US Bancorp DE Purchases Shares of 500 Northrim BanCorp Inc $NRIM

US Bancorp DE purchased a new stake in shares of Northrim BanCorp Inc (NASDAQ:NRIM) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 500 shares of the financial services provider’s stock, valued at approximately $37,000.

A number of other hedge funds have also added to or reduced their stakes in NRIM. Federated Hermes Inc. boosted its stake in shares of Northrim BanCorp by 388.6% in the 1st quarter. Federated Hermes Inc. now owns 342 shares of the financial services provider’s stock worth $25,000 after buying an additional 272 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of 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 worth $29,000 after buying an additional 133 shares during the last quarter. Olde Wealth Management LLC purchased a new position in shares of Northrim BanCorp in the 1st quarter worth approximately $55,000. Hohimer Wealth Management LLC boosted its stake in shares of Northrim BanCorp by 4.6% in the 1st quarter. Hohimer Wealth Management LLC now owns 2,881 shares of the financial services provider’s stock worth $211,000 after buying an additional 127 shares during the last quarter. Finally, Man Group plc purchased a new position in shares of Northrim BanCorp in the 4th quarter worth approximately $217,000. Institutional investors and hedge funds own 65.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NRIM. Wall Street Zen downgraded Northrim BanCorp from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Hovde Group upped their price objective on Northrim BanCorp from $99.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Northrim BanCorp currently has an average rating of “Buy” and a consensus price target of $104.00.

Northrim BanCorp Trading Down 0.6%

Shares of NRIM stock opened at $87.71 on Wednesday. The company’s fifty day simple moving average is $90.20 and its two-hundred day simple moving average is $83.83. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.91 and a quick ratio of 0.87. Northrim BanCorp Inc has a 1 year low of $63.63 and a 1 year high of $100.21. The stock has a market capitalization of $484.16 million, a price-to-earnings ratio of 10.98 and a beta of 1.00.

Northrim BanCorp (NASDAQ:NRIM) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.17). Northrim BanCorp had a net margin of 20.11% and a return on equity of 16.35%. The business had revenue of $50.23 million for the quarter, compared to the consensus estimate of $48.80 million. As a group, analysts anticipate that Northrim BanCorp Inc will post 8.05 earnings per share for the current year.

Northrim BanCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, June 5th were issued a $0.64 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $2.56 annualized dividend and a dividend yield of 2.9%. Northrim BanCorp’s dividend payout ratio is presently 32.04%.

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.