Tudor Investment Corp ET AL Makes New Investment in Northrim BanCorp Inc $NRIM

Tudor Investment Corp ET AL purchased a new position in shares of Northrim BanCorp Inc (NASDAQ:NRIM) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,087 shares of the financial services provider’s stock, valued at approximately $457,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NRIM. Federated Hermes Inc. grew its stake in shares of Northrim BanCorp by 300.0% in the third quarter. Federated Hermes Inc. now owns 1,452 shares of the financial services provider’s stock valued at $31,000 after buying an additional 1,089 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings 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 worth $34,000 after buying an additional 1,174 shares during the last quarter. CWM LLC lifted its holdings in Northrim BanCorp by 286.6% during the 3rd quarter. CWM LLC now owns 1,616 shares of the financial services provider’s stock worth $35,000 after buying an additional 1,198 shares during the last quarter. Assetmark Inc. lifted its holdings in Northrim BanCorp by 289.5% during the 3rd quarter. Assetmark Inc. now owns 1,780 shares of the financial services provider’s stock worth $39,000 after buying an additional 1,323 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in Northrim BanCorp by 227.2% during the 3rd 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. 65.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Michael G. Huston purchased 1,500 shares of the stock in a transaction dated Thursday, January 29th. The shares were bought at an average cost of $22.80 per share, for a total transaction of $34,200.00. Following the transaction, the chief executive officer owned 83,252 shares in the company, valued at $1,898,145.60. This trade represents a 1.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders acquired 2,790 shares of company stock worth $64,179. 3.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on NRIM shares. Wall Street Zen downgraded Northrim BanCorp from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Zacks Research downgraded Northrim BanCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northrim BanCorp in a report on Wednesday, December 24th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Northrim BanCorp Stock Up 0.2%

Shares of NRIM stock opened at $24.58 on Thursday. Northrim BanCorp Inc has a 1 year low of $17.75 and a 1 year high of $30.82. The stock has a market cap of $543.91 million, a PE ratio of 8.57 and a beta of 0.91. The business’s fifty day moving average is $23.95 and its 200-day moving average is $24.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.90 and a current ratio of 0.93.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings results on Friday, January 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.10). Northrim BanCorp had a net margin of 25.17% and a return on equity of 17.66%. The firm had revenue of $51.66 million for the quarter, compared to analyst estimates of $52.70 million. Equities analysts expect that Northrim BanCorp Inc will post 8.05 earnings per share for the current fiscal year.

Northrim BanCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Thursday, March 5th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, March 5th. This represents a $0.64 annualized dividend and a dividend yield of 2.6%. Northrim BanCorp’s dividend payout ratio (DPR) is 22.30%.

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.