Squarepoint Ops LLC Increases Holdings in Northrim BanCorp, Inc. (NRIM)
Squarepoint Ops LLC raised its stake in Northrim BanCorp, Inc. (NASDAQ:NRIM) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,003 shares of the financial services provider’s stock after buying an additional 279 shares during the quarter. Squarepoint Ops LLC owned about 0.22% of Northrim BanCorp worth $493,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Heritage Trust Co acquired a new stake in shares of Northrim BanCorp in the fourth quarter valued at approximately $47,000. MetLife Investment Advisors LLC raised its holdings in shares of Northrim BanCorp by 55.5% in the third quarter. MetLife Investment Advisors LLC now owns 5,486 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 1,957 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Northrim BanCorp by 42.5% in the fourth quarter. Rhumbline Advisers now owns 9,463 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 2,824 shares during the last quarter. John W. Rosenthal Capital Management Inc. raised its holdings in shares of Northrim BanCorp by 165.8% in the fourth quarter. John W. Rosenthal Capital Management Inc. now owns 10,000 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 6,238 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Northrim BanCorp by 20.0% in the fourth quarter. Bank of America Corp DE now owns 10,077 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 1,681 shares during the last quarter. 71.03% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on NRIM shares. Zacks Investment Research downgraded shares of Northrim BanCorp from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. BidaskClub upgraded shares of Northrim BanCorp from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th.
Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings data on Monday, January 28th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.08). Northrim BanCorp had a net margin of 20.76% and a return on equity of 9.96%. The business had revenue of $23.86 million during the quarter, compared to analyst estimates of $23.80 million. On average, analysts predict that Northrim BanCorp, Inc. will post 2.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Thursday, March 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.50%. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, March 13th. Northrim BanCorp’s payout ratio is presently 41.96%.
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Northrim BanCorp Profile
Northrim BanCorp, Inc operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals in Alaska. It operates in two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, money market deposit accounts, certificates of deposit, and courier noncash deposits.
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