Northrim BanCorp (NASDAQ:NRIM) Rating Lowered to Buy at StockNews.com

StockNews.com downgraded shares of Northrim BanCorp (NASDAQ:NRIMGet Rating) from a strong-buy rating to a buy rating in a report released on Monday morning.

Northrim BanCorp Stock Up 0.6 %

Northrim BanCorp stock opened at $55.71 on Monday. Northrim BanCorp has a twelve month low of $38.42 and a twelve month high of $56.10. The stock’s fifty day simple moving average is $46.55 and its 200-day simple moving average is $42.73. The company has a current ratio of 0.77, a quick ratio of 0.75 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $316.43 million, a P/E ratio of 10.92 and a beta of 0.66.

Insider Transactions at Northrim BanCorp

In related news, Director David W. Karp acquired 500 shares of the business’s stock in a transaction dated Wednesday, November 16th. The shares were acquired at an average price of $53.57 per share, with a total value of $26,785.00. Following the completion of the transaction, the director now owns 10,186 shares of the company’s stock, valued at $545,664.02. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of Northrim BanCorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. acquired a new stake in Northrim BanCorp in the third quarter valued at $339,000. Price T Rowe Associates Inc. MD acquired a new stake in Northrim BanCorp in the third quarter valued at $201,000. First Manhattan Co. raised its stake in Northrim BanCorp by 25.5% in the third quarter. First Manhattan Co. now owns 18,899 shares of the financial services provider’s stock valued at $785,000 after buying an additional 3,841 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Northrim BanCorp by 2.2% in the third quarter. Bank of New York Mellon Corp now owns 47,342 shares of the financial services provider’s stock valued at $1,967,000 after buying an additional 1,021 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Northrim BanCorp by 10.8% in the third quarter. BlackRock Inc. now owns 581,127 shares of the financial services provider’s stock valued at $24,152,000 after buying an additional 56,432 shares in the last quarter. 64.38% of the stock is currently owned by institutional investors and hedge funds.

Northrim BanCorp Company Profile

(Get Rating)

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 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, individual retirement and money market deposit accounts, certificates of deposit, and business sweep accounts.

Further Reading

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