Assenagon Asset Management S.A. Has $419,000 Stock Holdings in Northrim BanCorp, Inc. (NASDAQ:NRIM)

Assenagon Asset Management S.A. lowered its holdings in shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) by 53.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,299 shares of the financial services provider’s stock after selling 9,346 shares during the period. Assenagon Asset Management S.A. owned about 0.15% of Northrim BanCorp worth $419,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Principal Securities Inc. acquired a new position in Northrim BanCorp during the fourth quarter worth about $28,000. Tower Research Capital LLC TRC lifted its stake in Northrim BanCorp by 161.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 873 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 539 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Northrim BanCorp in the third quarter valued at approximately $53,000. SG Americas Securities LLC bought a new stake in shares of Northrim BanCorp during the fourth quarter worth $170,000. Finally, Teton Advisors Inc. acquired a new position in shares of Northrim BanCorp during the fourth quarter worth $240,000. 65.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Northrim BanCorp from a “buy” rating to a “hold” rating in a report on Tuesday.

Northrim BanCorp Trading Down 0.7 %

Shares of NASDAQ:NRIM traded down $0.40 during midday trading on Wednesday, hitting $54.51. 16,337 shares of the stock were exchanged, compared to its average volume of 11,831. The business’s 50-day moving average price is $49.28 and its 200 day moving average price is $50.67. Northrim BanCorp, Inc. has a 12 month low of $36.91 and a 12 month high of $59.90. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.79 and a current ratio of 0.81. The stock has a market capitalization of $299.81 million, a price-to-earnings ratio of 10.63 and a beta of 0.71.

Northrim BanCorp (NASDAQ:NRIM) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.43. The firm had revenue of $34.29 million for the quarter, compared to analyst estimates of $32.40 million. Northrim BanCorp had a net margin of 17.19% and a return on equity of 12.50%. Analysts predict that Northrim BanCorp, Inc. will post 5.61 earnings per share for the current year.

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.