Insider Selling: Northrim BanCorp, Inc. (NASDAQ:NRIM) CEO Sells 453 Shares of Stock

Northrim BanCorp, Inc. (NASDAQ:NRIM) CEO Michael G. Huston sold 453 shares of the business’s stock in a transaction on 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 directly owns 23,759 shares of the company’s stock, valued at $2,118,827.62. This represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Northrim BanCorp Stock Up 1.6 %

Shares of NRIM opened at $89.73 on Wednesday. The firm has a market capitalization of $493.52 million, a P/E ratio of 13.55 and a beta of 0.83. Northrim BanCorp, Inc. has a 12-month low of $43.92 and a 12-month high of $91.72. 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 firm has a fifty day moving average price of $81.18 and a 200-day moving average price of $74.27.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings data on Friday, January 24th. The financial services provider reported $1.95 earnings per share for the quarter, topping 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%. Equities research analysts expect that Northrim BanCorp, Inc. will post 7.96 earnings per share for the current year.

Northrim BanCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, March 6th will be paid a $0.64 dividend. The ex-dividend date is Thursday, March 6th. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.62. This represents a $2.56 dividend on an annualized basis and a yield of 2.85%. Northrim BanCorp’s dividend payout ratio is 37.46%.

Analyst Ratings Changes

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

Institutional Trading of Northrim BanCorp

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Northrim BanCorp by 13.1% in the third quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 201 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Northrim BanCorp by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 15,677 shares of the financial services provider’s stock worth $1,117,000 after acquiring an additional 457 shares during the period. DecisionPoint Financial LLC purchased a new stake in Northrim BanCorp in the fourth quarter worth about $39,000. SG Americas Securities LLC lifted its stake in Northrim BanCorp by 25.8% in the fourth quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 513 shares during the period. Finally, Martingale Asset Management L P raised its holdings in Northrim BanCorp by 13.8% in the third quarter. Martingale Asset Management L P now owns 6,967 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 846 shares in the last quarter. 65.99% of the stock is owned by hedge funds and other institutional investors.

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.