Redmont Wealth Advisors LLC Raises Holdings in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Redmont Wealth Advisors LLC boosted its stake in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,196 shares of the financial services provider’s stock after acquiring an additional 1,799 shares during the quarter. Northrim BanCorp accounts for 1.2% of Redmont Wealth Advisors LLC’s holdings, making the stock its 23rd largest position. Redmont Wealth Advisors LLC owned approximately 0.25% of Northrim BanCorp worth $812,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in shares of Northrim BanCorp in the third quarter worth about $29,000. FMR LLC increased its stake in shares of Northrim BanCorp by 29.2% in the 3rd quarter. FMR LLC now owns 1,182 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 267 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Northrim BanCorp in the 3rd quarter worth about $53,000. California State Teachers Retirement System purchased a new position in Northrim BanCorp during the second quarter worth approximately $72,000. Finally, Wells Fargo & Company MN grew its holdings in Northrim BanCorp by 589.3% in the second quarter. Wells Fargo & Company MN now owns 2,330 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 1,992 shares during the period. 65.99% of the stock is owned by institutional investors and hedge funds.

Northrim BanCorp Price Performance

Shares of NRIM stock traded up $0.55 during trading hours on Friday, hitting $45.62. 10,707 shares of the company’s stock were exchanged, compared to its average volume of 11,557. Northrim BanCorp, Inc. has a fifty-two week low of $33.29 and a fifty-two week high of $59.90. The firm has a market cap of $250.91 million, a P/E ratio of 10.04 and a beta of 0.70. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $48.60 and a two-hundred day moving average of $48.84.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.05). Northrim BanCorp had a return on equity of 11.22% and a net margin of 16.04%. The company had revenue of $33.22 million for the quarter, compared to analyst estimates of $33.60 million. Sell-side analysts forecast that Northrim BanCorp, Inc. will post 5 EPS for the current year.

Northrim BanCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, March 7th were issued a $0.61 dividend. The ex-dividend date was Wednesday, March 6th. This represents a $2.44 dividend on an annualized basis and a yield of 5.35%. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.60. Northrim BanCorp’s dividend payout ratio (DPR) is presently 54.34%.

Northrim BanCorp Company 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.