Los Angeles Capital Management LLC Purchases 3,195 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM)

Los Angeles Capital Management LLC boosted its holdings in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 32.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,936 shares of the financial services provider’s stock after purchasing an additional 3,195 shares during the period. Los Angeles Capital Management LLC owned about 0.24% of Northrim BanCorp worth $921,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NRIM. Ritholtz Wealth Management acquired a new position in Northrim BanCorp during the 3rd quarter worth about $226,000. Fulton Bank N.A. bought a new stake in Northrim BanCorp in the third quarter valued at approximately $214,000. SG Americas Securities LLC acquired a new stake in Northrim BanCorp during the 3rd quarter valued at approximately $142,000. Elizabeth Park Capital Advisors Ltd. lifted its position in shares of Northrim BanCorp by 27.3% in the 2nd quarter. Elizabeth Park Capital Advisors Ltd. now owns 46,316 shares of the financial services provider’s stock worth $2,670,000 after purchasing an additional 9,919 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Northrim BanCorp by 15.0% in the 2nd quarter. Sei Investments Co. now owns 4,598 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.

Insider Activity

In other news, Director Linda C. Thomas sold 2,550 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $79.00, for a total transaction of $201,450.00. Following the completion of the sale, the director now owns 1,172 shares in the company, valued at $92,588. The trade was a 68.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.10% of the company’s stock.

Northrim BanCorp Price Performance

Shares of NASDAQ NRIM opened at $82.85 on Friday. The company has a market capitalization of $455.68 million, a PE ratio of 14.14 and a beta of 0.73. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. Northrim BanCorp, Inc. has a twelve month low of $43.92 and a twelve month high of $85.06. The firm has a fifty day simple moving average of $70.16 and a 200 day simple moving average of $63.12.

Northrim BanCorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, September 5th were paid a $0.62 dividend. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Thursday, September 5th. Northrim BanCorp’s payout ratio is 42.32%.

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.