Northrim BanCorp (NASDAQ:NRIM) Stock Crosses Above 200-Day Moving Average – Here’s Why

Northrim BanCorp, Inc. (NASDAQ:NRIM) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $70.75 and traded as high as $75.23. Northrim BanCorp shares last traded at $73.73, with a volume of 57,951 shares.

Analyst Ratings Changes

Separately, Hovde Group assumed coverage on Northrim BanCorp in a research report on Friday, December 20th. They set an “outperform” rating and a $96.50 price objective on the stock.

Northrim BanCorp Trading Down 1.2 %

The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The stock’s fifty day moving average price is $80.24 and its 200 day moving average price is $70.75. The stock has a market cap of $405.66 million, a P/E ratio of 12.58 and a beta of 0.82.

Northrim BanCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 19th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Thursday, December 19th. Northrim BanCorp’s dividend payout ratio is 42.32%.

Insider Transactions at Northrim BanCorp

In related news, Director Linda C. Thomas sold 2,550 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $79.00, for a total value of $201,450.00. Following the transaction, the director now owns 1,172 shares in the company, valued at $92,588. The trade was a 68.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NRIM. FMR LLC increased its position in shares of Northrim BanCorp by 13.1% during the third quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 201 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Northrim BanCorp in the 3rd quarter worth $142,000. Fulton Bank N.A. bought a new position in shares of Northrim BanCorp during the third quarter valued at $214,000. Ritholtz Wealth Management purchased a new stake in shares of Northrim BanCorp during the third quarter valued at $226,000. Finally, Sei Investments Co. increased its holdings in Northrim BanCorp by 15.0% in the 2nd quarter. Sei Investments Co. now owns 4,598 shares of the financial services provider’s stock worth $265,000 after buying an additional 600 shares in the last quarter. 65.99% of the stock is owned by hedge funds and other institutional investors.

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.