Insider Buying: Northrim BanCorp, Inc. (NRIM) Director Buys 600 Shares of Stock

Northrim BanCorp, Inc. (NASDAQ:NRIM) Director Krystal Murphy Nelson acquired 600 shares of Northrim BanCorp stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average cost of $33.83 per share, for a total transaction of $20,298.00. Following the completion of the purchase, the director now directly owns 2,960 shares of the company’s stock, valued at $100,136.80. The acquisition was disclosed in a filing with the SEC, which is available through this link.

NASDAQ:NRIM traded up $1.08 during trading hours on Friday, hitting $34.50. The company’s stock had a trading volume of 16,062 shares, compared to its average volume of 14,088. The firm has a market capitalization of $236.33 million, a PE ratio of 12.06 and a beta of 0.71. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.16. Northrim BanCorp, Inc. has a twelve month low of $29.66 and a twelve month high of $45.40.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.01). The business had revenue of $23.30 million during the quarter, compared to analyst estimates of $23.10 million. Northrim BanCorp had a net margin of 20.56% and a return on equity of 9.91%. On average, analysts anticipate that Northrim BanCorp, Inc. will post 2.81 EPS for the current fiscal year.

Several analysts recently weighed in on NRIM shares. Zacks Investment Research raised Northrim BanCorp from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. BidaskClub raised Northrim BanCorp from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th.

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Northrim BanCorp by 0.6% in the third quarter. BlackRock Inc. now owns 527,600 shares of the financial services provider’s stock valued at $21,923,000 after purchasing an additional 3,331 shares during the last quarter. MetLife Investment Advisors LLC raised its position in Northrim BanCorp by 55.5% in the third quarter. MetLife Investment Advisors LLC now owns 5,486 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 1,957 shares during the last quarter. Vanguard Group Inc. raised its position in Northrim BanCorp by 8.9% in the third quarter. Vanguard Group Inc. now owns 347,731 shares of the financial services provider’s stock valued at $14,449,000 after purchasing an additional 28,493 shares during the last quarter. Vanguard Group Inc raised its position in Northrim BanCorp by 8.9% in the third quarter. Vanguard Group Inc now owns 347,731 shares of the financial services provider’s stock valued at $14,449,000 after purchasing an additional 28,493 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Northrim BanCorp by 42.5% in the fourth quarter. Rhumbline Advisers now owns 9,463 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 2,824 shares during the last quarter. 72.06% of the stock is currently owned by institutional investors and hedge funds.

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About Northrim BanCorp

Northrim BanCorp, Inc operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals in Alaska. It operates in two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, money market deposit accounts, certificates of deposit, and courier noncash deposits.

See Also: Certificate of Deposit (CD)

Insider Buying and Selling by Quarter for Northrim BanCorp (NASDAQ:NRIM)

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