Sunpointe LLC Purchases Shares of 4,347 Northrim BanCorp, Inc. (NASDAQ:NRIM)

Sunpointe LLC purchased a new position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,347 shares of the financial services provider's stock, valued at approximately $339,000. Sunpointe LLC owned about 0.08% of Northrim BanCorp as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NRIM. FMR LLC increased its position in shares of Northrim BanCorp by 13.1% in the third quarter. FMR LLC now owns 1,731 shares of the financial services provider's stock valued at $123,000 after acquiring an additional 201 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Northrim BanCorp by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,677 shares of the financial services provider's stock worth $1,117,000 after purchasing an additional 457 shares during the last quarter. DecisionPoint Financial LLC bought a new stake in shares of Northrim BanCorp in the 4th quarter valued at about $39,000. SG Americas Securities LLC lifted its stake in Northrim BanCorp by 25.8% in the 4th quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider's stock valued at $195,000 after purchasing an additional 513 shares during the last quarter. Finally, Martingale Asset Management L P grew its holdings in Northrim BanCorp by 13.8% during the third quarter. Martingale Asset Management L P now owns 6,967 shares of the financial services provider's stock worth $496,000 after purchasing an additional 846 shares during the period. 65.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Hovde Group started coverage on Northrim BanCorp in a research note on Friday, December 20th. They issued an "outperform" rating and a $96.50 price target on the stock.

Northrim BanCorp Price Performance

Shares of NASDAQ:NRIM traded up $0.13 during trading on Monday, reaching $81.34. 11,272 shares of the company traded hands, compared to its average volume of 57,585. The firm has a market capitalization of $447.51 million, a PE ratio of 12.32 and a beta of 0.83. Northrim BanCorp, Inc. has a 52 week low of $43.92 and a 52 week high of $91.72. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The company's 50 day moving average is $80.93 and its two-hundred day moving average is $75.39.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.72. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. As a group, sell-side analysts predict that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current year.

Northrim BanCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, March 6th will be given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 3.15%. This is a boost from Northrim BanCorp's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, March 6th. Northrim BanCorp's dividend payout ratio is currently 38.67%.

Insider Buying and Selling

In related news, CEO Michael G. Huston sold 453 shares of the business's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $89.18, for a total transaction of $40,398.54. Following the sale, the chief executive officer now owns 23,759 shares in the company, valued at $2,118,827.62. The trade was a 1.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.10% of the stock is owned by corporate insiders.

Northrim BanCorp Profile

Northrim BanCorp, Inc operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals. It operates through two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, individual retirement and money market deposit accounts, certificates of deposit, and business sweep accounts.