Northrim BanCorp (NASDAQ:NRIM) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

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

Northrim BanCorp Stock Performance

The company has a current ratio of 0.85, a quick ratio of 0.81 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. The stock has a 50-day simple moving average of $80.41 and a 200-day simple moving average of $70.77.

Northrim BanCorp Dividend Announcement

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

Insider Buying and Selling at Northrim BanCorp

In other Northrim BanCorp news, Director Linda C. Thomas sold 2,550 shares of Northrim BanCorp stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 1,172 shares in the company, valued at $92,588. The trade was a 68.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.10% of the stock is currently 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 the stock. JPMorgan Chase & Co. boosted its position in Northrim BanCorp by 150.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,679 shares of the financial services provider's stock worth $404,000 after acquiring an additional 3,411 shares during the period. Barclays PLC increased its stake in Northrim BanCorp by 32.5% during the 3rd quarter. Barclays PLC now owns 20,689 shares of the financial services provider's stock valued at $1,474,000 after buying an additional 5,079 shares during the period. Geode Capital Management LLC increased its stake in Northrim BanCorp by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 126,898 shares of the financial services provider's stock valued at $9,040,000 after buying an additional 2,133 shares during the period. Zacks Investment Management raised its position in shares of Northrim BanCorp by 8.7% during the 3rd quarter. Zacks Investment Management now owns 44,208 shares of the financial services provider's stock worth $3,148,000 after buying an additional 3,550 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Northrim BanCorp by 8.0% in the 3rd quarter. State Street Corp now owns 107,568 shares of the financial services provider's stock worth $7,661,000 after acquiring an additional 8,012 shares during the period. Institutional investors and hedge funds 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.