Northrim BanCorp, Inc. (NASDAQ:NRIM) CFO Jed W. Ballard Purchases 500 Shares

Northrim BanCorp, Inc. (NASDAQ:NRIM – Get Rating) CFO Jed W. Ballard bought 500 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were bought at an average cost of $47.50 per share, for a total transaction of $23,750.00. Following the transaction, the chief financial officer now owns 3,749 shares in the company, valued at approximately $178,077.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Northrim BanCorp Stock Performance

Shares of Northrim BanCorp stock opened at $46.34 on Tuesday. The stock’s fifty day moving average is $53.12 and its two-hundred day moving average is $49.86. The company has a market capitalization of $263.67 million, a PE ratio of 8.79 and a beta of 0.66. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. Northrim BanCorp, Inc. has a 52 week low of $38.42 and a 52 week high of $56.77.

Northrim BanCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Thursday, March 9th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend is Wednesday, March 8th. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.50. Northrim BanCorp’s dividend payout ratio is 45.54%.

Hedge Funds Weigh In On Northrim BanCorp

Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its position in Northrim BanCorp by 4.2% in the 1st quarter. BlackRock Inc. now owns 779,683 shares of the financial services provider’s stock valued at $33,971,000 after acquiring an additional 31,470 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Northrim BanCorp by 15.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 288,804 shares of the financial services provider’s stock worth $12,583,000 after buying an additional 39,047 shares during the period. LSV Asset Management lifted its holdings in shares of Northrim BanCorp by 7.8% in the 3rd quarter. LSV Asset Management now owns 135,606 shares of the financial services provider’s stock worth $5,636,000 after buying an additional 9,774 shares during the period. Millennium Management LLC lifted its holdings in shares of Northrim BanCorp by 214.1% in the 2nd quarter. Millennium Management LLC now owns 81,509 shares of the financial services provider’s stock worth $3,282,000 after buying an additional 55,560 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Northrim BanCorp by 0.8% in the 2nd quarter. Renaissance Technologies LLC now owns 72,400 shares of the financial services provider’s stock worth $2,915,000 after buying an additional 600 shares during the period. Institutional investors own 65.42% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Northrim BanCorp from a “buy” rating to a “hold” rating in a research report on Monday.

About Northrim BanCorp

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Northrim Bancorp, Inc operates as a bank holding company. The firm provides personal, business and commercial banking products and services. It operates through the following segments: Community Banking and Home Mortgage Lending. The Community Banking segment offers loan and deposit products to business and consumer customers in the company’s market areas.