Northrim BanCorp (NASDAQ:NRIM) Stock Crosses Above 200 Day Moving Average of $51.62

Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $51.62 and traded as high as $56.58. Northrim BanCorp shares last traded at $55.79, with a volume of 16,164 shares.

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 Price Performance

The company has a quick ratio of 0.79, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The firm has a market cap of $306.85 million, a PE ratio of 10.88 and a beta of 0.74. The stock has a 50 day moving average price of $51.46 and a two-hundred day moving average price of $51.62.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.43. Northrim BanCorp had a net margin of 17.19% and a return on equity of 12.50%. The business had revenue of $34.29 million for the quarter, compared to analyst estimates of $32.40 million. As a group, equities analysts expect that Northrim BanCorp, Inc. will post 5.61 earnings per share for the current year.

Northrim BanCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Thursday, June 6th were paid a $0.61 dividend. The ex-dividend date was Thursday, June 6th. This represents a $2.44 dividend on an annualized basis and a yield of 4.37%. Northrim BanCorp’s dividend payout ratio (DPR) is 47.56%.

Insider Buying and Selling at Northrim BanCorp

In other Northrim BanCorp news, Director David J. Mccambridge purchased 550 shares of Northrim BanCorp stock in a transaction on Friday, May 24th. The stock was bought at an average cost of $53.93 per share, with a total value of $29,661.50. Following the transaction, the director now owns 10,112 shares of the company’s stock, valued at approximately $545,340.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Northrim BanCorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teton Advisors Inc. acquired a new position in shares of Northrim BanCorp in the 4th quarter valued at $240,000. BNP Paribas Financial Markets increased its holdings in Northrim BanCorp by 30.0% in the fourth 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 in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Northrim BanCorp by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 468,780 shares of the financial services provider’s stock worth $26,819,000 after acquiring an additional 3,053 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Northrim BanCorp by 17.2% during the 4th quarter. Russell Investments Group Ltd. now owns 38,568 shares of the financial services provider’s stock worth $2,206,000 after acquiring an additional 5,650 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in shares of Northrim BanCorp by 34.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 8,300 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 2,140 shares during the period. 65.99% of the stock is owned by institutional investors and hedge funds.

Northrim BanCorp Company Profile

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.