Huber Capital Management LLC Has $3.98 Million Stock Holdings in Northrim BanCorp Inc $NRIM

Huber Capital Management LLC increased its position in shares of Northrim BanCorp Inc (NASDAQ:NRIM) by 300.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,656 shares of the financial services provider’s stock after purchasing an additional 137,742 shares during the quarter. Huber Capital Management LLC’s holdings in Northrim BanCorp were worth $3,978,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in Northrim BanCorp by 34.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 538 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 138 shares during the last quarter. Federated Hermes Inc. boosted its stake in Northrim BanCorp by 300.0% in the third quarter. Federated Hermes Inc. now owns 1,452 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 1,089 shares during the last quarter. CWM LLC grew its holdings in Northrim BanCorp by 286.6% during the 3rd quarter. CWM LLC now owns 1,616 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 1,198 shares during the period. Assetmark Inc. raised its position in shares of Northrim BanCorp by 289.5% during the 3rd quarter. Assetmark Inc. now owns 1,780 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,323 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in shares of Northrim BanCorp by 227.2% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 1,816 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,261 shares during the last quarter. 65.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Northrim BanCorp news, CEO Michael G. Huston bought 1,500 shares of Northrim BanCorp stock in a transaction dated Thursday, January 29th. The shares were bought at an average price of $22.80 per share, with a total value of $34,200.00. Following the purchase, the chief executive officer owned 83,252 shares of the company’s stock, valued at $1,898,145.60. This trade represents a 1.83% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders acquired 2,790 shares of company stock valued at $64,179. 3.90% of the stock is currently owned by company insiders.

Northrim BanCorp Stock Performance

Shares of NASDAQ:NRIM traded down $0.05 during trading on Friday, hitting $22.40. 2,647 shares of the stock were exchanged, compared to its average volume of 193,892. The company has a market capitalization of $495.76 million, a price-to-earnings ratio of 7.80 and a beta of 0.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.87 and a current ratio of 0.93. Northrim BanCorp Inc has a 1-year low of $16.17 and a 1-year high of $30.82. The company’s fifty day simple moving average is $25.53 and its 200-day simple moving average is $24.25.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings results on Friday, January 23rd. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.10). Northrim BanCorp had a net margin of 25.17% and a return on equity of 17.66%. The company had revenue of $51.66 million during the quarter, compared to the consensus estimate of $52.70 million. Sell-side analysts expect that Northrim BanCorp Inc will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Thursday, March 5th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $0.64 annualized dividend and a yield of 2.9%. Northrim BanCorp’s dividend payout ratio is currently 22.30%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northrim BanCorp in a research note on Wednesday, December 24th. Wall Street Zen cut Northrim BanCorp from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Zacks Research cut Northrim BanCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Northrim BanCorp Company Profile

Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.

With branches located across Alaska’s major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.