Northrim BanCorp (NASDAQ:NRIM) Hits New 1-Year High – Here’s Why

Northrim BanCorp, Inc. (NASDAQ:NRIM)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $91.72 and last traded at $91.02, with a volume of 10338 shares trading hands. The stock had previously closed at $88.50.

Northrim BanCorp Stock Performance

The company has a market cap of $484.62 million, a P/E ratio of 15.03 and a beta of 0.73. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The stock’s 50-day moving average price is $71.82 and its 200 day moving average price is $64.50.

Insider Buying and Selling at Northrim BanCorp

In other Northrim BanCorp news, Director Linda C. Thomas sold 2,550 shares of Northrim BanCorp stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $79.00, for a total transaction of $201,450.00. Following the sale, the director now owns 1,172 shares in the company, valued at $92,588. The trade was a 68.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Northrim BanCorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Northrim BanCorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 292,798 shares of the financial services provider’s stock valued at $14,789,000 after buying an additional 1,795 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Northrim BanCorp by 1.7% during the third quarter. Geode Capital Management LLC now owns 126,898 shares of the financial services provider’s stock valued at $9,040,000 after acquiring an additional 2,133 shares during the period. State Street Corp boosted its stake in shares of Northrim BanCorp by 8.0% in the 3rd quarter. State Street Corp now owns 107,568 shares of the financial services provider’s stock valued at $7,661,000 after purchasing an additional 8,012 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Northrim BanCorp by 7.3% in the 2nd quarter. American Century Companies Inc. now owns 84,730 shares of the financial services provider’s stock worth $4,884,000 after purchasing an additional 5,794 shares during the last quarter. Finally, De Lisle Partners LLP grew its holdings in shares of Northrim BanCorp by 11.6% in the 3rd quarter. De Lisle Partners LLP now owns 77,095 shares of the financial services provider’s stock worth $5,476,000 after purchasing an additional 8,000 shares during the last quarter. 65.99% of the stock is owned by institutional investors.

Northrim BanCorp Company Profile

Northrim BanCorp, Inc operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals. It operates through two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, individual retirement and money market deposit accounts, certificates of deposit, and business sweep accounts.