Bank of New York Mellon Corp Grows Position in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Bank of New York Mellon Corp raised its holdings in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) by 16.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,272 shares of the financial services provider's stock after buying an additional 7,009 shares during the quarter. Bank of New York Mellon Corp owned about 0.90% of Northrim BanCorp worth $3,840,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. DecisionPoint Financial LLC purchased a new stake in shares of Northrim BanCorp during the fourth quarter worth $39,000. FMR LLC boosted its position in shares of Northrim BanCorp by 13.1% during the 3rd 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. SG Americas Securities LLC boosted its position in shares of Northrim BanCorp by 25.8% during the 4th quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider's stock valued at $195,000 after acquiring an additional 513 shares during the last quarter. Sunpointe LLC acquired a new position in shares of Northrim BanCorp during the 4th quarter valued at about $339,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Northrim BanCorp by 150.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,679 shares of the financial services provider's stock valued at $404,000 after acquiring an additional 3,411 shares during the last quarter. Hedge funds and other institutional investors own 65.99% of the company's stock.

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Insider Buying and Selling at Northrim BanCorp

In other Northrim BanCorp news, CEO Michael G. Huston sold 453 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $89.18, for a total value of $40,398.54. Following the transaction, the chief executive officer now owns 23,759 shares of the company's stock, valued at $2,118,827.62. This represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.10% of the stock is currently owned by corporate insiders.

Northrim BanCorp Trading Down 0.3 %

Shares of NRIM stock traded down $0.19 on Friday, hitting $73.52. 49,021 shares of the stock traded hands, compared to its average volume of 27,234. The firm's 50-day moving average price is $80.40 and its two-hundred day moving average price is $76.79. Northrim BanCorp, Inc. has a twelve month low of $43.92 and a twelve month high of $91.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.85. The stock has a market capitalization of $405.90 million, a PE ratio of 11.11 and a beta of 0.82.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last posted its earnings results on Friday, January 24th. The financial services provider reported $1.95 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.72. Northrim BanCorp had a net margin of 18.87% and a return on equity of 14.86%. As a group, analysts anticipate that Northrim BanCorp, Inc. will post 8.05 EPS for the current year.

Northrim BanCorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were given a $0.64 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $2.56 dividend on an annualized basis and a yield of 3.48%. This is a boost from Northrim BanCorp's previous quarterly dividend of $0.62. Northrim BanCorp's dividend payout ratio is presently 38.67%.

Analyst Ratings Changes

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

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.