Northrim BanCorp (NASDAQ:NRIM) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $61.27 and traded as high as $65.12. Northrim BanCorp shares last traded at $64.07, with a volume of 11,111 shares traded.

Northrim BanCorp Price Performance

The company has a 50-day simple moving average of $68.37 and a 200-day simple moving average of $61.27. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.79. The stock has a market cap of $352.51 million, a PE ratio of 10.93 and a beta of 0.73.

Northrim BanCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, September 5th were issued a dividend of $0.62 per share. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.48 annualized dividend and a dividend yield of 3.87%. Northrim BanCorp’s dividend payout ratio (DPR) is 42.32%.

Insider Activity

In other Northrim BanCorp news, Director Joseph Marushack acquired 493 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $60.22 per share, for a total transaction of $29,688.46. Following the acquisition, the director now directly owns 2,768 shares of the company’s stock, valued at $166,688.96. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Northrim BanCorp

A number of large investors have recently modified their holdings of the company. ClariVest Asset Management LLC acquired a new stake in shares of Northrim BanCorp in the 2nd quarter valued at $1,141,000. Elizabeth Park Capital Advisors Ltd. lifted its position in shares of Northrim BanCorp by 27.3% during the second quarter. Elizabeth Park Capital Advisors Ltd. now owns 46,316 shares of the financial services provider’s stock worth $2,670,000 after purchasing an additional 9,919 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Northrim BanCorp by 27.2% in the 2nd quarter. Renaissance Technologies LLC now owns 27,100 shares of the financial services provider’s stock valued at $1,562,000 after purchasing an additional 5,800 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Northrim BanCorp by 7.3% during the second quarter. American Century Companies Inc. now owns 84,730 shares of the financial services provider’s stock worth $4,884,000 after purchasing an additional 5,794 shares during the period. Finally, Los Angeles Capital Management LLC increased its stake in shares of Northrim BanCorp by 32.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 12,936 shares of the financial services provider’s stock valued at $921,000 after acquiring an additional 3,195 shares during the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.

About Northrim BanCorp

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.