Northrim BanCorp (NASDAQ:NRIM) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Northrim BanCorp, Inc. (NASDAQ:NRIM - Get Free Report) passed 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.

Wall Street Analyst Weigh In

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

Northrim BanCorp Stock Performance

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 firm has a market capitalization of $394.33 million, a PE ratio of 12.23 and a beta of 0.82. The firm's 50-day moving average price is $80.41 and its two-hundred day moving average price is $70.77.

Northrim BanCorp Dividend Announcement

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

Insider Transactions at Northrim BanCorp

In related news, Director Linda C. Thomas sold 2,550 shares of Northrim BanCorp stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $79.00, for a total transaction of $201,450.00. Following the completion of the sale, the director now owns 1,172 shares of the company's stock, valued at approximately $92,588. This trade represents 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 the SEC website. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Northrim BanCorp

Several institutional investors have recently made changes to their positions in NRIM. ClariVest Asset Management LLC bought a new position in Northrim BanCorp during the second quarter valued at approximately $1,141,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Northrim BanCorp during the 3rd quarter valued at $824,000. Elizabeth Park Capital Advisors Ltd. boosted its holdings in Northrim BanCorp by 27.3% in the second quarter. Elizabeth Park Capital Advisors Ltd. now owns 46,316 shares of the financial services provider's stock worth $2,670,000 after purchasing an additional 9,919 shares in the last quarter. State Street Corp increased its position in Northrim BanCorp by 8.0% during the third quarter. State Street Corp now owns 107,568 shares of the financial services provider's stock worth $7,661,000 after buying an additional 8,012 shares during the last quarter. Finally, De Lisle Partners LLP raised its holdings in Northrim BanCorp by 11.6% during the third quarter. De Lisle Partners LLP now owns 77,095 shares of the financial services provider's stock valued at $5,476,000 after buying an additional 8,000 shares in the last quarter. 65.99% of the stock is currently owned by institutional investors and hedge funds.

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.