Northrim BanCorp (NASDAQ:NRIM) Shares Cross Above 200 Day Moving Average – Should You Sell?

Northrim BanCorp Inc (NASDAQ:NRIM)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $25.16 and traded as high as $28.03. Northrim BanCorp shares last traded at $27.55, with a volume of 147,177 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NRIM. Keefe, Bruyette & Woods began coverage on shares of Northrim BanCorp in a research note on Wednesday, July 1st. They set a “market perform” rating and a $30.00 price objective for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Northrim BanCorp in a report on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Northrim BanCorp Trading Down 0.2%

The company has a market cap of $602.75 million, a P/E ratio of 9.40 and a beta of 0.86. The business’s 50-day moving average price is $25.96 and its 200 day moving average price is $25.16. 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 issued its earnings results on Wednesday, July 22nd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. The business had revenue of $52.63 million during the quarter, compared to the consensus estimate of $51.80 million. Northrim BanCorp had a net margin of 24.91% and a return on equity of 16.99%. As a group, analysts expect that Northrim BanCorp Inc will post 2.53 earnings per share for the current year.

Northrim BanCorp Dividend Announcement

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

Institutional Trading of Northrim BanCorp

Hedge funds have recently modified their holdings of the stock. Western Wealth Management LLC acquired a new position in Northrim BanCorp in the 1st quarter valued at about $27,000. Bank of America Corp DE boosted its holdings in shares of Northrim BanCorp by 13.3% during the first quarter. Bank of America Corp DE now owns 52,264 shares of the financial services provider’s stock worth $1,196,000 after acquiring an additional 6,131 shares during the period. Empowered Funds LLC acquired a new position in shares of Northrim BanCorp in the first quarter valued at approximately $1,397,000. Quantinno Capital Management LP increased its stake in shares of Northrim BanCorp by 57.0% during the first quarter. Quantinno Capital Management LP now owns 36,228 shares of the financial services provider’s stock worth $829,000 after purchasing an additional 13,156 shares during the period. Finally, Waverly Advisors LLC increased its stake in shares of Northrim BanCorp by 4.7% during the first quarter. Waverly Advisors LLC now owns 210,448 shares of the financial services provider’s stock worth $4,815,000 after purchasing an additional 9,420 shares during the period. 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.