Northrim BanCorp (NASDAQ:NRIM) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Northrim BanCorp Inc (NASDAQ:NRIM) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $25.03 and traded as high as $25.63. Northrim BanCorp shares last traded at $25.27, with a volume of 107,462 shares changing hands.

Northrim BanCorp Stock Performance

The firm has a market cap of $562.26 million, a price-to-earnings ratio of 8.77 and a beta of 0.88. The stock’s 50 day moving average is $24.55 and its 200 day moving average is $25.03. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.24.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. Northrim BanCorp had a net margin of 24.91% and a return on equity of 16.99%. The business had revenue of $49.46 million for the quarter, compared to analyst estimates of $50.60 million. Analysts anticipate that Northrim BanCorp Inc will post 2.6 earnings per share for the current year.

Northrim BanCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 11th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Thursday, June 11th. Northrim BanCorp’s dividend payout ratio is presently 22.22%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NRIM. Vanguard Group Inc. grew its position in shares of Northrim BanCorp by 326.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,639,351 shares of the financial services provider’s stock worth $35,508,000 after purchasing an additional 1,254,870 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Northrim BanCorp by 248.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,346,512 shares of the financial services provider’s stock worth $29,166,000 after purchasing an additional 960,299 shares in the last quarter. American Century Companies Inc. grew its position in shares of Northrim BanCorp by 344.3% during the 3rd quarter. American Century Companies Inc. now owns 665,888 shares of the financial services provider’s stock worth $14,423,000 after purchasing an additional 516,030 shares in the last quarter. Punch & Associates Investment Management Inc. grew its position in shares of Northrim BanCorp by 1,148.3% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 247,496 shares of the financial services provider’s stock worth $5,361,000 after purchasing an additional 227,669 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Northrim BanCorp by 239.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 302,192 shares of the financial services provider’s stock worth $6,545,000 after purchasing an additional 213,238 shares in the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.

Northrim BanCorp Company Profile

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.