Hillsdale Investment Management Inc. acquired a new position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 35,780 shares of the financial services provider’s stock, valued at approximately $1,487,000. Hillsdale Investment Management Inc. owned about 0.52% of Northrim BanCorp as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC lifted its position in shares of Northrim BanCorp by 267.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,174 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 2,311 shares during the last quarter. John W. Rosenthal Capital Management Inc. acquired a new position in shares of Northrim BanCorp during the 3rd quarter worth about $155,000. Meeder Asset Management Inc. lifted its position in shares of Northrim BanCorp by 231.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 5,246 shares of the financial services provider’s stock worth $207,000 after purchasing an additional 3,663 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Northrim BanCorp by 21.2% during the 2nd quarter. First Trust Advisors LP now owns 9,714 shares of the financial services provider’s stock worth $384,000 after purchasing an additional 1,699 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Northrim BanCorp by 12.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 14,953 shares of the financial services provider’s stock worth $590,000 after purchasing an additional 1,599 shares during the last quarter. 70.95% of the stock is owned by institutional investors and hedge funds.

Northrim BanCorp stock opened at $36.58 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $253.21 million, a price-to-earnings ratio of 17.93 and a beta of 0.76. Northrim BanCorp, Inc. has a 12 month low of $32.60 and a 12 month high of $45.40.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results on Monday, October 29th. The financial services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13. The firm had revenue of $24.49 million during the quarter, compared to analysts’ expectations of $24.10 million. Northrim BanCorp had a return on equity of 9.28% and a net margin of 16.25%. As a group, analysts expect that Northrim BanCorp, Inc. will post 2.95 earnings per share for the current fiscal year.

NRIM has been the subject of several recent research reports. BidaskClub raised Northrim BanCorp from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 15th. Zacks Investment Research raised Northrim BanCorp from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Saturday. Finally, ValuEngine cut Northrim BanCorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th.

In other news, Director Karl L. Hanneman purchased 700 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was purchased at an average price of $37.80 per share, with a total value of $26,460.00. Following the acquisition, the director now directly owns 4,900 shares in the company, valued at approximately $185,220. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.80% of the company’s stock.

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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 professionals in Alaska. The company operates in two segments, Community Banking and Home Mortgage Lending. It offers various deposit products, including noninterest-bearing checking accounts and interest-bearing time deposits, checking accounts, and savings accounts, as well as money market deposit accounts, certificates of deposit, and courier noncash deposits.

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Institutional Ownership by Quarter for Northrim BanCorp (NASDAQ:NRIM)

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