Northrim BanCorp (NASDAQ:NRIM) Stock Passes Above 200-Day Moving Average – Time to Sell?

Northrim BanCorp, Inc. (NASDAQ:NRIM)’s stock price crossed 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 traded.

Wall Street Analysts Forecast Growth

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

Northrim BanCorp Stock Down 1.2 %

The firm has a market capitalization of $405.66 million, a PE ratio of 12.58 and a beta of 0.82. The firm’s 50-day moving average is $80.24 and its 200 day moving average is $70.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.85.

Northrim BanCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 19th were given a $0.62 dividend. The ex-dividend date was Thursday, December 19th. This represents a $2.48 annualized dividend and a dividend yield of 3.36%. Northrim BanCorp’s dividend payout ratio is presently 42.32%.

Insider Buying and Selling

In other Northrim BanCorp news, Director Linda C. Thomas sold 2,550 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $79.00, for a total transaction of $201,450.00. Following the transaction, the director now owns 1,172 shares of the company’s stock, valued at $92,588. This trade represents a 68.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Northrim BanCorp by 8.0% in the 3rd quarter. State Street Corp now owns 107,568 shares of the financial services provider’s stock worth $7,661,000 after purchasing an additional 8,012 shares during the period. Elizabeth Park Capital Advisors Ltd. increased its position in Northrim BanCorp by 27.3% during the 2nd 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. Barclays PLC lifted its position in Northrim BanCorp by 32.5% during the third quarter. Barclays PLC now owns 20,689 shares of the financial services provider’s stock valued at $1,474,000 after buying an additional 5,079 shares in the last quarter. Geode Capital Management LLC grew its stake in Northrim BanCorp by 1.7% during the third quarter. Geode Capital Management LLC now owns 126,898 shares of the financial services provider’s stock worth $9,040,000 after buying an additional 2,133 shares during the period. Finally, FMR LLC grew its stake in Northrim BanCorp by 13.1% during the third quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock worth $123,000 after buying an additional 201 shares during the period. 65.99% of the stock is owned by hedge funds and other institutional investors.

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.