Empowered Funds LLC Sells 3,132 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

Empowered Funds LLC trimmed its position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) by 15.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,565 shares of the financial services provider's stock after selling 3,132 shares during the period. Empowered Funds LLC owned about 0.32% of Northrim BanCorp worth $1,369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC increased its position in Northrim BanCorp by 25.8% during the fourth quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider's stock worth $195,000 after buying an additional 513 shares during the last quarter. Ritholtz Wealth Management increased its position in Northrim BanCorp by 94.0% during the fourth quarter. Ritholtz Wealth Management now owns 6,151 shares of the financial services provider's stock worth $479,000 after buying an additional 2,980 shares during the last quarter. JPMorgan Chase & Co. increased its position in Northrim BanCorp by 150.4% during the third quarter. JPMorgan Chase & Co. now owns 5,679 shares of the financial services provider's stock worth $404,000 after buying an additional 3,411 shares during the last quarter. Barclays PLC increased its position in Northrim BanCorp by 32.5% during the third quarter. Barclays PLC now owns 20,689 shares of the financial services provider's stock worth $1,474,000 after buying an additional 5,079 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Northrim BanCorp by 1.7% during the third quarter. Geode Capital Management LLC now owns 126,898 shares of the financial services provider's stock worth $9,040,000 after buying an additional 2,133 shares during the last quarter. 65.99% of the stock is currently owned by hedge funds and other institutional investors.

Northrim BanCorp Stock Performance

Shares of NASDAQ:NRIM traded down $1.29 during midday trading on Thursday, hitting $83.69. The company's stock had a trading volume of 33,322 shares, compared to its average volume of 60,028. The stock has a market capitalization of $460.30 million, a price-to-earnings ratio of 12.64 and a beta of 0.83. The stock's 50 day simple moving average is $81.07 and its 200 day simple moving average is $74.98. Northrim BanCorp, Inc. has a fifty-two week low of $43.92 and a fifty-two week 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.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last issued its quarterly earnings results on Friday, January 24th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating 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, research analysts anticipate that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current year.

Northrim BanCorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, March 6th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from Northrim BanCorp's previous quarterly dividend of $0.62. Northrim BanCorp's dividend payout ratio (DPR) is presently 37.46%.

Insider Activity at Northrim BanCorp

In related news, CEO Michael G. Huston sold 453 shares of the 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 completion of the sale, the chief executive officer now owns 23,759 shares in the company, valued at approximately $2,118,827.62. This trade represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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