Segall Bryant & Hamill LLC Takes $2.11 Million Position in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Segall Bryant & Hamill LLC purchased a new stake in Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 27,087 shares of the financial services provider's stock, valued at approximately $2,111,000. Segall Bryant & Hamill LLC owned approximately 0.49% of Northrim BanCorp as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Northrim BanCorp by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 301,117 shares of the financial services provider's stock valued at $23,469,000 after buying an additional 2,802 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 purchasing an additional 2,133 shares during the last quarter. American Century Companies Inc. boosted its position in Northrim BanCorp by 16.4% during the fourth quarter. American Century Companies Inc. now owns 122,173 shares of the financial services provider's stock worth $9,522,000 after purchasing an additional 17,240 shares in the last quarter. State Street Corp grew its holdings in Northrim BanCorp by 8.0% in the third 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 during the last quarter. Finally, De Lisle Partners LLP increased its position in shares of Northrim BanCorp by 11.6% in 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 in the last quarter. Institutional investors and hedge funds own 65.99% of the company's stock.

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Insider Buying and Selling

In other Northrim BanCorp news, CEO Michael G. Huston sold 453 shares of Northrim BanCorp stock in a transaction dated Friday, February 7th. The stock was 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 owns 23,759 shares in the company, valued at $2,118,827.62. The trade was a 1.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Northrim BanCorp Price Performance

NASDAQ:NRIM traded up $0.78 during trading hours on Tuesday, reaching $74.00. 26,446 shares of the company traded hands, compared to its average volume of 28,051. 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 firm's 50-day moving average is $79.98 and its 200-day moving average is $77.31. The stock has a market cap of $408.55 million, a P/E ratio of 11.18 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.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last posted its quarterly earnings data on Friday, January 24th. The financial services provider reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.72. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. Equities research analysts expect that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current fiscal year.

Northrim BanCorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.64 per share. The ex-dividend date was Thursday, March 6th. This is an increase from Northrim BanCorp's previous quarterly dividend of $0.62. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.46%. Northrim BanCorp's 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.