Northrim BanCorp (NASDAQ:NRIM) Stock Passes Above 200-Day Moving Average - Should You Sell?

Northrim BanCorp Inc (NASDAQ:NRIM - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-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.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NRIM shares. Hovde Group upped their price objective 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 downgraded shares of Northrim BanCorp from a "buy" rating to a "hold" rating in a report on Friday, May 30th.

Northrim BanCorp Trading Up 0.8%

The company has a debt-to-equity ratio of 0.08, a current ratio of 0.88 and a quick ratio of 0.82. The stock has a market cap of $482.45 million, a price-to-earnings ratio of 11.62 and a beta of 0.98. The company's fifty day moving average price is $84.06 and its 200-day moving average price is $80.69.

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 for the quarter, compared to the consensus estimate of $44.10 million. On average, research analysts expect 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. Investors of record on Thursday, June 5th were issued a $0.64 dividend. The ex-dividend date was Thursday, June 5th. This represents a $2.56 annualized dividend and a yield of 2.93%. Northrim BanCorp's dividend payout ratio (DPR) is presently 34.04%.

Hedge Funds Weigh In On Northrim BanCorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. increased its holdings in Northrim BanCorp by 388.6% in the 1st quarter. Federated Hermes Inc. now owns 342 shares of the financial services provider's stock worth $25,000 after buying an additional 272 shares during the period. Tower Research Capital LLC TRC increased its holdings in 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 worth $29,000 after buying an additional 133 shares during the period. US Bancorp DE acquired a new position in Northrim BanCorp in the 1st quarter worth approximately $37,000. Olde Wealth Management LLC acquired a new position in Northrim BanCorp in the 1st quarter worth approximately $55,000. Finally, Quantbot Technologies LP acquired a new position in Northrim BanCorp in the 4th quarter worth approximately $112,000. 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.