Northrim BanCorp, Inc. (NASDAQ:NRIM) Shares Bought by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC raised its position in Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) by 95.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,642 shares of the financial services provider's stock after purchasing an additional 4,228 shares during the quarter. O Shaughnessy Asset Management LLC owned 0.16% of Northrim BanCorp worth $674,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Northrim BanCorp by 3.0% in the 3rd 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 period. FMR LLC increased its holdings in Northrim BanCorp by 13.1% during the 3rd quarter. FMR LLC now owns 1,731 shares of the financial services provider's stock worth $123,000 after purchasing an additional 201 shares during the period. State Street Corp raised its position in Northrim BanCorp by 8.0% in the 3rd quarter. State Street Corp now owns 107,568 shares of the financial services provider's stock valued at $7,661,000 after purchasing an additional 8,012 shares in the last quarter. Barclays PLC boosted its stake in shares of Northrim BanCorp by 32.5% in 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 during the period. Finally, Geode Capital Management LLC grew its position in shares of Northrim BanCorp by 1.7% during the third quarter. Geode Capital Management LLC now owns 126,898 shares of the financial services provider's stock worth $9,040,000 after buying an additional 2,133 shares in the last quarter. Institutional investors and hedge funds own 65.99% of the company's stock.

Analysts Set New Price Targets

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

Northrim BanCorp Stock Performance

Shares of NRIM stock traded up $1.32 during midday trading on Monday, hitting $69.90. The company had a trading volume of 1,639 shares, compared to its average volume of 28,774. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.81. The company's 50 day simple moving average is $77.36 and its 200 day simple moving average is $77.22. Northrim BanCorp, Inc. has a 52-week low of $44.18 and a 52-week high of $91.72. The stock has a market cap of $385.92 million, a price-to-earnings ratio of 10.57 and a beta of 0.73.

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

Northrim BanCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were given a $0.64 dividend. 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. This represents a $2.56 annualized dividend and a yield of 3.66%. Northrim BanCorp's dividend payout ratio is presently 38.67%.

Insider Buying and Selling at Northrim BanCorp

In related news, CEO Michael G. Huston sold 453 shares of the business'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 owns 23,759 shares of the company's stock, valued at approximately $2,118,827.62. The trade was a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is owned by corporate insiders.

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.