JPMorgan Chase & Co. Buys 3,411 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

JPMorgan Chase & Co. lifted its position in Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) by 150.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,679 shares of the financial services provider's stock after acquiring an additional 3,411 shares during the period. JPMorgan Chase & Co. owned 0.10% of Northrim BanCorp worth $404,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NRIM. State Street Corp increased its position in Northrim BanCorp by 8.0% during the 3rd quarter. State Street Corp now owns 107,568 shares of the financial services provider's stock valued at $7,661,000 after buying an additional 8,012 shares in the last quarter. Barclays PLC increased its position in Northrim BanCorp by 32.5% during the 3rd quarter. Barclays PLC now owns 20,689 shares of the financial services provider's stock valued at $1,474,000 after buying an additional 5,079 shares in the last quarter. FMR LLC increased its position in 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 buying an additional 201 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Northrim BanCorp by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 126,898 shares of the financial services provider's stock worth $9,040,000 after purchasing an additional 2,133 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Northrim BanCorp by 27.2% in the 2nd quarter. Renaissance Technologies LLC now owns 27,100 shares of the financial services provider's stock worth $1,562,000 after purchasing an additional 5,800 shares in the last quarter. Institutional investors own 65.99% of the company's stock.

Insider Activity at Northrim BanCorp

In other Northrim BanCorp news, Director Linda C. Thomas sold 2,550 shares of the firm's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $79.00, for a total transaction of $201,450.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by company insiders.

Northrim BanCorp Stock Performance

Shares of NRIM stock traded up $0.30 on Thursday, reaching $83.11. The stock had a trading volume of 23,905 shares, compared to its average volume of 55,916. The stock has a market cap of $457.11 million, a P/E ratio of 14.18 and a beta of 0.82. Northrim BanCorp, Inc. has a 1 year low of $43.92 and a 1 year 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 company has a 50 day simple moving average of $80.93 and a 200 day simple moving average of $72.97.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last released its quarterly earnings results on Friday, January 24th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.72. Northrim BanCorp had a return on equity of 13.31% and a net margin of 17.79%. Equities research analysts expect that Northrim BanCorp, Inc. will post 6.38 EPS 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 given a dividend of $0.64 per share. The ex-dividend date is Thursday, March 6th. This is an increase from Northrim BanCorp's previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a yield of 3.08%. Northrim BanCorp's payout ratio is 42.32%.

Analyst Upgrades and Downgrades

Separately, Hovde Group began coverage on Northrim BanCorp in a report on Friday, December 20th. They issued an "outperform" rating and a $96.50 target price for the company.

About Northrim BanCorp

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.