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

Northrim BanCorp Inc (NASDAQ:NRIM) EVP Jason Alexander Criqui sold 13,488 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $26.44, for a total value of $356,622.72. Following the completion of the sale, the executive vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Northrim BanCorp Price Performance

Shares of NASDAQ NRIM opened at $27.08 on Wednesday. The stock’s 50-day simple moving average is $26.36 and its 200-day simple moving average is $25.11. The firm has a market capitalization of $602.53 million, a PE ratio of 8.91 and a beta of 0.88. Northrim BanCorp Inc has a fifty-two week low of $19.60 and a fifty-two week high of $30.82. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.94.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. Northrim BanCorp had a return on equity of 17.33% and a net margin of 26.03%.The firm had revenue of $53.79 million during the quarter, compared to the consensus estimate of $51.80 million. As a group, equities research analysts forecast that Northrim BanCorp Inc will post 2.53 EPS for the current fiscal year.

Northrim BanCorp Announces Dividend

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

Institutional Trading of Northrim BanCorp

Several hedge funds have recently made changes to their positions in NRIM. Tower Research Capital LLC TRC raised its holdings in Northrim BanCorp by 34.5% during the second quarter. Tower Research Capital LLC TRC now owns 538 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 138 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Northrim BanCorp by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,182 shares of the financial services provider’s stock valued at $233,000 after buying an additional 156 shares during the period. Creative Planning grew its holdings in Northrim BanCorp by 11.2% during the second quarter. Creative Planning now owns 3,096 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 313 shares during the period. Occudo Quantitative Strategies LP lifted its holdings in Northrim BanCorp by 9.8% in the second quarter. Occudo Quantitative Strategies LP now owns 3,960 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 355 shares during the period. Finally, Quarry LP lifted its holdings in Northrim BanCorp by 47.7% in the fourth quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 412 shares during the period. Institutional investors and hedge funds own 65.99% of the company’s stock.

Wall Street Analyst Weigh In

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

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.