American Century Companies Inc. Has $14.42 Million Stock Position in Northrim BanCorp Inc $NRIM

American Century Companies Inc. lifted its holdings in shares of Northrim BanCorp Inc (NASDAQ:NRIM) by 344.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 665,888 shares of the financial services provider’s stock after purchasing an additional 516,030 shares during the quarter. American Century Companies Inc. owned 3.01% of Northrim BanCorp worth $14,423,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in Northrim BanCorp by 21.5% during the 1st quarter. Royal Bank of Canada now owns 39,505 shares of the financial services provider’s stock worth $2,892,000 after purchasing an additional 6,990 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Northrim BanCorp during the 1st quarter worth approximately $210,000. AQR Capital Management LLC boosted its position in Northrim BanCorp by 171.3% during the 1st quarter. AQR Capital Management LLC now owns 13,352 shares of the financial services provider’s stock worth $978,000 after acquiring an additional 8,431 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Northrim BanCorp by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,182 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 156 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Northrim BanCorp by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 28,470 shares of the financial services provider’s stock valued at $2,085,000 after purchasing an additional 6,599 shares during the last quarter. Institutional investors own 65.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on NRIM shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Northrim BanCorp in a research note on Wednesday, December 24th. Zacks Research downgraded shares of Northrim BanCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Wall Street Zen downgraded Northrim BanCorp from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Insider Activity

In other news, CEO Michael G. Huston purchased 1,500 shares of the company’s stock in a transaction dated Thursday, January 29th. The stock was bought at an average cost of $22.80 per share, for a total transaction of $34,200.00. Following the purchase, the chief executive officer owned 83,252 shares of the company’s stock, valued at approximately $1,898,145.60. The trade was a 1.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 2,790 shares of company stock worth $64,179 in the last three months. 3.90% of the stock is currently owned by corporate insiders.

Northrim BanCorp Stock Performance

NASDAQ NRIM opened at $22.45 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $496.82 million, a price-to-earnings ratio of 7.83 and a beta of 0.93. The firm’s 50 day simple moving average is $25.61 and its 200 day simple moving average is $24.26. Northrim BanCorp Inc has a 1 year low of $16.17 and a 1 year high of $30.82.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings data on Friday, January 23rd. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.10). Northrim BanCorp had a net margin of 25.17% and a return on equity of 17.66%. The firm had revenue of $51.66 million for the quarter, compared to analyst estimates of $52.70 million. As a group, research analysts expect that Northrim BanCorp Inc will post 8.05 earnings per share for the current fiscal year.

Northrim BanCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Thursday, March 5th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Thursday, March 5th. Northrim BanCorp’s dividend payout ratio is currently 22.30%.

Northrim BanCorp 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.