Northrim BanCorp (NASDAQ:NRIM) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Northrim BanCorp, Inc. (NASDAQ:NRIM)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analyst Upgrades and Downgrades

Separately, Hovde Group initiated 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 Trading Down 1.2 %

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

Northrim BanCorp Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 3.36%. The ex-dividend date was Thursday, December 19th. Northrim BanCorp’s dividend payout ratio is presently 42.32%.

Insider Buying and Selling at Northrim BanCorp

In other news, Director Linda C. Thomas sold 2,550 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $79.00, for a total value of $201,450.00. Following the completion of the sale, the director now owns 1,172 shares in the company, valued at approximately $92,588. This trade represents a 68.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Northrim BanCorp

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its position in Northrim BanCorp by 13.1% during the 3rd quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 201 shares during the period. SG Americas Securities LLC purchased a new position in Northrim BanCorp in the third quarter worth $142,000. Fulton Bank N.A. acquired a new stake in Northrim BanCorp in the third quarter valued at $214,000. Ritholtz Wealth Management acquired a new position in shares of Northrim BanCorp during the 3rd quarter worth $226,000. Finally, Sei Investments Co. increased its holdings in shares of Northrim BanCorp by 15.0% in the 2nd quarter. Sei Investments Co. now owns 4,598 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.

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.