Northrim BanCorp (NASDAQ:NRIM) Stock Passes Above 200-Day Moving Average – Should You Sell?

Northrim BanCorp Inc (NASDAQ:NRIM) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.30 and traded as high as $24.79. Northrim BanCorp shares last traded at $24.73, with a volume of 121,627 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NRIM shares. Wall Street Zen cut shares of Northrim BanCorp from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Weiss Ratings restated a “buy (b)” rating on shares of Northrim BanCorp in a research report on Wednesday, December 24th. Finally, Zacks Research cut shares of Northrim BanCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Northrim BanCorp Stock Performance

The company has a market capitalization of $543.84 million, a price-to-earnings ratio of 8.57 and a beta of 0.91. The firm has a fifty day simple moving average of $23.97 and a 200 day simple moving average of $24.32. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.93 and a quick ratio of 0.90.

Northrim BanCorp (NASDAQ:NRIM) last announced its earnings results on Friday, January 23rd. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.10). Northrim BanCorp had a return on equity of 17.66% and a net margin of 25.17%.The business had revenue of $51.66 million for the quarter, compared to analyst estimates of $52.70 million. On average, analysts anticipate that Northrim BanCorp Inc will post 8.05 earnings per share for the current fiscal year.

Northrim BanCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Thursday, March 5th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, March 5th. Northrim BanCorp’s dividend payout ratio (DPR) is presently 22.30%.

Insider Activity

In related news, CEO Michael G. Huston bought 1,500 shares of the company’s stock in a transaction dated Thursday, January 29th. The shares were acquired at an average price of $22.80 per share, for a total transaction of $34,200.00. Following the completion of the transaction, the chief executive officer directly owned 83,252 shares in the company, valued at $1,898,145.60. This trade represents a 1.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have bought a total of 2,790 shares of company stock valued at $64,179 in the last quarter. 3.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Northrim BanCorp by 326.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,639,351 shares of the financial services provider’s stock worth $35,508,000 after buying an additional 1,254,870 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Northrim BanCorp by 248.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,346,512 shares of the financial services provider’s stock valued at $29,166,000 after acquiring an additional 960,299 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Northrim BanCorp by 344.3% in the third quarter. American Century Companies Inc. now owns 665,888 shares of the financial services provider’s stock valued at $14,423,000 after acquiring an additional 516,030 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its stake in shares of Northrim BanCorp by 1,148.3% in the third quarter. Punch & Associates Investment Management Inc. now owns 247,496 shares of the financial services provider’s stock worth $5,361,000 after acquiring an additional 227,669 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Northrim BanCorp by 239.7% in the third quarter. Ameriprise Financial Inc. now owns 302,192 shares of the financial services provider’s stock worth $6,545,000 after acquiring an additional 213,238 shares during the last quarter. 65.99% of the stock is owned by hedge funds and other institutional investors.

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.