company’s 50-day moving average is $81.09 and its 200-day moving average is $74.14. The firm has a market capitalization of $485.98 million, a PE ratio of 13.35 and a beta of 0.83. Northrim BanCorp, Inc. has a fifty-two week low of $43.92 and a fifty-two week high of $91.72.

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

Northrim BanCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.62. Northrim BanCorp’s payout ratio is currently 37.46%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Northrim BanCorp

A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Northrim BanCorp by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 126,898 shares of the financial services provider’s stock valued at $9,040,000 after purchasing an additional 2,133 shares during the period. State Street Corp boosted its position in shares of Northrim BanCorp by 8.0% in 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 period. De Lisle Partners LLP grew its stake in shares of Northrim BanCorp by 11.6% in the third quarter. De Lisle Partners LLP now owns 77,095 shares of the financial services provider’s stock valued at $5,476,000 after acquiring an additional 8,000 shares in the last quarter. Bank of New York Mellon Corp increased its position in Northrim BanCorp by 16.6% during the fourth quarter. Bank of New York Mellon Corp now owns 49,272 shares of the financial services provider’s stock worth $3,840,000 after acquiring an additional 7,009 shares during the period. Finally, Zacks Investment Management raised its stake in Northrim BanCorp by 8.7% in the 3rd 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 in the last quarter. Institutional investors own 65.99% of the company’s 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.