Wedbush Securities Inc. Sells 10,295 Shares of Northrim BanCorp Inc (NRIM)

Wedbush Securities Inc. trimmed its position in shares of Northrim BanCorp Inc (NASDAQ:NRIM) by 7.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 121,998 shares of the financial services provider’s stock after selling 10,295 shares during the period. Wedbush Securities Inc. owned about 1.77% of Northrim BanCorp worth $4,264,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. American International Group Inc. increased its stake in shares of Northrim BanCorp by 6.9% during the first quarter. American International Group Inc. now owns 4,137 shares of the financial services provider’s stock worth $124,000 after buying an additional 267 shares during the period. Bank of America Corp DE increased its stake in shares of Northrim BanCorp by 6.1% during the first quarter. Bank of America Corp DE now owns 6,141 shares of the financial services provider’s stock worth $185,000 after buying an additional 353 shares during the period. Nationwide Fund Advisors increased its stake in shares of Northrim BanCorp by 37.7% during the second quarter. Nationwide Fund Advisors now owns 6,214 shares of the financial services provider’s stock worth $189,000 after buying an additional 1,700 shares during the period. Rhumbline Advisers purchased a new stake in shares of Northrim BanCorp during the second quarter worth approximately $222,000. Finally, New York State Common Retirement Fund increased its stake in shares of Northrim BanCorp by 119.1% during the second quarter. New York State Common Retirement Fund now owns 8,092 shares of the financial services provider’s stock worth $246,000 after buying an additional 4,399 shares during the period. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Separately, ValuEngine raised Northrim BanCorp from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 26th.

Northrim BanCorp (NASDAQ:NRIM) last announced its earnings results on Monday, July 31st. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.47 by $0.04. Northrim BanCorp had a return on equity of 8.73% and a net margin of 16.18%. The business had revenue of $23.96 million for the quarter, compared to the consensus estimate of $24.70 million.

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Northrim BanCorp Company Profile

Northrim BanCorp, Inc is a bank holding company. The Company operates in two segments: Community Banking and Home Mortgage Lending. The Community Banking segment’s principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. The Community Banking segment operates approximately 10 branches throughout Alaska.

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Institutional Ownership by Quarter for Northrim BanCorp (NASDAQ:NRIM)

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