Wedbush Securities Inc. Sells 16,528 Shares of Northrim BanCorp Inc (NASDAQ:NRIM)
Wedbush Securities Inc. decreased its position in Northrim BanCorp Inc (NASDAQ:NRIM) by 11.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,293 shares of the financial services provider’s stock after selling 16,528 shares during the period. Wedbush Securities Inc.’s holdings in Northrim BanCorp were worth $4,022,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in NRIM. FMR LLC raised its position in Northrim BanCorp by 467.6% in the first quarter. FMR LLC now owns 156,669 shares of the financial services provider’s stock worth $4,708,000 after buying an additional 129,069 shares during the period. Brandes Investment Partners LP bought a new position in Northrim BanCorp during the first quarter worth approximately $1,280,000. Ameriprise Financial Inc. raised its position in Northrim BanCorp by 16.5% in the first quarter. Ameriprise Financial Inc. now owns 299,968 shares of the financial services provider’s stock worth $9,014,000 after buying an additional 42,405 shares during the period. Legato Capital Management LLC bought a new position in Northrim BanCorp during the second quarter worth approximately $861,000. Finally, Vanguard Group Inc. raised its position in Northrim BanCorp by 11.1% in the first quarter. Vanguard Group Inc. now owns 239,132 shares of the financial services provider’s stock worth $7,186,000 after buying an additional 23,806 shares during the period. Institutional investors own 71.36% of the company’s stock.
Northrim BanCorp Inc (NASDAQ:NRIM) opened at 26.45 on Friday. The firm’s 50-day moving average price is $29.57 and its 200-day moving average price is $29.89. The company has a market cap of $182.77 million, a price-to-earnings ratio of 13.16 and a beta of 0.59. Northrim BanCorp Inc has a 1-year low of $24.35 and a 1-year high of $33.00.
Northrim BanCorp (NASDAQ:NRIM) last posted its earnings results on Monday, July 31st. The financial services provider reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. The company had revenue of $23.96 million during the quarter, compared to analyst estimates of $24.70 million. Northrim BanCorp had a net margin of 14.15% and a return on equity of 8.33%. Equities research analysts forecast that Northrim BanCorp Inc will post $2.00 EPS for the current fiscal year.
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Separately, ValuEngine upgraded Northrim BanCorp from a “hold” rating to a “buy” rating in a research note on Tuesday.
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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