Huber Capital Management LLC Has $3.14 Million Stake in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Huber Capital Management LLC cut its stake in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,479 shares of the financial services provider’s stock after selling 1,600 shares during the quarter. Huber Capital Management LLC owned approximately 0.99% of Northrim BanCorp worth $3,140,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NRIM. Principal Securities Inc. bought a new position in shares of Northrim BanCorp during the fourth quarter worth about $28,000. Sei Investments Co. lifted its position in shares of Northrim BanCorp by 15.0% in the 2nd quarter. Sei Investments Co. now owns 4,598 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 600 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Northrim BanCorp by 30.0% in the 4th quarter. BNP Paribas Financial Markets now owns 6,143 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 1,417 shares during the period. Rhumbline Advisers boosted its stake in shares of Northrim BanCorp by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 6,703 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 169 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Northrim BanCorp by 19.1% during the second quarter. Los Angeles Capital Management LLC now owns 9,741 shares of the financial services provider’s stock worth $561,000 after buying an additional 1,561 shares during the period. 65.99% of the stock is owned by institutional investors and hedge funds.

Northrim BanCorp Price Performance

NRIM stock opened at $71.11 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The firm has a market cap of $391.11 million, a price-to-earnings ratio of 13.86 and a beta of 0.71. The company’s fifty day simple moving average is $66.46 and its 200 day simple moving average is $56.82. Northrim BanCorp, Inc. has a 12-month low of $38.25 and a 12-month high of $74.34.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.31. Northrim BanCorp had a return on equity of 13.61% and a net margin of 18.41%. The firm had revenue of $46.49 million during the quarter, compared to analyst estimates of $35.00 million. On average, analysts expect that Northrim BanCorp, Inc. will post 5.83 earnings per share for the current year.

Northrim BanCorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.49%. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Thursday, September 5th. Northrim BanCorp’s dividend payout ratio is presently 48.34%.

Insider Activity

In related news, Director Joseph Marushack bought 493 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $60.22 per share, with a total value of $29,688.46. Following the completion of the purchase, the director now directly owns 2,768 shares in the company, valued at $166,688.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.10% of the stock is currently owned by company 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.