Northrim BanCorp (NASDAQ:NRIM) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Northrim BanCorp, Inc. (NASDAQ:NRIM) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $62.59 and traded as high as $79.23. Northrim BanCorp shares last traded at $79.16, with a volume of 28,317 shares changing hands.

Northrim BanCorp Stock Performance

The firm has a market capitalization of $435.54 million, a price-to-earnings ratio of 13.51 and a beta of 0.73. The company has a 50-day moving average of $69.13 and a 200-day moving average of $62.59. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09.

Northrim BanCorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, September 5th were given a $0.62 dividend. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Thursday, September 5th. Northrim BanCorp’s dividend payout ratio (DPR) is presently 42.32%.

Institutional Investors Weigh In On Northrim BanCorp

Institutional investors have recently modified their holdings of the business. Elizabeth Park Capital Advisors Ltd. boosted its stake in Northrim BanCorp by 27.3% in the second quarter. Elizabeth Park Capital Advisors Ltd. now owns 46,316 shares of the financial services provider’s stock valued at $2,670,000 after acquiring an additional 9,919 shares during the period. Renaissance Technologies LLC increased its position in Northrim BanCorp by 27.2% in the second quarter. Renaissance Technologies LLC now owns 27,100 shares of the financial services provider’s stock worth $1,562,000 after buying an additional 5,800 shares during the period. Empowered Funds LLC lifted its stake in 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 buying an additional 1,390 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Northrim BanCorp by 19.1% during the second quarter. Los Angeles Capital Management LLC now owns 9,741 shares of the financial services provider’s stock valued at $561,000 after acquiring an additional 1,561 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Northrim BanCorp by 48.6% during the first quarter. BNP Paribas Financial Markets now owns 9,129 shares of the financial services provider’s stock worth $461,000 after acquiring an additional 2,986 shares during 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.