Alaska Wealth Advisors Has $2.12 Million Holdings in Northrim BanCorp Inc $NRIM

Alaska Wealth Advisors grew its holdings in Northrim BanCorp Inc (NASDAQ:NRIM) by 300.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,791 shares of the financial services provider’s stock after acquiring an additional 73,343 shares during the quarter. Northrim BanCorp accounts for 0.3% of Alaska Wealth Advisors’ portfolio, making the stock its 29th largest holding. Alaska Wealth Advisors owned approximately 0.44% of Northrim BanCorp worth $2,118,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. CWM LLC raised its position in shares of Northrim BanCorp by 286.6% during the third quarter. CWM LLC now owns 1,616 shares of the financial services provider’s stock valued at $35,000 after buying an additional 1,198 shares during the last quarter. Assetmark Inc. bought a new position in Northrim BanCorp during the second quarter valued at about $43,000. Cullen Frost Bankers Inc. raised its holdings in Northrim BanCorp by 159.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 486 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 299 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Northrim BanCorp by 34.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 538 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 138 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Northrim BanCorp by 299.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,404 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 3,301 shares in the last quarter. Institutional investors own 65.99% of the company’s stock.

Insider Transactions at Northrim BanCorp

In other news, Director David J. Mccambridge purchased 1,150 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were acquired at an average price of $24.87 per share, with a total value of $28,600.50. Following the completion of the purchase, the director directly owned 41,598 shares of the company’s stock, valued at $1,034,542.26. The trade was a 2.84% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shauna Hegna bought 1,186 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were acquired at an average price of $25.25 per share, for a total transaction of $29,946.50. Following the completion of the transaction, the director owned 1,638 shares in the company, valued at approximately $41,359.50. This trade represents a 262.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NRIM has been the subject of a number of recent research reports. Hovde Group upped their target price on Northrim BanCorp from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Wall Street Zen raised shares of Northrim BanCorp from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Weiss Ratings restated a “buy (b)” rating on shares of Northrim BanCorp in a research note on Wednesday, December 24th. Finally, Zacks Research downgraded shares of Northrim BanCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.00.

Northrim BanCorp Stock Performance

NASDAQ:NRIM opened at $25.25 on Monday. The stock has a market capitalization of $557.77 million, a P/E ratio of 8.81 and a beta of 0.97. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 0.07. Northrim BanCorp Inc has a 1 year low of $16.17 and a 1 year high of $30.82. The firm has a 50 day moving average of $26.49 and a 200-day moving average of $23.76.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings results on Friday, January 23rd. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.10). The business had revenue of $51.66 million for the quarter, compared to analyst estimates of $52.70 million. Northrim BanCorp had a net margin of 25.17% and a return on equity of 18.13%. As a group, sell-side analysts anticipate that Northrim BanCorp Inc will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Thursday, December 18th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, December 18th. This represents a $0.64 annualized dividend and a yield of 2.5%. Northrim BanCorp’s dividend payout ratio is 22.78%.

Northrim BanCorp Company Profile

Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.

With branches located across Alaska’s major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.