Northrim BanCorp (NASDAQ:NRIM) Stock Price Crosses Above 200-Day Moving Average of $51.82

Northrim BanCorp, Inc. (NASDAQ:NRIM) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $51.82 and traded as high as $58.50. Northrim BanCorp shares last traded at $57.56, with a volume of 6,646 shares.

Analysts Set New Price Targets

Separately, StockNews.com lowered Northrim BanCorp from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st.

Northrim BanCorp Stock Performance

The business has a fifty day moving average of $53.94 and a 200 day moving average of $51.82. The company has a market cap of $316.58 million, a P/E ratio of 11.22 and a beta of 0.73. The company has a quick ratio of 0.79, a current ratio of 0.81 and a debt-to-equity ratio of 0.10.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.43. Northrim BanCorp had a net margin of 17.19% and a return on equity of 12.50%. The company had revenue of $34.29 million for the quarter, compared to analysts’ expectations of $32.40 million. On average, equities analysts predict that Northrim BanCorp, Inc. will post 5.61 EPS for the current year.

Northrim BanCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Thursday, June 6th were issued a $0.61 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $2.44 dividend on an annualized basis and a yield of 4.24%. Northrim BanCorp’s dividend payout ratio (DPR) is 47.56%.

Insider Activity

In related news, Director David J. Mccambridge purchased 550 shares of Northrim BanCorp stock in a transaction dated Friday, May 24th. The stock was purchased at an average cost of $53.93 per share, for a total transaction of $29,661.50. Following the completion of the acquisition, the director now directly owns 10,112 shares of the company’s stock, valued at $545,340.16. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Northrim BanCorp

A number of institutional investors have recently made changes to their positions in NRIM. Dimensional Fund Advisors LP increased its holdings in Northrim BanCorp by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 468,780 shares of the financial services provider’s stock valued at $26,819,000 after buying an additional 3,053 shares during the last quarter. Vanguard Group Inc. lifted its position in Northrim BanCorp by 0.6% during the first quarter. Vanguard Group Inc. now owns 292,798 shares of the financial services provider’s stock valued at $14,789,000 after purchasing an additional 1,795 shares during the last quarter. Kennedy Capital Management LLC grew its position in Northrim BanCorp by 18.0% in the third quarter. Kennedy Capital Management LLC now owns 65,876 shares of the financial services provider’s stock worth $2,610,000 after acquiring an additional 10,030 shares in the last quarter. Huber Capital Management LLC raised its holdings in Northrim BanCorp by 0.4% during the 1st quarter. Huber Capital Management LLC now owns 56,079 shares of the financial services provider’s stock valued at $2,833,000 after buying an additional 200 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Northrim BanCorp by 17.2% during the 4th quarter. Russell Investments Group Ltd. now owns 38,568 shares of the financial services provider’s stock valued at $2,206,000 after purchasing an additional 5,650 shares during the last quarter. Hedge funds and other institutional investors 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.