Larry S. Cash Buys 450 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) Stock

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Northrim BanCorp, Inc. (NASDAQ:NRIM) Director Larry S. Cash purchased 450 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were purchased at an average price of $22.63 per share, with a total value of $10,183.50. Following the purchase, the director now directly owns 3,810 shares in the company, valued at approximately $86,220.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NASDAQ NRIM opened at $23.02 on Friday. Northrim BanCorp, Inc. has a 52 week low of $17.32 and a 52 week high of $42.28. The business has a 50-day simple moving average of $23.14 and a two-hundred day simple moving average of $27.66. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The company has a market cap of $146.68 million, a P/E ratio of 6.61 and a beta of 0.60.

Northrim BanCorp (NASDAQ:NRIM) last issued its earnings results on Monday, July 27th. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $0.53 by $0.99. The business had revenue of $34.99 million during the quarter, compared to the consensus estimate of $27.20 million. Northrim BanCorp had a return on equity of 11.36% and a net margin of 19.79%. Equities research analysts anticipate that Northrim BanCorp, Inc. will post 2.75 EPS for the current year.

Several brokerages have commented on NRIM. Zacks Investment Research upgraded Northrim BanCorp from a “hold” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research note on Friday. ValuEngine downgraded Northrim BanCorp from a “hold” rating to a “sell” rating in a research note on Wednesday, April 8th.

Several institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio boosted its position in shares of Northrim BanCorp by 9.0% during the 2nd quarter. Strs Ohio now owns 15,700 shares of the financial services provider’s stock valued at $394,000 after acquiring an additional 1,300 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Northrim BanCorp during the 2nd quarter valued at about $842,000. Wedge Capital Management L L P NC boosted its position in shares of Northrim BanCorp by 23.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 23,555 shares of the financial services provider’s stock valued at $592,000 after acquiring an additional 4,423 shares during the last quarter. Dalton Greiner Hartman Maher & Co. boosted its position in shares of Northrim BanCorp by 1.9% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 112,583 shares of the financial services provider’s stock valued at $2,830,000 after acquiring an additional 2,150 shares during the last quarter. Finally, Advisor Group Holdings Inc. bought a new stake in shares of Northrim BanCorp during the 1st quarter valued at about $197,000. Hedge funds and other institutional investors own 71.09% 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 in Alaska. It operates in two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, money market deposit accounts, certificates of deposit, and courier noncash deposits.

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