Northrim BanCorp, Inc. (NASDAQ:NRIM) Position Trimmed by Huber Capital Management LLC

Huber Capital Management LLC decreased its position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,837 shares of the financial services provider’s stock after selling 604 shares during the period. Huber Capital Management LLC owned 0.89% of Northrim BanCorp worth $3,806,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC grew its holdings in Northrim BanCorp by 95.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,642 shares of the financial services provider’s stock valued at $674,000 after purchasing an additional 4,228 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Northrim BanCorp by 28.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 36,120 shares of the financial services provider’s stock valued at $2,815,000 after acquiring an additional 7,961 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Northrim BanCorp by 202.7% during the 4th quarter. JPMorgan Chase & Co. now owns 17,193 shares of the financial services provider’s stock worth $1,340,000 after buying an additional 11,514 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Northrim BanCorp during the fourth quarter valued at $2,111,000. Finally, Vanguard Group Inc. lifted its holdings in Northrim BanCorp by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 301,117 shares of the financial services provider’s stock valued at $23,469,000 after purchasing an additional 2,802 shares during the last quarter. 65.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Michael G. Huston sold 453 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $89.18, for a total transaction of $40,398.54. Following the completion of the transaction, the chief executive officer now owns 23,759 shares of the company’s stock, valued at approximately $2,118,827.62. This trade represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.10% of the stock is currently owned by company insiders.

Northrim BanCorp Stock Up 0.8 %

Northrim BanCorp stock opened at $74.60 on Thursday. The company has a 50 day moving average of $79.91 and a 200-day moving average of $77.29. The stock has a market capitalization of $411.87 million, a PE ratio of 11.27 and a beta of 0.82. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. Northrim BanCorp, Inc. has a twelve month low of $43.92 and a twelve month high of $91.72.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results on Friday, January 24th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.72. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. On average, equities research analysts anticipate that Northrim BanCorp, Inc. will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were given a dividend of $0.64 per share. The ex-dividend date was Thursday, March 6th. This represents a $2.56 dividend on an annualized basis and a yield of 3.43%. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.62. Northrim BanCorp’s dividend payout ratio is currently 38.67%.

Wall Street Analyst Weigh In

Separately, Hovde Group began coverage on shares of Northrim BanCorp in a research report on Friday, December 20th. They issued an “outperform” rating and a $96.50 price objective for the company.

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. It operates through two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, individual retirement and money market deposit accounts, certificates of deposit, and business sweep accounts.