Northrim BanCorp (NASDAQ:NRIM) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Northrim BanCorp Inc (NASDAQ:NRIM - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $80.61 and traded as high as $89.00. Northrim BanCorp shares last traded at $86.49, with a volume of 77,356 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on NRIM shares. Hovde Group upped their price target on shares of 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 cut shares of Northrim BanCorp from a "buy" rating to a "hold" rating in a research report on Friday, May 30th.

Northrim BanCorp Stock Performance

The firm has a market cap of $481.32 million, a price-to-earnings ratio of 11.60 and a beta of 0.98. The stock has a 50-day moving average of $84.06 and a 200-day moving average of $80.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.88.

Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.82. Northrim BanCorp had a net margin of 20.23% and a return on equity of 15.97%. The company had revenue of $45.50 million during the quarter, compared to analysts' expectations of $44.10 million. As a group, analysts anticipate that Northrim BanCorp Inc will post 8.05 EPS for the current fiscal year.

Northrim BanCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, June 5th were paid a $0.64 dividend. The ex-dividend date was Thursday, June 5th. This represents a $2.56 annualized dividend and a yield of 2.94%. Northrim BanCorp's payout ratio is currently 34.04%.

Hedge Funds Weigh In On Northrim BanCorp

Several hedge funds have recently modified their holdings of NRIM. Jacobs Levy Equity Management Inc. boosted its position in 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 purchasing an additional 116 shares during the last quarter. First Manhattan CO. LLC. raised its stake in shares of Northrim BanCorp by 0.6% during the 4th quarter. First Manhattan CO. LLC. now owns 22,625 shares of the financial services provider's stock worth $1,763,000 after purchasing an additional 125 shares in the last quarter. Hohimer Wealth Management LLC raised its stake in shares of Northrim BanCorp by 4.6% during the 1st quarter. Hohimer Wealth Management LLC now owns 2,881 shares of the financial services provider's stock worth $211,000 after purchasing an additional 127 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Northrim BanCorp by 57.1% in the 4th 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 last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Northrim BanCorp by 4.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,026 shares of the financial services provider's stock valued at $236,000 after buying an additional 137 shares in the last quarter. Institutional investors own 65.99% of the company's stock.

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.