Insider Selling: Northrim BanCorp, Inc. (NASDAQ:NRIM) Director Sells 2,550 Shares of Stock

Northrim BanCorp, Inc. (NASDAQ:NRIM - Get Free Report) Director Linda C. Thomas sold 2,550 shares of the firm's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $79.00, for a total value of $201,450.00. Following the completion of the sale, the director now directly owns 1,172 shares of the company's stock, valued at $92,588. This trade represents a 68.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Northrim BanCorp Stock Down 2.2 %

Shares of NASDAQ:NRIM traded down $1.85 during mid-day trading on Friday, hitting $82.85. 18,747 shares of the company traded hands, compared to its average volume of 17,606. The stock has a market cap of $455.68 million, a P/E ratio of 14.14 and a beta of 0.73. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. Northrim BanCorp, Inc. has a 12-month low of $43.92 and a 12-month high of $85.06. The stock has a 50-day moving average price of $70.16 and a two-hundred day moving average price of $63.12.

Northrim BanCorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, September 5th were given a dividend of $0.62 per share. This is a boost from Northrim BanCorp's previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.48 annualized dividend and a dividend yield of 2.99%. Northrim BanCorp's payout ratio is presently 42.32%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NRIM. ClariVest Asset Management LLC purchased a new position in shares of Northrim BanCorp during the second quarter valued at approximately $1,141,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Northrim BanCorp during the third quarter valued at approximately $824,000. Elizabeth Park Capital Advisors Ltd. boosted its position in shares of Northrim BanCorp by 27.3% during the second quarter. Elizabeth Park Capital Advisors Ltd. now owns 46,316 shares of the financial services provider's stock valued at $2,670,000 after buying an additional 9,919 shares during the last quarter. State Street Corp boosted its position in Northrim BanCorp by 8.0% in the third quarter. State Street Corp now owns 107,568 shares of the financial services provider's stock worth $7,661,000 after purchasing an additional 8,012 shares during the last quarter. Finally, De Lisle Partners LLP boosted its position in Northrim BanCorp by 11.6% in the third quarter. De Lisle Partners LLP now owns 77,095 shares of the financial services provider's stock worth $5,476,000 after purchasing an additional 8,000 shares during the last quarter. Hedge funds and other institutional investors own 65.99% of the company's stock.

Northrim BanCorp Company 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.

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