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

Northrim BanCorp, Inc. (NASDAQ:NRIM)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $70.75 and traded as high as $75.23. Northrim BanCorp shares last traded at $73.73, with a volume of 57,951 shares traded.

Analyst Ratings Changes

Separately, Hovde Group assumed coverage on shares of Northrim BanCorp in a report on Friday, December 20th. They set an “outperform” rating and a $96.50 target price on the stock.

Northrim BanCorp Stock Performance

The stock has a 50 day moving average of $80.41 and a 200 day moving average of $70.77. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $394.33 million, a price-to-earnings ratio of 12.23 and a beta of 0.82.

Northrim BanCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 19th were issued a $0.62 dividend. The ex-dividend date was Thursday, December 19th. This represents a $2.48 annualized dividend and a dividend yield of 3.46%. Northrim BanCorp’s dividend payout ratio is currently 42.32%.

Insider Activity at Northrim BanCorp

In other Northrim BanCorp news, Director Linda C. Thomas sold 2,550 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $79.00, for a total value of $201,450.00. Following the transaction, the director now owns 1,172 shares of the company’s stock, valued at approximately $92,588. The trade was a 68.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NRIM. Rhumbline Advisers raised its holdings in shares of 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 purchasing an additional 169 shares during the period. FMR LLC lifted its position in shares of Northrim BanCorp by 13.1% during the 3rd quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock valued at $123,000 after buying an additional 201 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 worth $1,117,000 after acquiring an additional 457 shares during the period. Sei Investments Co. increased its holdings in Northrim BanCorp by 15.0% in the 2nd quarter. Sei Investments Co. now owns 4,598 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 600 shares during the last quarter. Finally, Martingale Asset Management L P raised its stake in Northrim BanCorp by 13.8% in the 3rd quarter. Martingale Asset Management L P now owns 6,967 shares of the financial services provider’s stock valued at $496,000 after acquiring an additional 846 shares during the period. 65.99% of the stock is currently owned by hedge funds and other 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.