LSV Asset Management Sells 18,200 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

LSV Asset Management lessened its position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) by 13.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 117,881 shares of the financial services provider's stock after selling 18,200 shares during the period. LSV Asset Management owned 2.14% of Northrim BanCorp worth $9,188,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC boosted its stake in Northrim BanCorp by 13.1% during the third quarter. FMR LLC now owns 1,731 shares of the financial services provider's stock worth $123,000 after acquiring an additional 201 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Northrim BanCorp by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 15,677 shares of the financial services provider's stock valued at $1,117,000 after purchasing an additional 457 shares during the period. DecisionPoint Financial LLC acquired a new position in shares of Northrim BanCorp during the fourth quarter valued at about $39,000. 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 worth $195,000 after purchasing an additional 513 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Northrim BanCorp by 25.4% in the 4th quarter. Wells Fargo & Company MN now owns 3,354 shares of the financial services provider's stock valued at $261,000 after buying an additional 679 shares during the period. Institutional investors and hedge funds own 65.99% of the company's stock.

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 completion of the sale, the chief executive officer now directly owns 23,759 shares of the company's stock, valued at approximately $2,118,827.62. This represents a 1.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.10% of the company's stock.

Analysts Set New Price Targets

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

Northrim BanCorp Stock Up 1.0 %

NRIM stock traded up $0.70 during midday trading on Friday, reaching $72.87. 20,919 shares of the company's stock traded hands, compared to its average volume of 29,024. 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 firm's fifty day moving average price is $75.62 and its 200-day moving average price is $77.19. Northrim BanCorp, Inc. has a 52 week low of $44.68 and a 52 week high of $91.72. The company has a market cap of $402.32 million, a price-to-earnings ratio of 11.01 and a beta of 0.73.

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, topping the consensus estimate 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, sell-side analysts forecast that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current fiscal year.

Northrim BanCorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were issued a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $2.56 annualized dividend and a yield of 3.51%. This is an increase from Northrim BanCorp's previous quarterly dividend of $0.62. Northrim BanCorp's dividend payout ratio is 38.67%.

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.