California State Teachers Retirement System bought a new position in shares of Northrim BanCorp Inc. (NASDAQ:NRIM) during the second quarter, Holdings Channel reports. The firm bought 14,117 shares of the financial services provider’s stock, valued at approximately $371,000. California State Teachers Retirement System owned approximately 0.21% of Northrim BanCorp as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in NRIM. Springbok Capital Management LLC raised its stake in Northrim BanCorp by 54.4% in the first quarter. Springbok Capital Management LLC now owns 5,714 shares of the financial services provider’s stock valued at $137,000 after buying an additional 2,014 shares during the period. Acadian Asset Management LLC raised its stake in Northrim BanCorp by 59.8% in the second quarter. Acadian Asset Management LLC now owns 8,585 shares of the financial services provider’s stock valued at $226,000 after buying an additional 3,211 shares during the period. Strs Ohio bought a new stake in Northrim BanCorp during the second quarter valued at approximately $362,000. AXA raised its stake in Northrim BanCorp by 315.4% in the first quarter. AXA now owns 16,200 shares of the financial services provider’s stock valued at $387,000 after buying an additional 12,300 shares during the period. Finally, Geode Capital Management LLC raised its stake in Northrim BanCorp by 2.4% in the first quarter. Geode Capital Management LLC now owns 30,465 shares of the financial services provider’s stock valued at $728,000 after buying an additional 726 shares during the period. Institutional investors and hedge funds own 67.80% of the company’s stock.
Northrim BanCorp Inc. (NASDAQ:NRIM) traded down 0.80% during midday trading on Friday, hitting $24.85. The stock had a trading volume of 6,662 shares. Northrim BanCorp Inc. has a 52-week low of $21.60 and a 52-week high of $29.75. The firm has a market capitalization of $171.02 million, a P/E ratio of 10.06 and a beta of 0.43. The firm has a 50-day moving average of $25.57 and a 200 day moving average of $26.01.
Northrim BanCorp (NASDAQ:NRIM) last announced its earnings results on Monday, August 1st. The financial services provider reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.01. Northrim BanCorp had a net margin of 16.59% and a return on equity of 9.58%. On average, equities analysts forecast that Northrim BanCorp Inc. will post $2.27 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Thursday, September 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.19%. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, September 13th. Northrim BanCorp’s dividend payout ratio (DPR) is 32.39%.
Separately, Zacks Investment Research lowered Northrim BanCorp from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 11th.
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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