Northrim BanCorp Inc (NASDAQ:NRIM - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.31 and traded as high as $23.90. Northrim BanCorp shares last traded at $22.64, with a volume of 284,280 shares traded.
Wall Street Analyst Weigh In
Separately, Wall Street Zen downgraded Northrim BanCorp from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $26.00.
Read Our Latest Stock Analysis on NRIM
Northrim BanCorp Stock Performance
The company has a market capitalization of $125.04 million, a price-to-earnings ratio of 2.83 and a beta of 0.97. The stock has a 50-day moving average price of $22.44 and a 200-day moving average price of $21.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.91 and a quick ratio of 0.87.
Northrim BanCorp (NASDAQ:NRIM - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.04). The business 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%. As a group, analysts forecast that Northrim BanCorp Inc will post 8.05 earnings per share for the current year.
Northrim BanCorp Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Thursday, September 4th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, September 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.8%. Northrim BanCorp's dividend payout ratio (DPR) is 32.04%.
Hedge Funds Weigh In On Northrim BanCorp
A number of large investors have recently made changes to their positions in NRIM. Boston Partners bought a new position in shares of Northrim BanCorp during the first quarter worth approximately $2,474,000. Vanguard Group Inc. increased its stake in Northrim BanCorp by 10.8% during the 1st quarter. Vanguard Group Inc. now owns 333,609 shares of the financial services provider's stock worth $24,427,000 after acquiring an additional 32,492 shares during the period. JPMorgan Chase & Co. increased its stake in Northrim BanCorp by 147.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 46,330 shares of the financial services provider's stock worth $4,321,000 after acquiring an additional 27,635 shares during the period. Panagora Asset Management Inc. increased its stake in Northrim BanCorp by 299.5% during the 1st quarter. Panagora Asset Management Inc. now owns 26,927 shares of the financial services provider's stock worth $1,972,000 after acquiring an additional 20,186 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in Northrim BanCorp by 34.0% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 71,858 shares of the financial services provider's stock worth $5,261,000 after acquiring an additional 18,230 shares during the period. Institutional investors own 65.99% of the company's stock.
About Northrim BanCorp
(
Get Free Report)
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.
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