Northrim BanCorp (NASDAQ:NRIM) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Northrim BanCorp Inc (NASDAQ:NRIM)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $25.16 and traded as high as $28.03. Northrim BanCorp shares last traded at $27.55, with a volume of 147,177 shares changing hands.

Wall Street Analysts Forecast Growth

NRIM has been the topic of several research analyst reports. Keefe, Bruyette & Woods began coverage on shares of Northrim BanCorp in a research report on Wednesday, July 1st. They set a “market perform” rating and a $30.00 target price on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Northrim BanCorp in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Northrim BanCorp has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Northrim BanCorp Trading Down 1.3%

The stock has a 50-day simple moving average of $25.88 and a 200 day simple moving average of $25.16. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.24. The company has a market cap of $612.99 million, a price-to-earnings ratio of 9.56 and a beta of 0.86.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results 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 $49.46 million for the quarter, compared to the consensus estimate 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 research analysts predict that Northrim BanCorp Inc will post 2.53 EPS for the current fiscal year.

Northrim BanCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 11th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.3%. Northrim BanCorp’s payout ratio is 22.22%.

Institutional Investors Weigh In On Northrim BanCorp

A number of large investors have recently bought and sold shares of NRIM. Tower Research Capital LLC TRC raised its position in Northrim BanCorp by 34.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 538 shares of the financial services provider’s stock worth $50,000 after buying an additional 138 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Northrim BanCorp in the 4th quarter valued at $27,000. Western Wealth Management LLC purchased a new stake in shares of Northrim BanCorp in the 1st quarter valued at $27,000. Quarry LP boosted its holdings in shares of Northrim BanCorp by 47.7% in the 4th quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 412 shares during the last quarter. Finally, Clearstead Advisors LLC increased its stake in shares of Northrim BanCorp by 192.4% in the fourth quarter. Clearstead Advisors LLC now owns 1,509 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 993 shares during the period. Hedge funds and other institutional investors 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.