Martingale Asset Management L P Acquires 9,769 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

Martingale Asset Management L P grew its position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) by 140.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,736 shares of the financial services provider's stock after buying an additional 9,769 shares during the period. Martingale Asset Management L P owned approximately 0.30% of Northrim BanCorp worth $1,304,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. DecisionPoint Financial LLC bought a new position in Northrim BanCorp during the fourth quarter worth about $39,000. Quantbot Technologies LP bought a new position in shares of Northrim BanCorp during the fourth quarter worth approximately $112,000. FMR LLC raised its position in shares of Northrim BanCorp by 13.1% in the third 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. SG Americas Securities LLC boosted its stake in shares of Northrim BanCorp by 25.8% in the fourth quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider's stock valued at $195,000 after buying an additional 513 shares during the period. Finally, Semanteon Capital Management LP acquired a new stake in Northrim BanCorp during the fourth quarter worth approximately $201,000. Institutional investors and hedge funds own 65.99% of the company's stock.

Northrim BanCorp Price Performance

Northrim BanCorp stock traded up $0.87 during trading hours on Thursday, reaching $73.04. 5,924 shares of the stock were exchanged, compared to its average volume of 28,833. The stock has a 50 day moving average of $76.27 and a two-hundred day moving average of $77.15. The company has a market cap of $403.25 million, a P/E ratio of 11.10 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 twelve month low of $44.31 and a twelve month high of $91.72.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The financial services provider reported $1.95 earnings per share (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%. Equities analysts expect that Northrim BanCorp, Inc. will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were given a dividend of $0.64 per share. This is an increase from Northrim BanCorp's previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Thursday, March 6th. Northrim BanCorp's dividend payout ratio is currently 38.67%.

Insider Activity at Northrim BanCorp

In other 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 transaction, the chief executive officer now owns 23,759 shares of the company's stock, valued at approximately $2,118,827.62. This represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.