Northrim BanCorp (NASDAQ:NRIM) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Northrim BanCorp, Inc. (NASDAQ:NRIM) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $60.36 and traded as high as $69.29. Northrim BanCorp shares last traded at $64.56, with a volume of 9,555 shares traded.

Northrim BanCorp Stock Down 3.0 %

The stock has a market capitalization of $355.08 million, a price-to-earnings ratio of 11.19 and a beta of 0.71. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.79. The firm has a 50-day moving average of $68.32 and a 200 day moving average of $60.36.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.31. The company had revenue of $46.49 million for the quarter, compared to analyst estimates of $35.00 million. Northrim BanCorp had a net margin of 18.41% and a return on equity of 13.61%. As a group, sell-side analysts forecast that Northrim BanCorp, Inc. will post 5.83 earnings per share for the current fiscal year.

Northrim BanCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, September 5th were paid a $0.62 dividend. This is a positive change 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 yield of 3.84%. Northrim BanCorp’s dividend payout ratio is currently 42.98%.

Insider Buying and Selling at Northrim BanCorp

In related news, Director Joseph Marushack bought 493 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $60.22 per share, for a total transaction of $29,688.46. Following the purchase, the director now owns 2,768 shares in the company, valued at $166,688.96. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Northrim BanCorp

A number of large investors have recently made changes to their positions in NRIM. Rhumbline Advisers boosted its stake in Northrim BanCorp by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 6,703 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 169 shares during the period. Huber Capital Management LLC lifted its holdings in shares of Northrim BanCorp by 0.4% during the first quarter. Huber Capital Management LLC now owns 56,079 shares of the financial services provider’s stock worth $2,833,000 after buying an additional 200 shares in the last quarter. Sei Investments Co. boosted its position in shares of Northrim BanCorp by 15.0% in the second quarter. Sei Investments Co. now owns 4,598 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 600 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Northrim BanCorp by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 47,275 shares of the financial services provider’s stock valued at $2,725,000 after acquiring an additional 1,149 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Northrim BanCorp by 8.1% in the first quarter. Empowered Funds LLC now owns 18,499 shares of the financial services provider’s stock valued at $934,000 after acquiring an additional 1,390 shares in the last quarter. Institutional investors own 65.99% of the company’s stock.

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.