Northrim BanCorp Inc $NRIM Shares Purchased by Punch & Associates Investment Management Inc.

Punch & Associates Investment Management Inc. raised its holdings in Northrim BanCorp Inc (NASDAQ:NRIM) by 7.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 326,410 shares of the financial services provider’s stock after buying an additional 23,510 shares during the quarter. Punch & Associates Investment Management Inc. owned about 1.47% of Northrim BanCorp worth $7,468,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Financial Management Professionals Inc. acquired a new position in shares of Northrim BanCorp during the fourth quarter valued at about $27,000. Quarry LP boosted its stake in Northrim BanCorp by 47.7% in the 4th quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 412 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Northrim BanCorp by 298.0% in the third quarter. CANADA LIFE ASSURANCE Co now owns 1,568 shares of the financial services provider’s stock worth $34,000 after buying an additional 1,174 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Northrim BanCorp by 227.2% in the third quarter. Ameritas Investment Partners Inc. now owns 1,816 shares of the financial services provider’s stock worth $39,000 after buying an additional 1,261 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its stake in shares of Northrim BanCorp by 192.4% during the fourth quarter. Clearstead Advisors LLC now owns 1,509 shares of the financial services provider’s stock worth $40,000 after buying an additional 993 shares during the period. Institutional investors and hedge funds own 65.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods initiated coverage on Northrim BanCorp in a research note on Wednesday, July 1st. They issued a “market perform” rating and a $30.00 target price for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Northrim BanCorp in a research report on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Northrim BanCorp currently has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Northrim BanCorp Stock Performance

Shares of NRIM stock opened at $27.09 on Friday. Northrim BanCorp Inc has a 52-week low of $19.60 and a 52-week high of $30.82. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.24. The stock has a market cap of $602.75 million, a PE ratio of 8.91 and a beta of 0.86. The business has a 50-day simple moving average of $26.03 and a 200-day simple moving average of $25.17.

Northrim BanCorp (NASDAQ:NRIM) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. Northrim BanCorp had a return on equity of 17.62% and a net margin of 26.03%.The firm had revenue of $52.63 million for the quarter, compared to analyst estimates of $51.80 million. On average, equities analysts expect that Northrim BanCorp Inc will post 2.53 EPS for the current year.

Northrim BanCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 11th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, June 11th. Northrim BanCorp’s dividend payout ratio (DPR) is currently 21.05%.

Northrim BanCorp Company Profile

Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.

With branches located across Alaska’s major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.