Northrim BanCorp (NASDAQ:NRIM) Shares Pass Above 200 Day Moving Average – Should You Sell?

Northrim BanCorp Inc (NASDAQ:NRIM) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.84 and traded as high as $25.00. Northrim BanCorp shares last traded at $24.64, with a volume of 114,185 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Northrim BanCorp from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Northrim BanCorp Stock Performance

The company has a 50-day simple moving average of $23.85 and a two-hundred day simple moving average of $24.84. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.91 and a current ratio of 0.93. The firm has a market capitalization of $548.24 million, a P/E ratio of 8.55 and a beta of 0.90.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.08. The business had revenue of $48.30 million for the quarter, compared to analysts’ expectations of $50.60 million. Northrim BanCorp had a return on equity of 16.99% and a net margin of 24.91%. As a group, equities analysts forecast that Northrim BanCorp Inc will post 2.6 EPS for the current year.

Institutional Trading of Northrim BanCorp

Several large investors have recently bought and sold shares of NRIM. Financial Management Professionals Inc. purchased a new position in shares of Northrim BanCorp during the fourth quarter valued at approximately $27,000. Western Wealth Management LLC purchased a new position in shares of Northrim BanCorp during the first quarter valued at approximately $27,000. Federated Hermes Inc. lifted its holdings in shares of Northrim BanCorp by 300.0% during the third quarter. Federated Hermes Inc. now owns 1,452 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 1,089 shares during the last quarter. Quarry LP lifted its holdings in shares of Northrim BanCorp by 47.7% during the fourth quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 412 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Northrim BanCorp by 298.0% during the third quarter. CANADA LIFE ASSURANCE Co now owns 1,568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,174 shares during the last quarter. 65.99% of the stock is owned by institutional investors.

About Northrim BanCorp

Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.

With branches located across Alaska’s major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.