Northrim BanCorp Inc (NRIM) Stake Reduced by Wedbush Securities Inc.

Wedbush Securities Inc. cut its stake in Northrim BanCorp Inc (NASDAQ:NRIM) by 11.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. 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. owned about 1.91% of Northrim BanCorp worth $4,022,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dalton Greiner Hartman Maher & Co. raised its stake in shares of Northrim BanCorp by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 47,924 shares of the financial services provider’s stock valued at $1,440,000 after buying an additional 196 shares during the last quarter. American International Group Inc. raised its stake in shares of Northrim BanCorp by 6.9% in the first quarter. American International Group Inc. now owns 4,137 shares of the financial services provider’s stock valued at $124,000 after buying an additional 267 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Northrim BanCorp by 6.1% in the first quarter. Bank of America Corp DE now owns 6,141 shares of the financial services provider’s stock valued at $185,000 after buying an additional 353 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Northrim BanCorp by 2.0% in the second quarter. Russell Investments Group Ltd. now owns 25,466 shares of the financial services provider’s stock valued at $774,000 after buying an additional 497 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Northrim BanCorp by 8.2% in the fourth quarter. Teachers Advisors LLC now owns 11,713 shares of the financial services provider’s stock valued at $370,000 after buying an additional 887 shares during the last quarter. 71.36% of the stock is currently owned by institutional investors.

Shares of Northrim BanCorp Inc (NRIM) opened at 26.45 on Friday. Northrim BanCorp Inc has a one year low of $24.35 and a one year high of $33.00. The stock’s 50 day moving average price is $29.57 and its 200 day moving average price is $29.89. The firm has a market cap of $182.77 million, a price-to-earnings ratio of 13.16 and a beta of 0.59.

Northrim BanCorp (NASDAQ:NRIM) last announced 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 for the quarter, compared to analyst estimates of $24.70 million. Northrim BanCorp had a return on equity of 8.33% and a net margin of 14.15%. On average, equities analysts anticipate that Northrim BanCorp Inc will post $2.00 earnings per share for the current fiscal year.

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Separately, ValuEngine raised Northrim BanCorp from a “hold” rating to a “buy” rating in a report on Tuesday.

About Northrim BanCorp

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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Institutional Ownership by Quarter for Northrim BanCorp (NASDAQ:NRIM)

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