Elizabeth Park Capital Advisors Ltd. Sells 22,217 Shares of Northrim BanCorp Inc $NRIM

Elizabeth Park Capital Advisors Ltd. decreased its stake in shares of Northrim BanCorp Inc (NASDAQ:NRIM) by 46.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,567 shares of the financial services provider’s stock after selling 22,217 shares during the period. Northrim BanCorp accounts for about 2.1% of Elizabeth Park Capital Advisors Ltd.’s portfolio, making the stock its 25th largest holding. Elizabeth Park Capital Advisors Ltd. owned 0.46% of Northrim BanCorp worth $2,384,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners acquired a new stake in Northrim BanCorp during the first quarter worth approximately $2,474,000. Vanguard Group Inc. lifted its holdings in Northrim BanCorp by 10.8% during the 1st quarter. Vanguard Group Inc. now owns 333,609 shares of the financial services provider’s stock worth $24,427,000 after purchasing an additional 32,492 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Northrim BanCorp by 147.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 46,330 shares of the financial services provider’s stock worth $4,321,000 after purchasing an additional 27,635 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Northrim BanCorp by 299.5% in the 1st quarter. Panagora Asset Management Inc. now owns 26,927 shares of the financial services provider’s stock valued at $1,972,000 after purchasing an additional 20,186 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Northrim BanCorp by 34.0% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 71,858 shares of the financial services provider’s stock worth $5,261,000 after buying an additional 18,230 shares in the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NRIM. Zacks Research upgraded shares of Northrim BanCorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. Hovde Group boosted their price objective on shares of Northrim BanCorp from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northrim BanCorp in a report on Tuesday, October 14th. Finally, Wall Street Zen upgraded shares of Northrim BanCorp from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $33.00.

Northrim BanCorp Price Performance

Shares of NASDAQ:NRIM opened at $24.27 on Friday. The firm has a 50 day moving average of $22.58 and a 200-day moving average of $22.61. Northrim BanCorp Inc has a 12 month low of $16.17 and a 12 month high of $25.55. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $536.12 million, a PE ratio of 8.65 and a beta of 0.98.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Northrim BanCorp had a net margin of 25.32% and a return on equity of 18.12%. The business had revenue of $66.59 million for the quarter, compared to analysts’ expectations of $50.60 million. On average, equities research analysts predict 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.