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

Northrim BanCorp Inc (NASDAQ:NRIM) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $25.03 and traded as high as $25.63. Northrim BanCorp shares last traded at $25.27, with a volume of 107,462 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Northrim BanCorp in a report on Tuesday. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Northrim BanCorp Trading Up 0.8%

The firm’s 50 day moving average is $24.60 and its 200 day moving average is $25.04. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.91. The company has a market capitalization of $560.92 million, a PE ratio of 8.75 and a beta of 0.88.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.08. Northrim BanCorp had a net margin of 24.91% and a return on equity of 16.99%. The business had revenue of $49.46 million during the quarter, compared to analysts’ expectations of $50.60 million. As a group, equities analysts predict that Northrim BanCorp Inc will post 2.6 EPS for the current year.

Northrim BanCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 11th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Thursday, June 11th. Northrim BanCorp’s dividend payout ratio is currently 22.22%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada raised its position in Northrim BanCorp by 21.5% during the 1st quarter. Royal Bank of Canada now owns 39,505 shares of the financial services provider’s stock valued at $2,892,000 after purchasing an additional 6,990 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Northrim BanCorp in the 1st quarter worth approximately $210,000. AQR Capital Management LLC grew its position in shares of Northrim BanCorp by 171.3% in the 1st quarter. AQR Capital Management LLC now owns 13,352 shares of the financial services provider’s stock worth $978,000 after buying an additional 8,431 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Northrim BanCorp by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,182 shares of the financial services provider’s stock valued at $233,000 after buying an additional 156 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Northrim BanCorp by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 28,470 shares of the financial services provider’s stock valued at $2,085,000 after buying an additional 6,599 shares during the period. Hedge funds and other institutional investors own 65.99% of the company’s stock.

Northrim BanCorp Company Profile

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.