Geode Capital Management LLC Sells 1,653 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

Geode Capital Management LLC decreased its holdings in Northrim BanCorp, Inc. (NASDAQ:NRIM) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,245 shares of the financial services provider’s stock after selling 1,653 shares during the period. Geode Capital Management LLC owned 2.28% of Northrim BanCorp worth $9,765,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NRIM. Segall Bryant & Hamill LLC bought a new stake in Northrim BanCorp in the fourth quarter worth $2,111,000. Raymond James Financial Inc. bought a new position in Northrim BanCorp during the fourth quarter valued at $1,794,000. American Century Companies Inc. raised its stake in shares of Northrim BanCorp by 16.4% in the fourth quarter. American Century Companies Inc. now owns 122,173 shares of the financial services provider’s stock valued at $9,522,000 after acquiring an additional 17,240 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Northrim BanCorp by 202.7% in the 4th quarter. JPMorgan Chase & Co. now owns 17,193 shares of the financial services provider’s stock worth $1,340,000 after acquiring an additional 11,514 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Northrim BanCorp by 8.0% during the 3rd quarter. State Street Corp now owns 107,568 shares of the financial services provider’s stock worth $7,661,000 after purchasing an additional 8,012 shares during the period. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Northrim BanCorp Stock Performance

Northrim BanCorp stock opened at $75.26 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.81. The firm has a market capitalization of $415.51 million, a P/E ratio of 11.37 and a beta of 0.73. Northrim BanCorp, Inc. has a 1-year low of $45.53 and a 1-year high of $91.72. The company’s 50-day moving average is $74.91 and its 200 day moving average is $77.33.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.82. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. The firm had revenue of $45.50 million for the quarter, compared to the consensus estimate of $44.10 million. Research analysts forecast that Northrim BanCorp, Inc. will post 8.05 EPS for the current year.

Insider Transactions at Northrim BanCorp

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 transaction, the chief executive officer now directly owns 23,759 shares in the company, valued at approximately $2,118,827.62. This represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.

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.