Jed Ballard Sells 3,492 Shares of Northrim BanCorp (NASDAQ:NRIM) Stock

Northrim BanCorp Inc (NASDAQ:NRIM) EVP Jed Ballard sold 3,492 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $25.91, for a total transaction of $90,477.72. Following the completion of the sale, the executive vice president directly owned 26,835 shares of the company’s stock, valued at $695,294.85. The trade was a 11.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Northrim BanCorp Trading Down 0.2%

Shares of NRIM stock traded down $0.05 during mid-day trading on Friday, reaching $25.75. The company’s stock had a trading volume of 69,691 shares, compared to its average volume of 159,976. The company has a quick ratio of 0.91, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $572.81 million, a PE ratio of 8.47 and a beta of 0.88. The company’s 50 day simple moving average is $26.86 and its 200-day simple moving average is $25.15. Northrim BanCorp Inc has a 12-month low of $19.60 and a 12-month high of $30.82.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. Northrim BanCorp had a return on equity of 17.33% and a net margin of 26.03%.The firm had revenue of $53.79 million during the quarter, compared to the consensus estimate of $51.80 million. On average, research analysts predict that Northrim BanCorp Inc will post 2.57 EPS for the current fiscal year.

Institutional Trading of Northrim BanCorp

Several large investors have recently modified their holdings of NRIM. Tower Research Capital LLC TRC increased its position in shares of Northrim BanCorp by 34.5% during the second quarter. Tower Research Capital LLC TRC now owns 538 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 138 shares during the last quarter. Western Wealth Management LLC purchased a new position in Northrim BanCorp in the first quarter valued at about $27,000. Quarry LP grew its stake in Northrim BanCorp by 47.7% during the 4th quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 412 shares in the last quarter. Clearstead Advisors LLC grew its stake in Northrim BanCorp by 192.4% during the 4th quarter. Clearstead Advisors LLC now owns 1,509 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 993 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Northrim BanCorp by 298.0% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 1,568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,174 shares during the last quarter. 65.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Northrim BanCorp in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods initiated coverage on Northrim BanCorp in a report on Wednesday, July 1st. They issued a “market perform” rating and a $30.00 price target for the company. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.50.

About Northrim BanCorp

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.