Northrim BanCorp, Inc. (NASDAQ:NRIM) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its position in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,315 shares of the financial services provider’s stock after selling 500 shares during the period. Franklin Resources Inc. owned about 0.70% of Northrim BanCorp worth $2,986,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DecisionPoint Financial LLC purchased a new stake in Northrim BanCorp during the 4th quarter worth about $39,000. Quantbot Technologies LP acquired a new stake in shares of Northrim BanCorp during the 4th quarter worth about $112,000. FMR LLC lifted its stake in Northrim BanCorp by 13.1% during the third quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 201 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Northrim BanCorp by 25.8% in the fourth quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 513 shares in the last quarter. Finally, Semanteon Capital Management LP purchased a new position in Northrim BanCorp in the fourth quarter valued at approximately $201,000. Institutional investors and hedge funds own 65.99% of the company’s stock.

Northrim BanCorp Stock Up 0.3 %

NRIM opened at $68.58 on Friday. Northrim BanCorp, Inc. has a one year low of $44.18 and a one year high of $91.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.85. The stock has a market capitalization of $378.63 million, a P/E ratio of 10.36 and a beta of 0.73. The business’s 50-day simple moving average is $77.36 and its 200-day simple moving average is $77.17.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings results on Friday, January 24th. The financial services provider reported $1.95 EPS 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%. Analysts anticipate that Northrim BanCorp, Inc. will post 8.05 EPS for the current year.

Northrim BanCorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were paid a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $2.56 dividend on an annualized basis and a yield of 3.73%. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.62. Northrim BanCorp’s dividend payout ratio is currently 38.67%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

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.