Northrim BanCorp (NASDAQ:NRIM) Stock Price Passes Above Two Hundred Day Moving Average of $41.49

Northrim BanCorp, Inc. (NASDAQ:NRIMGet Rating) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $41.49 and traded as high as $42.85. Northrim BanCorp shares last traded at $42.49, with a volume of 13,353 shares.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Northrim BanCorp from a “hold” rating to a “buy” rating in a report on Saturday, July 16th.

Northrim BanCorp Stock Performance

The stock has a market capitalization of $245.42 million, a PE ratio of 8.86 and a beta of 0.67. The firm’s fifty day moving average is $41.07 and its 200-day moving average is $41.49. The company has a current ratio of 0.78, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11.

Northrim BanCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, September 8th were issued a $0.50 dividend. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.41. This represents a $2.00 annualized dividend and a yield of 4.74%. The ex-dividend date was Wednesday, September 7th. Northrim BanCorp’s payout ratio is 42.02%.

Institutional Trading of Northrim BanCorp

Several institutional investors and hedge funds have recently bought and sold shares of NRIM. Jane Street Group LLC purchased a new stake in Northrim BanCorp during the second quarter worth about $306,000. Cubist Systematic Strategies LLC purchased a new stake in Northrim BanCorp during the second quarter worth about $223,000. Citadel Advisors LLC increased its stake in Northrim BanCorp by 183.6% during the second quarter. Citadel Advisors LLC now owns 38,862 shares of the financial services provider’s stock worth $1,565,000 after purchasing an additional 25,157 shares during the period. Millennium Management LLC increased its stake in Northrim BanCorp by 214.1% during the second quarter. Millennium Management LLC now owns 81,509 shares of the financial services provider’s stock worth $3,282,000 after purchasing an additional 55,560 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Northrim BanCorp by 0.8% during the second quarter. Renaissance Technologies LLC now owns 72,400 shares of the financial services provider’s stock worth $2,915,000 after purchasing an additional 600 shares during the period. 64.38% of the stock is currently owned by hedge funds and other institutional investors.

About Northrim BanCorp

(Get Rating)

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 in 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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