Northrim BanCorp (NASDAQ:NRIM) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Northrim BanCorp Inc (NASDAQ:NRIM)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $25.06 and traded as high as $26.83. Northrim BanCorp shares last traded at $26.68, with a volume of 188,568 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Northrim BanCorp in a research note on Tuesday, June 16th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.00.

Northrim BanCorp Stock Up 2.3%

The firm has a market capitalization of $593.63 million, a P/E ratio of 9.26 and a beta of 0.88. The firm’s 50-day moving average is $24.69 and its 200 day moving average is $25.06. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.91 and a current ratio of 0.93.

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

Northrim BanCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 11th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, June 11th. Northrim BanCorp’s dividend payout ratio is currently 22.22%.

Institutional Investors Weigh In On Northrim BanCorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Northrim BanCorp by 326.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,639,351 shares of the financial services provider’s stock valued at $35,508,000 after buying an additional 1,254,870 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in 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 acquiring an additional 960,299 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Northrim BanCorp by 18.5% during the 4th quarter. Geode Capital Management LLC now owns 727,180 shares of the financial services provider’s stock worth $19,353,000 after acquiring an additional 113,293 shares in the last quarter. American Century Companies Inc. grew its stake 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 acquiring an additional 516,030 shares in the last quarter. Finally, De Lisle Partners LLP raised its holdings in shares of Northrim BanCorp by 3.9% in the fourth quarter. De Lisle Partners LLP now owns 460,708 shares of the financial services provider’s stock valued at $12,268,000 after purchasing an additional 17,296 shares during the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.

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.