Northrim BanCorp (NASDAQ:NRIM) Stock Passes Above 200 Day Moving Average of $51.71

Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $51.71 and traded as high as $56.00. Northrim BanCorp shares last traded at $55.52, with a volume of 20,853 shares.

Wall Street Analyst Weigh In

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

Northrim BanCorp Price Performance

The company has a quick ratio of 0.79, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $305.36 million, a P/E ratio of 10.82 and a beta of 0.74. The company’s 50-day simple moving average is $52.62 and its 200 day simple moving average is $51.71.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.43. The business had revenue of $34.29 million during the quarter, compared to the consensus estimate of $32.40 million. Northrim BanCorp had a net margin of 17.19% and a return on equity of 12.50%. As a group, sell-side analysts expect that Northrim BanCorp, Inc. will post 5.61 earnings per share for the current fiscal year.

Northrim BanCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Thursday, June 6th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend was Thursday, June 6th. Northrim BanCorp’s dividend payout ratio is currently 47.56%.

Insider Buying and Selling

In other news, Director David J. Mccambridge acquired 550 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average cost of $53.93 per share, with a total value of $29,661.50. Following the acquisition, the director now owns 10,112 shares in the company, valued at $545,340.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is owned by insiders.

Institutional Trading of Northrim BanCorp

Hedge funds have recently bought and sold shares of the stock. Principal Securities Inc. bought a new stake in Northrim BanCorp in the 4th quarter valued at $28,000. Tower Research Capital LLC TRC boosted its holdings in Northrim BanCorp by 161.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 873 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 539 shares during the period. SG Americas Securities LLC bought a new stake in Northrim BanCorp in the 4th quarter valued at $170,000. Teton Advisors Inc. bought a new stake in Northrim BanCorp in the 4th quarter valued at $240,000. Finally, SeaCrest Wealth Management LLC bought a new stake in Northrim BanCorp in the 4th quarter valued at $247,000. 65.99% of the stock is owned by institutional investors.

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.