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

Shares of Northrim BanCorp, Inc. (NASDAQ:NRIM) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $75.74 and traded as high as $81.75. Northrim BanCorp shares last traded at $80.58, with a volume of 19,268 shares.

Wall Street Analyst Weigh In

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

Northrim BanCorp Price Performance

The firm’s 50 day moving average price is $80.90 and its two-hundred day moving average price is $75.74. 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 stock has a market cap of $450.56 million, a PE ratio of 12.37 and a beta of 0.83.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings data on Friday, January 24th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.72. Northrim BanCorp had a return on equity of 14.86% and a net margin of 18.87%. On average, research analysts expect that Northrim BanCorp, Inc. will post 8.05 earnings per share for the current year.

Northrim BanCorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.64 per share. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $2.56 dividend on an annualized basis and a yield of 3.13%. Northrim BanCorp’s dividend payout ratio (DPR) is presently 38.67%.

Insiders Place Their Bets

In other news, CEO Michael G. Huston sold 453 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $89.18, for a total transaction of $40,398.54. Following the completion of the transaction, the chief executive officer now directly owns 23,759 shares of the company’s stock, valued at approximately $2,118,827.62. This represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its stake in shares of Northrim BanCorp by 57.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 366 shares of the financial services provider’s stock valued at $29,000 after buying an additional 133 shares during the period. DecisionPoint Financial LLC purchased a new stake in shares of Northrim BanCorp in the 4th quarter worth about $39,000. Quantbot Technologies LP purchased a new position in shares of Northrim BanCorp during the fourth quarter valued at about $112,000. FMR LLC raised its stake in Northrim BanCorp by 13.1% in the third quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock worth $123,000 after buying an additional 201 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Northrim BanCorp by 25.8% in the fourth quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider’s stock worth $195,000 after buying an additional 513 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.