Northrim BanCorp, Inc. (NASDAQ:NRIM) Shares Purchased by State Street Corp

State Street Corp lifted its holdings in Northrim BanCorp, Inc. (NASDAQ:NRIM - Free Report) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,568 shares of the financial services provider's stock after purchasing an additional 8,012 shares during the quarter. State Street Corp owned 1.96% of Northrim BanCorp worth $7,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. American Century Companies Inc. lifted its position in Northrim BanCorp by 7.3% during the second quarter. American Century Companies Inc. now owns 84,730 shares of the financial services provider's stock valued at $4,884,000 after purchasing an additional 5,794 shares in the last quarter. De Lisle Partners LLP grew its stake in shares of Northrim BanCorp by 11.6% in the 3rd quarter. De Lisle Partners LLP now owns 77,095 shares of the financial services provider's stock worth $5,476,000 after buying an additional 8,000 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Northrim BanCorp by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 47,275 shares of the financial services provider's stock worth $2,725,000 after acquiring an additional 1,149 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. raised its holdings in Northrim BanCorp by 27.3% during the 2nd quarter. Elizabeth Park Capital Advisors Ltd. now owns 46,316 shares of the financial services provider's stock valued at $2,670,000 after buying an additional 9,919 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Northrim BanCorp by 27.2% in the 2nd quarter. Renaissance Technologies LLC now owns 27,100 shares of the financial services provider's stock worth $1,562,000 after acquiring an additional 5,800 shares during the last quarter. Institutional investors own 65.99% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity at Northrim BanCorp

In other news, Director Linda C. Thomas sold 2,550 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $79.00, for a total transaction of $201,450.00. Following the completion of the transaction, the director now directly owns 1,172 shares of the company's stock, valued at $92,588. This represents a 68.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 4.10% of the stock is owned by insiders.

Northrim BanCorp Stock Down 3.4 %

Shares of NASDAQ:NRIM traded down $2.75 during trading on Friday, reaching $77.06. The stock had a trading volume of 47,460 shares, compared to its average volume of 18,997. Northrim BanCorp, Inc. has a one year low of $43.92 and a one year high of $91.72. The firm's 50-day simple moving average is $78.72 and its 200 day simple moving average is $69.40. 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 $423.98 million, a P/E ratio of 13.15 and a beta of 0.81.

Northrim BanCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 19th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $2.48 annualized dividend and a yield of 3.22%. Northrim BanCorp's payout ratio is presently 42.32%.

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.