Northrim BanCorp Inc $NRIM Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC trimmed its position in shares of Northrim BanCorp Inc (NASDAQ:NRIM) by 71.0% in the first quarter, HoldingsChannel.com reports. The fund owned 20,707 shares of the financial services provider’s stock after selling 50,770 shares during the period. Lazard Asset Management LLC’s holdings in Northrim BanCorp were worth $474,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NRIM. Financial Management Professionals Inc. purchased a new stake in Northrim BanCorp during the fourth quarter worth about $27,000. Quarry LP boosted its stake in shares of Northrim BanCorp by 47.7% in the fourth 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 during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of Northrim BanCorp by 298.0% in the third quarter. CANADA LIFE ASSURANCE Co now owns 1,568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,174 shares during the period. Ameritas Investment Partners Inc. grew its holdings in shares of Northrim BanCorp by 227.2% in the third quarter. Ameritas Investment Partners Inc. now owns 1,816 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 1,261 shares in the last quarter. Finally, Clearstead Advisors LLC grew its holdings in shares of Northrim BanCorp by 192.4% in the fourth 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. 65.99% of the stock is owned by institutional investors and hedge funds.

Northrim BanCorp Price Performance

Shares of NASDAQ NRIM opened at $26.56 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.94. Northrim BanCorp Inc has a fifty-two week low of $19.60 and a fifty-two week high of $30.82. The firm has a market capitalization of $590.83 million, a PE ratio of 8.74 and a beta of 0.88. The stock’s 50-day simple moving average is $26.44 and its 200-day simple moving average is $25.08.

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 analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $53.79 million during the quarter, compared to the consensus estimate of $51.80 million. Northrim BanCorp had a return on equity of 17.33% and a net margin of 26.03%. As a group, equities research analysts forecast that Northrim BanCorp Inc will post 2.53 EPS for the current fiscal year.

Northrim BanCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 11th were issued a $0.16 dividend. The ex-dividend date was Thursday, June 11th. This represents a $0.64 annualized dividend and a dividend yield of 2.4%. Northrim BanCorp’s dividend payout ratio is presently 21.05%.

Insider Activity

In related news, EVP Jason Alexander Criqui sold 13,488 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $26.44, for a total value of $356,622.72. Following the transaction, the executive vice president directly owned 12,653 shares of the company’s stock, valued at $334,545.32. This trade represents a 51.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Northrim BanCorp 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.