Northrim BanCorp (NASDAQ:NRIM) Share Price Passes Above 200-Day Moving Average of $53.82

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 $53.82 and traded as high as $65.00. Northrim BanCorp shares last traded at $64.27, with a volume of 4,972 shares traded.

Analysts Set New Price Targets

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

Northrim BanCorp Stock Down 1.1 %

The firm has a 50-day moving average price of $61.58 and a two-hundred day moving average price of $54.08. The company has a market capitalization of $353.65 million, a price-to-earnings ratio of 12.53 and a beta of 0.73. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.79.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.31. Northrim BanCorp had a net margin of 18.41% and a return on equity of 13.82%. The company had revenue of $46.49 million during the quarter, compared to analysts’ expectations of $35.00 million. As a group, sell-side analysts anticipate that Northrim BanCorp, Inc. will post 5.57 earnings per share for the current fiscal year.

Northrim BanCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Thursday, June 6th were paid a $0.61 dividend. The ex-dividend date was Thursday, June 6th. This represents a $2.44 annualized dividend and a yield of 3.79%. Northrim BanCorp’s payout ratio is currently 47.56%.

Insiders Place Their Bets

In related news, Director David J. Mccambridge bought 550 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average price of $53.93 per share, with a total value of $29,661.50. Following the completion of the transaction, 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 is accessible through this link. In other news, Director David J. Mccambridge acquired 550 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was bought at an average price of $53.93 per share, with a total value of $29,661.50. Following the transaction, the director now directly owns 10,112 shares in the company, valued at approximately $545,340.16. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Marushack bought 493 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average cost of $60.22 per share, for a total transaction of $29,688.46. Following the completion of the acquisition, the director now owns 2,768 shares in the company, valued at approximately $166,688.96. The disclosure for this purchase can be found here. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NRIM. Teton Advisors Inc. acquired a new stake in shares of Northrim BanCorp during the 4th quarter worth about $240,000. BNP Paribas Financial Markets increased its stake in shares of Northrim BanCorp by 30.0% during the fourth quarter. BNP Paribas Financial Markets now owns 6,143 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 1,417 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Northrim BanCorp by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 468,780 shares of the financial services provider’s stock worth $26,819,000 after purchasing an additional 3,053 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in 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. Finally, Los Angeles Capital Management LLC boosted its stake in Northrim BanCorp by 34.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 8,300 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 2,140 shares during the period. 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.