SG Americas Securities LLC Purchases New Shares in Northrim BanCorp, Inc. (NASDAQ:NRIM)

SG Americas Securities LLC purchased a new position in Northrim BanCorp, Inc. (NASDAQ:NRIM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,964 shares of the financial services provider’s stock, valued at approximately $170,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in Northrim BanCorp in the third quarter worth $29,000. FMR LLC grew its stake in Northrim BanCorp by 29.2% in the third quarter. FMR LLC now owns 1,182 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 267 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Northrim BanCorp in the third quarter worth $53,000. California State Teachers Retirement System purchased a new stake in Northrim BanCorp in the second quarter worth $72,000. Finally, Advisor Group Holdings Inc. grew its stake in Northrim BanCorp by 10.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,956 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 189 shares during the period. 65.99% of the stock is owned by hedge funds and other institutional investors.

Northrim BanCorp Price Performance

Shares of NRIM stock opened at $45.30 on Monday. The stock has a market cap of $249.15 million, a price-to-earnings ratio of 10.09 and a beta of 0.70. The business’s fifty day moving average is $48.75 and its 200 day moving average is $48.81. Northrim BanCorp, Inc. has a twelve month low of $33.29 and a twelve month high of $59.90. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.10.

Northrim BanCorp (NASDAQ:NRIM) last released its earnings results on Thursday, January 25th. The financial services provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.05). Northrim BanCorp had a return on equity of 11.22% and a net margin of 16.04%. The company had revenue of $33.22 million during the quarter, compared to the consensus estimate of $33.60 million. Research analysts expect that Northrim BanCorp, Inc. will post 5 EPS for the current fiscal year.

Northrim BanCorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, March 7th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 5.39%. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.60. The ex-dividend date was Wednesday, March 6th. Northrim BanCorp’s payout ratio is 54.34%.

About Northrim BanCorp

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.