Northrim BanCorp (NASDAQ:NRIM) Stock Price Passes Above 200-Day Moving Average of $55.39

Northrim BanCorp, Inc. (NASDAQ:NRIM)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $55.39 and traded as high as $65.86. Northrim BanCorp shares last traded at $65.31, with a volume of 14,147 shares.

Wall Street Analysts Forecast Growth

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

Northrim BanCorp Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.79 and a current ratio of 0.83. The business’s fifty day simple moving average is $64.21 and its 200-day simple moving average is $55.49. The firm has a market capitalization of $359.43 million, a PE ratio of 12.74 and a beta of 0.71.

Northrim BanCorp (NASDAQ:NRIM) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.31. The firm had revenue of $46.49 million during the quarter, compared to the consensus estimate of $35.00 million. Northrim BanCorp had a return on equity of 13.61% and a net margin of 18.41%. As a group, equities research analysts expect that Northrim BanCorp, Inc. will post 5.83 EPS for the current year.

Northrim BanCorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.79%. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.61. The ex-dividend date is Thursday, September 5th. Northrim BanCorp’s dividend payout ratio (DPR) is 48.34%.

Insider Transactions at Northrim BanCorp

In other news, Director Joseph Marushack purchased 493 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $60.22 per share, for a total transaction of $29,688.46. Following the completion of the purchase, the director now owns 2,768 shares in the company, valued at approximately $166,688.96. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Northrim BanCorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its holdings in shares of Northrim BanCorp by 30.0% in the 4th quarter. BNP Paribas Financial Markets now owns 6,143 shares of the financial services provider’s stock valued at $351,000 after buying an additional 1,417 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Northrim BanCorp by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 468,780 shares of the financial services provider’s stock valued at $26,819,000 after purchasing an additional 3,053 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Northrim BanCorp by 17.2% in 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 period. Los Angeles Capital Management LLC raised its position in Northrim BanCorp by 34.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 8,300 shares of the financial services provider’s stock worth $475,000 after acquiring an additional 2,140 shares during the period. Finally, Empowered Funds LLC raised its position in Northrim BanCorp by 8.1% during the first 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. 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.