JPMorgan Chase & Co. Has $404,000 Stake in Northrim BanCorp, Inc. (NASDAQ:NRIM)

JPMorgan Chase & Co. raised its stake in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 150.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,679 shares of the financial services provider’s stock after buying an additional 3,411 shares during the quarter. JPMorgan Chase & Co.’s holdings in Northrim BanCorp were worth $404,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NRIM. Renaissance Technologies LLC boosted its stake in Northrim BanCorp by 27.2% during 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. Sei Investments Co. boosted its position in shares of Northrim BanCorp by 15.0% during the second 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 in the last quarter. SG Americas Securities LLC acquired a new position in shares of Northrim BanCorp in the 3rd quarter valued at $142,000. Fulton Bank N.A. acquired a new position in shares of Northrim BanCorp in the 3rd quarter valued at $214,000. Finally, Ritholtz Wealth Management bought a new stake in shares of Northrim BanCorp in the 3rd quarter valued at $226,000. 65.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Northrim BanCorp

In related news, Director Linda C. Thomas sold 2,550 shares of the stock in a transaction dated 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 in the company, valued at approximately $92,588. This trade represents a 68.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.10% of the company’s stock.

Northrim BanCorp Price Performance

NASDAQ NRIM opened at $82.81 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.85. The stock has a market cap of $455.46 million, a price-to-earnings ratio of 14.13 and a beta of 0.82. The business has a 50 day simple moving average of $80.93 and a 200 day simple moving average of $72.97. Northrim BanCorp, Inc. has a 52-week low of $43.92 and a 52-week high of $91.72.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings results on Friday, January 24th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.72. Northrim BanCorp had a net margin of 17.79% and a return on equity of 13.31%. Analysts anticipate that Northrim BanCorp, Inc. will post 6.38 earnings per share for the current fiscal year.

Northrim BanCorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.62. Northrim BanCorp’s dividend payout ratio is 42.32%.

Wall Street Analyst Weigh In

Separately, Hovde Group started coverage on Northrim BanCorp in a report on Friday, December 20th. They set an “outperform” rating and a $96.50 target price on the 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.