Northrim BanCorp (NASDAQ:NRIM) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Northrim BanCorp, Inc. (NASDAQ:NRIM)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 trading hands.

Northrim BanCorp Trading Up 3.3 %

The stock has a market capitalization of $435.54 million, a PE ratio of 13.51 and a beta of 0.73. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The business’s 50-day moving average is $69.13 and its two-hundred day moving average is $62.59.

Northrim BanCorp Increases Dividend

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

Hedge Funds Weigh In On Northrim BanCorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its holdings in Northrim BanCorp by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 6,703 shares of the financial services provider’s stock worth $386,000 after buying an additional 169 shares in the last quarter. Huber Capital Management LLC boosted its holdings in Northrim BanCorp by 0.4% in the first quarter. Huber Capital Management LLC now owns 56,079 shares of the financial services provider’s stock valued at $2,833,000 after purchasing an additional 200 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Northrim BanCorp by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,677 shares of the financial services provider’s stock valued at $1,117,000 after purchasing an additional 457 shares in the last quarter. Sei Investments Co. grew its stake in Northrim BanCorp by 15.0% during 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. Finally, Empowered Funds LLC increased its holdings in Northrim BanCorp by 4.7% during the 3rd quarter. Empowered Funds LLC now owns 20,697 shares of the financial services provider’s stock worth $1,474,000 after purchasing an additional 938 shares during the last quarter. 65.99% of the stock is owned by institutional investors and hedge funds.

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.