Connor Clark & Lunn Investment Management Ltd. Buys 5,455 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) by 47.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 17,023 shares of the financial services provider's stock after buying an additional 5,455 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.31% of Northrim BanCorp worth $1,327,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in NRIM. Empowered Funds LLC raised its position in shares of Northrim BanCorp by 4.7% during the third quarter. Empowered Funds LLC now owns 20,697 shares of the financial services provider's stock valued at $1,474,000 after buying an additional 938 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position 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 buying an additional 457 shares during the last quarter. FMR LLC raised its position in shares of Northrim BanCorp by 13.1% during 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 during the last quarter. De Lisle Partners LLP raised its position in shares of Northrim BanCorp by 11.6% during the third quarter. De Lisle Partners LLP now owns 77,095 shares of the financial services provider's stock valued at $5,476,000 after buying an additional 8,000 shares during the last quarter. Finally, Martingale Asset Management L P raised its position in Northrim BanCorp by 13.8% in the third quarter. Martingale Asset Management L P now owns 6,967 shares of the financial services provider's stock worth $496,000 after purchasing an additional 846 shares in the last quarter. Institutional investors and hedge funds own 65.99% of the company's stock.

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Northrim BanCorp Price Performance

NASDAQ:NRIM traded down $0.19 during mid-day trading on Friday, hitting $73.52. The company's stock had a trading volume of 49,021 shares, compared to its average volume of 27,325. 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 current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $405.90 million, a price-to-earnings ratio of 11.11 and a beta of 0.82. The stock has a fifty day moving average of $80.40 and a 200-day moving average of $76.85.

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

Northrim BanCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.48%. This is a boost from Northrim BanCorp's previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Thursday, March 6th. Northrim BanCorp's dividend payout ratio is currently 38.67%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

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 transaction of $40,398.54. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.10% 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.