Northrim BanCorp Inc. (NASDAQ:NRIM) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Northrim BanCorp, Inc. is a full-service commercial bank that provides a full range of personal and business banking services. “
Northrim BanCorp (NASDAQ:NRIM) opened at 25.30 on Tuesday. Northrim BanCorp has a 1-year low of $21.60 and a 1-year high of $29.75. The stock has a market cap of $174.11 million, a P/E ratio of 10.24 and a beta of 0.43. The stock has a 50 day moving average of $25.62 and a 200 day moving average of $26.03.
Northrim BanCorp (NASDAQ:NRIM) last posted its earnings results on Monday, August 1st. The financial services provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by $0.01. Northrim BanCorp had a net margin of 16.59% and a return on equity of 9.58%. Equities analysts anticipate that Northrim BanCorp will post $2.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Thursday, September 15th were given a dividend of $0.20 per share. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Tuesday, September 13th. Northrim BanCorp’s dividend payout ratio is currently 32.39%.
A number of hedge funds have recently modified their holdings of the company. Acrospire Investment Management LLC increased its stake in shares of Northrim BanCorp by 112.7% in the second quarter. Acrospire Investment Management LLC now owns 6,280 shares of the financial services provider’s stock worth $165,000 after buying an additional 3,327 shares in the last quarter. Nationwide Fund Advisors increased its stake in shares of Northrim BanCorp by 930.0% in the second quarter. Nationwide Fund Advisors now owns 4,573 shares of the financial services provider’s stock worth $120,000 after buying an additional 4,129 shares in the last quarter. GSA Capital Partners LLP increased its stake in shares of Northrim BanCorp by 13.0% in the second quarter. GSA Capital Partners LLP now owns 13,954 shares of the financial services provider’s stock worth $367,000 after buying an additional 1,600 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Northrim BanCorp during the second quarter worth about $1,806,000. Finally, California State Teachers Retirement System bought a new stake in shares of Northrim BanCorp during the second quarter worth about $371,000. Institutional investors own 67.80% of the company’s stock.
Northrim BanCorp Company Profile
Northrim BanCorp, Inc is a bank holding company. The Company operates in two segments: Community Banking and Home Mortgage Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. The Community Banking segment operates approximately 10 branches throughout Alaska.
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