Dimensional Fund Advisors LP Raises Stake in Northrim BanCorp Inc (NRIM)
Dimensional Fund Advisors LP boosted its stake in Northrim BanCorp Inc (NASDAQ:NRIM) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 495,552 shares of the financial services provider’s stock after buying an additional 16,446 shares during the period. Dimensional Fund Advisors LP owned 0.07% of Northrim BanCorp worth $14,891,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NRIM. American International Group Inc. increased its position in Northrim BanCorp by 6.9% in the first quarter. American International Group Inc. now owns 4,137 shares of the financial services provider’s stock valued at $124,000 after buying an additional 267 shares during the last quarter. Menta Capital LLC purchased a new position in Northrim BanCorp during the first quarter valued at approximately $354,000. Teachers Advisors LLC increased its position in Northrim BanCorp by 8.2% in the fourth quarter. Teachers Advisors LLC now owns 11,713 shares of the financial services provider’s stock valued at $370,000 after buying an additional 887 shares during the last quarter. AXA increased its position in Northrim BanCorp by 5.9% in the first quarter. AXA now owns 17,900 shares of the financial services provider’s stock valued at $538,000 after buying an additional 1,000 shares during the last quarter. Finally, FMR LLC purchased a new position in Northrim BanCorp during the fourth quarter valued at approximately $872,000. Institutional investors own 71.65% of the company’s stock.
Shares of Northrim BanCorp Inc (NASDAQ:NRIM) traded up 1.6443% on Wednesday, hitting $27.7489. The stock had a trading volume of 3,819 shares. Northrim BanCorp Inc has a 12-month low of $24.35 and a 12-month high of $33.00. The stock has a 50 day moving average of $29.40 and a 200 day moving average of $29.86. The firm has a market cap of $191.74 million, a price-to-earnings ratio of 13.8054 and a beta of 0.59.
Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings results on Monday, July 31st. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. Northrim BanCorp had a return on equity of 8.33% and a net margin of 14.15%. The company had revenue of $23.96 million for the quarter, compared to analysts’ expectations of $24.70 million. Equities analysts predict that Northrim BanCorp Inc will post $2.14 earnings per share for the current fiscal year.
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Separately, ValuEngine upgraded Northrim BanCorp from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th.
Northrim BanCorp Company Profile
Northrim BanCorp, Inc is a bank holding company. The Company operates in two segments: Community Banking and Home Mortgage Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. The Community Banking segment operates approximately 10 branches throughout Alaska.
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