Kennedy Capital Management LLC Sells 10,917 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

Kennedy Capital Management LLC cut its stake in Northrim BanCorp, Inc. (NASDAQ:NRIM) by 16.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,008 shares of the financial services provider’s stock after selling 10,917 shares during the quarter. Kennedy Capital Management LLC owned about 0.98% of Northrim BanCorp worth $2,728,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Huber Capital Management LLC boosted its position in Northrim BanCorp by 0.4% during the 1st quarter. Huber Capital Management LLC now owns 56,079 shares of the financial services provider’s stock valued at $2,833,000 after acquiring an additional 200 shares in the last quarter. Principal Securities Inc. purchased a new stake in Northrim BanCorp in the fourth quarter worth $28,000. Tower Research Capital LLC TRC grew its stake in Northrim BanCorp by 161.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 873 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 539 shares during the period. Empowered Funds LLC raised its holdings in Northrim BanCorp by 8.1% in the first quarter. Empowered Funds LLC now owns 18,499 shares of the financial services provider’s stock worth $934,000 after purchasing an additional 1,390 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Northrim BanCorp by 30.0% during the fourth quarter. BNP Paribas Financial Markets now owns 6,143 shares of the financial services provider’s stock valued at $351,000 after buying an additional 1,417 shares during the period. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Northrim BanCorp Stock Down 0.8 %

NRIM traded down $0.52 during midday trading on Wednesday, reaching $68.58. The company’s stock had a trading volume of 1,871 shares, compared to its average volume of 15,799. Northrim BanCorp, Inc. has a 1 year low of $38.25 and a 1 year high of $74.34. The stock’s 50-day moving average is $58.50 and its 200-day moving average is $52.82. The firm has a market capitalization of $377.19 million, a price-to-earnings ratio of 13.47 and a beta of 0.73. The company has a current ratio of 0.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.10.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.31. Northrim BanCorp had a return on equity of 13.82% and a net margin of 18.41%. The company had revenue of $46.49 million for the quarter, compared to the consensus estimate of $35.00 million. As a group, research analysts expect that Northrim BanCorp, Inc. will post 5.57 EPS for the current year.

Northrim BanCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Thursday, June 6th were issued a $0.61 dividend. The ex-dividend date was Thursday, June 6th. This represents a $2.44 dividend on an annualized basis and a yield of 3.56%. Northrim BanCorp’s dividend payout ratio is presently 47.56%.

Insiders Place Their Bets

In other Northrim BanCorp news, Director David J. Mccambridge acquired 550 shares of the company’s stock in a transaction on Friday, May 24th. The stock was acquired at an average cost of $53.93 per share, with a total value of $29,661.50. Following the purchase, the director now directly owns 10,112 shares of the company’s stock, valued at approximately $545,340.16. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Northrim BanCorp from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st.

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.