Northrim BanCorp (NASDAQ:NRIM) Stock Crosses 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 $23.00 and traded as high as $27.80. Northrim BanCorp shares last traded at $27.70, with a volume of 185,653 shares trading hands.

Analyst Ratings Changes

NRIM has been the subject of a number of research reports. Hovde Group boosted their price target on shares of Northrim BanCorp from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Wall Street Zen raised shares of Northrim BanCorp from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Northrim BanCorp in a research note on Wednesday. Finally, Zacks Research upgraded Northrim BanCorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $33.00.

Northrim BanCorp Stock Performance

The company has a market cap of $609.35 million, a P/E ratio of 9.83 and a beta of 0.98. The company’s fifty day moving average is $24.05 and its 200 day moving average is $23.03. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 0.07.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.10. Northrim BanCorp had a net margin of 25.32% and a return on equity of 18.12%. The business had revenue of $66.59 million during the quarter, compared to analyst estimates of $50.60 million. As a group, equities analysts predict that Northrim BanCorp Inc will post 8.05 earnings per share for the current fiscal year.

Northrim BanCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Thursday, December 18th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, December 18th. This represents a $0.64 annualized dividend and a yield of 2.3%. Northrim BanCorp’s dividend payout ratio is currently 22.78%.

Insider Buying and Selling

In other news, Director Shauna Hegna bought 1,186 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were bought at an average cost of $25.25 per share, with a total value of $29,946.50. Following the completion of the purchase, the director directly owned 1,638 shares in the company, valued at $41,359.50. This represents a 262.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director David J. Mccambridge purchased 1,150 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were purchased at an average price of $24.87 per share, with a total value of $28,600.50. Following the completion of the acquisition, the director directly owned 41,598 shares in the company, valued at $1,034,542.26. The trade was a 2.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Northrim BanCorp

A number of large investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. raised its stake in shares of Northrim BanCorp by 0.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 22,618 shares of the financial services provider’s stock valued at $1,656,000 after acquiring an additional 116 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Northrim BanCorp by 34.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 538 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 138 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Northrim BanCorp by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,182 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 156 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in Northrim BanCorp by 159.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 486 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 299 shares during the last quarter. Finally, Creative Planning lifted its holdings in Northrim BanCorp by 11.2% in the 2nd quarter. Creative Planning now owns 3,096 shares of the financial services provider’s stock worth $289,000 after buying an additional 313 shares during the period. Institutional investors 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.