Northrim BanCorp (NASDAQ:NRIM) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $70.75 and traded as high as $75.23. Northrim BanCorp shares last traded at $73.73, with a volume of 57,951 shares trading hands.

Analyst Ratings Changes

Separately, Hovde Group started coverage on Northrim BanCorp in a research note on Friday, December 20th. They set an “outperform” rating and a $96.50 target price on the stock.

Northrim BanCorp Trading Down 2.8 %

The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.85. The firm has a market cap of $394.33 million, a PE ratio of 12.23 and a beta of 0.82. The stock has a 50-day simple moving average of $80.41 and a two-hundred day simple moving average of $70.77.

Northrim BanCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 19th were given a dividend of $0.62 per share. The ex-dividend date was Thursday, December 19th. This represents a $2.48 dividend on an annualized basis and a yield of 3.46%. Northrim BanCorp’s dividend payout ratio (DPR) is 42.32%.

Insider Buying and Selling

In other Northrim BanCorp news, Director Linda C. Thomas sold 2,550 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $79.00, for a total transaction of $201,450.00. Following the completion of the sale, the director now directly owns 1,172 shares in the company, valued at $92,588. The trade was a 68.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northrim BanCorp

Institutional investors have recently made changes to their positions in the business. FMR LLC grew its position in Northrim BanCorp by 13.1% during the third quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock valued at $123,000 after buying an additional 201 shares during the period. SG Americas Securities LLC bought a new stake in shares of Northrim BanCorp during the 3rd quarter valued at $142,000. Fulton Bank N.A. purchased a new stake in shares of Northrim BanCorp in the 3rd quarter worth $214,000. Ritholtz Wealth Management purchased a new position in Northrim BanCorp during the third quarter valued at $226,000. Finally, Sei Investments Co. grew its holdings in Northrim BanCorp by 15.0% during the second quarter. Sei Investments Co. now owns 4,598 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 600 shares during the period. Institutional investors own 65.99% of the company’s stock.

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.