Northrim BanCorp (NASDAQ:NRIM) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Northrim BanCorp, Inc. (NASDAQ:NRIM) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $61.27 and traded as high as $65.12. Northrim BanCorp shares last traded at $64.07, with a volume of 11,111 shares traded.

Northrim BanCorp Trading Down 1.5 %

The stock has a market capitalization of $352.51 million, a P/E ratio of 10.93 and a beta of 0.73. The stock has a 50-day moving average price of $68.37 and a two-hundred day moving average price of $61.27. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.79 and a current ratio of 0.85.

Northrim BanCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, September 5th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Thursday, September 5th. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.61. Northrim BanCorp’s dividend payout ratio is 42.32%.

Insider Buying and Selling at Northrim BanCorp

In other news, Director Joseph Marushack purchased 493 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $60.22 per share, for a total transaction of $29,688.46. Following the purchase, the director now directly owns 2,768 shares in the company, valued at approximately $166,688.96. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Northrim BanCorp

A number of institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its position in shares of Northrim BanCorp by 48.6% during the first quarter. BNP Paribas Financial Markets now owns 9,129 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 2,986 shares in the last quarter. Empowered Funds LLC lifted its position in Northrim BanCorp by 8.1% during the 1st quarter. Empowered Funds LLC now owns 18,499 shares of the financial services provider’s stock worth $934,000 after acquiring an additional 1,390 shares during the period. Vanguard Group Inc. boosted its stake in shares of Northrim BanCorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 292,798 shares of the financial services provider’s stock worth $14,789,000 after buying an additional 1,795 shares during the last quarter. Huber Capital Management LLC grew its position in shares of 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 acquiring an additional 200 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Northrim BanCorp by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 47,275 shares of the financial services provider’s stock valued at $2,725,000 after buying an additional 1,149 shares in the last quarter. 65.99% of the stock is owned by 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.