Northrim BanCorp (NASDAQ:NRIM) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $75.74 and traded as high as $81.75. Northrim BanCorp shares last traded at $80.58, with a volume of 19,268 shares trading hands.

Wall Street Analyst Weigh In

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

Northrim BanCorp Trading Up 1.6 %

The firm has a market capitalization of $450.56 million, a P/E ratio of 12.37 and a beta of 0.83. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $80.90 and a 200 day simple moving average of $75.74.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results on Friday, January 24th. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.72. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. As a group, research analysts forecast that Northrim BanCorp, Inc. will post 8.05 EPS for the current year.

Northrim BanCorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, March 6th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.13%. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, March 6th. Northrim BanCorp’s dividend payout ratio (DPR) is presently 38.67%.

Insider Buying and Selling at Northrim BanCorp

In other news, CEO Michael G. Huston sold 453 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $89.18, for a total transaction of $40,398.54. Following the completion of the transaction, the chief executive officer now owns 23,759 shares in the company, valued at $2,118,827.62. This trade represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Northrim BanCorp

Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in Northrim BanCorp by 57.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 366 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 133 shares during the last quarter. DecisionPoint Financial LLC purchased a new position in shares of Northrim BanCorp in the fourth quarter valued at $39,000. Quantbot Technologies LP bought a new stake in Northrim BanCorp in the fourth quarter worth $112,000. FMR LLC lifted its position in 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 purchasing an additional 201 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Northrim BanCorp by 25.8% in the 4th quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider’s stock worth $195,000 after buying an additional 513 shares in the last quarter. 65.99% of the stock is currently 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.