Northrim BanCorp (NASDAQ:NRIM) Hits New 1-Year High - Time to Buy?

Northrim BanCorp, Inc. (NASDAQ:NRIM - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $91.79 and last traded at $91.76, with a volume of 273723 shares changing hands. The stock had previously closed at $90.25.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NRIM shares. Hovde Group increased their price objective on Northrim BanCorp from $99.00 to $104.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Wall Street Zen downgraded Northrim BanCorp from a "buy" rating to a "hold" rating in a report on Friday.

Northrim BanCorp Trading Up 1.1%

The business's 50 day moving average price is $79.49 and its 200-day moving average price is $80.31. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The company has a market cap of $503.46 million, a price-to-earnings ratio of 13.77 and a beta of 0.93.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.56 by $0.82. The company had revenue of $45.50 million during the quarter, compared to analysts' expectations of $44.10 million. Northrim BanCorp had a net margin of 18.87% and a return on equity of 14.86%. On average, equities analysts anticipate that Northrim BanCorp, Inc. will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, June 5th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, June 5th. Northrim BanCorp's dividend payout ratio (DPR) is 34.04%.

Institutional Trading of Northrim BanCorp

Several hedge funds and other institutional investors have recently bought and sold shares of NRIM. SG Americas Securities LLC raised its stake in Northrim BanCorp by 25.8% in the 4th quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider's stock worth $195,000 after purchasing an additional 513 shares in the last quarter. DecisionPoint Financial LLC acquired a new stake in Northrim BanCorp in the 4th quarter worth about $39,000. Sunpointe LLC acquired a new stake in Northrim BanCorp in the 4th quarter worth about $339,000. Bank of New York Mellon Corp raised its stake in Northrim BanCorp by 16.6% in the 4th quarter. Bank of New York Mellon Corp now owns 49,272 shares of the financial services provider's stock worth $3,840,000 after purchasing an additional 7,009 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Northrim BanCorp in the 4th quarter valued at about $1,794,000. Institutional investors and hedge funds 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.