Aaron Michael Schutt Buys 794 Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) Stock

Posted by Defense World Staff on Jun 2nd, 2023

Northrim BanCorp, Inc. (NASDAQ:NRIM – Get Rating) Director Aaron Michael Schutt purchased 794 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were purchased at an average cost of $37.62 per share, for a total transaction of $29,870.28. Following the completion of the transaction, the director now directly owns 4,244 shares of the company’s stock, valued at approximately $159,659.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Northrim BanCorp Stock Performance

NASDAQ NRIM opened at $38.93 on Friday. Northrim BanCorp, Inc. has a 1 year low of $33.29 and a 1 year high of $56.77. The firm has a market capitalization of $219.95 million, a P/E ratio of 7.93 and a beta of 0.63. The firm’s fifty day moving average price is $41.12 and its two-hundred day moving average price is $48.97. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.11.

Northrim BanCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Thursday, June 8th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 6.16%. Northrim BanCorp’s dividend payout ratio is currently 48.88%.

Hedge Funds Weigh In On Northrim BanCorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Holdings Inc. increased its holdings in shares of Northrim BanCorp by 10.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,956 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 189 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Northrim BanCorp by 8.0% in the third quarter. Lazard Asset Management LLC now owns 2,630 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 195 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Northrim BanCorp by 3.9% in the first quarter. Citigroup Inc. now owns 7,778 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 291 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Northrim BanCorp by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 57,038 shares of the financial services provider’s stock valued at $3,112,000 after acquiring an additional 307 shares in the last quarter. Finally, Dorsey Wright & Associates acquired a new position in shares of Northrim BanCorp in the fourth quarter valued at about $30,000. 65.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Northrim BanCorp in a research report on Thursday, May 18th. They set a “hold” rating on the stock.

About Northrim BanCorp

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Northrim Bancorp, Inc operates as a bank holding company. The firm provides personal, business and commercial banking products and services. It operates through the following segments: Community Banking and Home Mortgage Lending. The Community Banking segment offers loan and deposit products to business and consumer customers in the company’s market areas.