ClariVest Asset Management LLC Invests $1.14 Million in Northrim BanCorp, Inc. (NASDAQ:NRIM)

ClariVest Asset Management LLC purchased a new stake in Northrim BanCorp, Inc. (NASDAQ:NRIM) in the second quarter, according to its most recent filing with the SEC. The fund purchased 19,802 shares of the financial services provider’s stock, valued at approximately $1,141,000.

Several other institutional investors and hedge funds have also made changes to their positions in NRIM. Principal Securities Inc. bought a new stake in Northrim BanCorp during the fourth quarter valued at $28,000. BNP Paribas Financial Markets grew its position in shares of Northrim BanCorp by 30.0% during the 4th 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 last quarter. Rhumbline Advisers raised its stake in Northrim BanCorp by 2.6% during the second quarter. Rhumbline Advisers now owns 6,703 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 169 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Northrim BanCorp by 19.1% in the second quarter. Los Angeles Capital Management LLC now owns 9,741 shares of the financial services provider’s stock worth $561,000 after acquiring an additional 1,561 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake 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 valued at $934,000 after acquiring an additional 1,390 shares during the period. 65.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Northrim BanCorp news, Director Joseph Marushack bought 493 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $60.22 per share, with a total value of $29,688.46. Following the purchase, the director now directly owns 2,768 shares of the company’s stock, valued at $166,688.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Northrim BanCorp Stock Performance

NRIM stock opened at $66.20 on Thursday. Northrim BanCorp, Inc. has a 1 year low of $38.25 and a 1 year high of $74.34. The stock has a market capitalization of $364.10 million, a price-to-earnings ratio of 12.90 and a beta of 0.71. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.79 and a current ratio of 0.83. The stock’s fifty day moving average is $64.58 and its two-hundred day moving average is $55.80.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.31. The firm had revenue of $46.49 million for the quarter, compared to the consensus estimate of $35.00 million. Northrim BanCorp had a net margin of 18.41% and a return on equity of 13.61%. On average, research analysts predict that Northrim BanCorp, Inc. will post 5.83 EPS for the current year.

Northrim BanCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, September 5th. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 3.75%. Northrim BanCorp’s payout ratio is currently 48.34%.

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. 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.