Northrim BanCorp (NASDAQ:NRIM) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Northrim BanCorp Inc (NASDAQ:NRIM) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $84.10 and traded as high as $95.34. Northrim BanCorp shares last traded at $94.03, with a volume of 45,059 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Northrim BanCorp from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Northrim BanCorp has a consensus rating of “Buy” and a consensus price target of $104.00.

Northrim BanCorp Stock Performance

The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 0.25. The stock has a market cap of $519.05 million, a price-to-earnings ratio of 11.77 and a beta of 0.97. The stock’s fifty day moving average is $91.05 and its 200-day moving average is $84.10.

Northrim BanCorp shares are going to split on Tuesday, September 23rd. The 4-1 split was announced on Friday, August 22nd. The newly minted shares will be issued to shareholders after the market closes on Monday, September 22nd.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.17). The firm had revenue of $50.23 million during the quarter, compared to analyst estimates of $48.80 million. Northrim BanCorp had a net margin of 20.11% and a return on equity of 16.35%. On average, analysts forecast that Northrim BanCorp Inc will post 8.05 EPS for the current year.

Northrim BanCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Thursday, September 4th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, September 4th. Northrim BanCorp’s dividend payout ratio is presently 32.04%.

Institutional Investors Weigh In On Northrim BanCorp

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Northrim BanCorp by 10.8% in the 1st quarter. Vanguard Group Inc. now owns 333,609 shares of the financial services provider’s stock valued at $24,427,000 after buying an additional 32,492 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Northrim BanCorp by 0.7% in the first quarter. The Manufacturers Life Insurance Company now owns 213,237 shares of the financial services provider’s stock valued at $15,613,000 after purchasing an additional 1,448 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Northrim BanCorp by 9.6% in the second quarter. American Century Companies Inc. now owns 149,858 shares of the financial services provider’s stock worth $13,976,000 after purchasing an additional 13,160 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Northrim BanCorp by 3.6% during the second quarter. Geode Capital Management LLC now owns 133,801 shares of the financial services provider’s stock worth $12,481,000 after purchasing an additional 4,689 shares during the last quarter. Finally, De Lisle Partners LLP lifted its position in Northrim BanCorp by 3.0% during the 2nd quarter. De Lisle Partners LLP now owns 97,853 shares of the financial services provider’s stock worth $9,136,000 after buying an additional 2,870 shares in the last quarter. 65.99% of the stock is owned by institutional investors.

About Northrim BanCorp

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.