Northrim BanCorp (NASDAQ:NRIM) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Northrim BanCorp Inc (NASDAQ:NRIM)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $24.98 and traded as high as $25.31. Northrim BanCorp shares last traded at $24.81, with a volume of 68,083 shares changing hands.

Northrim BanCorp Trading Up 0.0%

The stock has a 50-day moving average price of $24.28 and a two-hundred day moving average price of $24.98. The stock has a market cap of $552.02 million, a PE ratio of 8.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.91.

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

Northrim BanCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 11th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $0.64 dividend on an annualized basis and a yield of 2.6%. Northrim BanCorp’s dividend payout ratio is presently 22.22%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NRIM. Financial Management Professionals Inc. bought a new position in shares of Northrim BanCorp in the 4th quarter valued at about $27,000. Western Wealth Management LLC purchased a new stake in Northrim BanCorp during the first quarter valued at approximately $27,000. Federated Hermes Inc. raised its position in 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 period. Quarry LP raised its position in 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 period. Finally, CANADA LIFE ASSURANCE Co raised its position in 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 period. 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.