Northrim BanCorp (NASDAQ:NRIM) EVP Jason Alexander Criqui Sells 13,488 Shares of Stock

Northrim BanCorp Inc (NASDAQ:NRIM) EVP Jason Alexander Criqui sold 13,488 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $26.44, for a total value of $356,622.72. Following the transaction, the executive vice president directly owned 12,653 shares in the company, valued at approximately $334,545.32. This represents a 51.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Northrim BanCorp Stock Up 2.8%

Shares of NASDAQ NRIM opened at $27.25 on Tuesday. Northrim BanCorp Inc has a one year low of $19.60 and a one year high of $30.82. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.91. The firm’s 50 day simple moving average is $26.32 and its two-hundred day simple moving average is $25.12. The stock has a market capitalization of $606.18 million, a P/E ratio of 8.96 and a beta of 0.86.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. The firm had revenue of $53.79 million for the quarter, compared to the consensus estimate of $51.80 million. Northrim BanCorp had a net margin of 26.03% and a return on equity of 17.62%. As a group, analysts expect that Northrim BanCorp Inc will post 2.53 EPS for the current fiscal year.

Northrim BanCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 11th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.64 annualized dividend and a yield of 2.3%. Northrim BanCorp’s payout ratio is currently 21.05%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NRIM. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northrim BanCorp in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods began 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. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.50.

Institutional Investors Weigh In On Northrim BanCorp

A number of large investors have recently modified their holdings of NRIM. Financial Management Professionals Inc. bought a new stake in shares of Northrim BanCorp during the fourth quarter valued at approximately $27,000. Western Wealth Management LLC bought a new position in Northrim BanCorp in the 1st quarter worth about $27,000. Quarry LP grew its holdings in shares of Northrim BanCorp by 47.7% during the fourth quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock valued at $34,000 after buying an additional 412 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Northrim BanCorp by 298.0% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 1,568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,174 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Northrim BanCorp by 227.2% during the third quarter. Ameritas Investment Partners Inc. now owns 1,816 shares of the financial services provider’s stock valued at $39,000 after buying an additional 1,261 shares during the last quarter. Institutional investors own 65.99% of the company’s stock.

About Northrim BanCorp

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.