Ritholtz Wealth Management Has $342,000 Stock Holdings in Northrim BanCorp Inc (NASDAQ:NRIM)

Ritholtz Wealth Management trimmed its holdings in shares of Northrim BanCorp Inc (NASDAQ:NRIM) by 24.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,665 shares of the financial services provider’s stock after selling 1,486 shares during the quarter. Ritholtz Wealth Management owned 0.08% of Northrim BanCorp worth $342,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. First Manhattan CO. LLC. boosted its holdings in shares of Northrim BanCorp by 0.6% in the fourth quarter. First Manhattan CO. LLC. now owns 22,625 shares of the financial services provider’s stock valued at $1,763,000 after buying an additional 125 shares during the period. Tower Research Capital LLC TRC lifted its position in Northrim BanCorp by 57.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 366 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 133 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Northrim BanCorp by 4.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,026 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 137 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Northrim BanCorp by 0.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 22,502 shares of the financial services provider’s stock worth $1,754,000 after purchasing an additional 202 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Northrim BanCorp by 25.4% during the 4th quarter. Wells Fargo & Company MN now owns 3,354 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 679 shares in the last quarter. 65.99% of the stock is owned by institutional investors.

Northrim BanCorp Stock Performance

Shares of NRIM stock opened at $86.62 on Friday. Northrim BanCorp Inc has a 12 month low of $54.58 and a 12 month high of $92.45. The company’s fifty day simple moving average is $84.42 and its 200-day simple moving average is $80.70. The firm has a market cap of $478.23 million, a PE ratio of 11.52 and a beta of 0.98. The company has a quick ratio of 0.82, a current ratio of 0.88 and a debt-to-equity ratio of 0.08.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.82. Northrim BanCorp had a net margin of 20.23% and a return on equity of 15.97%. The firm had revenue of $45.50 million for the quarter, compared to analyst estimates of $44.10 million. Equities research analysts expect that Northrim BanCorp Inc will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, June 5th were given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Thursday, June 5th. Northrim BanCorp’s dividend payout ratio is currently 34.04%.

Analysts Set New Price Targets

A number of analysts have recently commented on NRIM shares. Wall Street Zen lowered Northrim BanCorp from a “buy” rating to a “hold” rating in a report on Saturday. Hovde Group lifted their target price on Northrim BanCorp from $99.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, April 28th.

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.