Northern Trust Corp Has $3.80 Million Holdings in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Northern Trust Corp lessened its holdings in Northrim BanCorp, Inc. (NASDAQ:NRIM) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,793 shares of the financial services provider’s stock after selling 205 shares during the period. Northern Trust Corp owned about 0.89% of Northrim BanCorp worth $3,803,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of Northrim BanCorp by 16.6% in the 4th quarter. Bank of New York Mellon Corp now owns 49,272 shares of the financial services provider’s stock worth $3,840,000 after acquiring an additional 7,009 shares during the last quarter. American Century Companies Inc. grew its position in Northrim BanCorp by 16.4% in the 4th quarter. American Century Companies Inc. now owns 122,173 shares of the financial services provider’s stock worth $9,522,000 after purchasing an additional 17,240 shares in the last quarter. JPMorgan Chase & Co. grew its position in 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 purchasing an additional 11,514 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Northrim BanCorp by 28.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 36,120 shares of the financial services provider’s stock worth $2,815,000 after purchasing an additional 7,961 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Northrim BanCorp in the 4th quarter worth about $1,794,000. Institutional investors and hedge funds own 65.99% of the company’s stock.

Analyst Ratings Changes

Separately, Hovde Group upped their price objective on shares of Northrim BanCorp from $99.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th.

Northrim BanCorp Trading Down 1.5%

Shares of NRIM stock opened at $87.35 on Friday. Northrim BanCorp, Inc. has a 52-week low of $51.50 and a 52-week 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 company has a 50-day simple moving average of $77.29 and a two-hundred day simple moving average of $79.67. The company has a market capitalization of $482.26 million, a price-to-earnings ratio of 13.19 and a beta of 0.93.

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

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.