Northrim BanCorp (NASDAQ:NRIM) Director Anthony Drabek Sells 1,200 Shares of Stock

Northrim BanCorp Inc (NASDAQ:NRIM) Director Anthony Drabek sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $25.52, for a total transaction of $30,624.00. Following the sale, the director owned 14,120 shares of the company’s stock, valued at approximately $360,342.40. This represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Northrim BanCorp Stock Down 0.3%

Northrim BanCorp stock opened at $25.57 on Tuesday. Northrim BanCorp Inc has a twelve month low of $19.60 and a twelve month high of $30.82. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.94. The firm has a market cap of $568.93 million, a PE ratio of 8.41 and a beta of 0.88. The firm’s 50 day moving average price is $26.87 and its two-hundred day moving average price is $25.15.

Northrim BanCorp (NASDAQ:NRIM) last issued its 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. Northrim BanCorp had a net margin of 26.03% and a return on equity of 17.33%. The company had revenue of $53.79 million during the quarter, compared to analyst estimates of $51.80 million. On average, research analysts predict that Northrim BanCorp Inc will post 2.57 EPS for the current fiscal year.

Northrim BanCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, September 10th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 2.7%. Northrim BanCorp’s payout ratio is 21.05%.

Institutional Trading of Northrim BanCorp

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Northrim BanCorp in the 2nd quarter valued at approximately $81,184,000. Vanguard Group Inc. boosted its position in Northrim BanCorp by 326.4% during the third quarter. Vanguard Group Inc. now owns 1,639,351 shares of the financial services provider’s stock worth $35,508,000 after purchasing an additional 1,254,870 shares during the period. Dimensional Fund Advisors LP boosted its position in Northrim BanCorp by 248.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,346,512 shares of the financial services provider’s stock worth $29,166,000 after purchasing an additional 960,299 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Northrim BanCorp during the second quarter valued at approximately $21,890,000. Finally, De Lisle Partners LLP acquired a new position in Northrim BanCorp during the second quarter valued at approximately $13,220,000. Institutional investors own 65.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on NRIM shares. Keefe, Bruyette & Woods started coverage on Northrim BanCorp in a research report on Wednesday, July 1st. They issued a “market perform” rating and a $30.00 target price on the stock. Weiss Ratings reissued 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 given a Hold rating to the company. Based on data from MarketBeat, Northrim BanCorp has an average rating of “Moderate Buy” and an average price target of $31.50.

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.