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

Northrim BanCorp, Inc. (NASDAQ:NRIM)’s stock price crossed 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 changing hands.

Wall Street Analyst Weigh In

Separately, Hovde Group began coverage on shares of Northrim BanCorp in a research report on Friday, December 20th. They issued an “outperform” rating and a $96.50 price target for the company.

Northrim BanCorp Stock Down 2.8 %

The firm has a market capitalization of $394.33 million, a PE ratio of 12.23 and a beta of 0.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.81. The company has a 50-day moving average price of $80.41 and a 200 day moving average price of $70.77.

Northrim BanCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 19th were issued a $0.62 dividend. The ex-dividend date of this dividend 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 is presently 42.32%.

Insider Buying and Selling at Northrim BanCorp

In related 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 value of $201,450.00. Following the sale, the director now directly owns 1,172 shares in the company, valued at approximately $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 accessible through this hyperlink. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Northrim BanCorp

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Northrim BanCorp by 13.1% during the 3rd quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 201 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Northrim BanCorp in the 3rd quarter worth $142,000. Fulton Bank N.A. purchased a new stake in shares of Northrim BanCorp during the 3rd quarter valued at about $214,000. Ritholtz Wealth Management bought a new position in shares of Northrim BanCorp in the 3rd quarter valued at about $226,000. Finally, Sei Investments Co. grew its position in Northrim BanCorp by 15.0% in the second quarter. Sei Investments Co. now owns 4,598 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other 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.