Northrim BanCorp (NASDAQ:NRIM) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Northrim BanCorp Inc (NASDAQ:NRIM)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $24.84 and traded as high as $25.00. Northrim BanCorp shares last traded at $24.64, with a volume of 114,185 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Northrim BanCorp from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Northrim BanCorp Stock Up 0.6%

The company has a market cap of $548.24 million, a price-to-earnings ratio of 8.55 and a beta of 0.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.91 and a current ratio of 0.93. The stock’s fifty day moving average is $23.85 and its two-hundred day moving average is $24.84.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. Northrim BanCorp had a return on equity of 16.99% and a net margin of 24.91%.The firm had revenue of $48.30 million during the quarter, compared to analyst estimates of $50.60 million. Sell-side analysts predict that Northrim BanCorp Inc will post 2.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Northrim BanCorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Northrim BanCorp by 326.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,639,351 shares of the financial services provider’s stock worth $35,508,000 after acquiring an additional 1,254,870 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Northrim BanCorp by 248.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,346,512 shares of the financial services provider’s stock valued at $29,166,000 after purchasing an additional 960,299 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Northrim BanCorp by 18.5% during the fourth quarter. Geode Capital Management LLC now owns 727,180 shares of the financial services provider’s stock valued at $19,353,000 after purchasing an additional 113,293 shares in the last quarter. American Century Companies Inc. boosted its holdings in Northrim BanCorp by 344.3% during the third quarter. American Century Companies Inc. now owns 665,888 shares of the financial services provider’s stock worth $14,423,000 after purchasing an additional 516,030 shares during the last quarter. Finally, De Lisle Partners LLP grew its position in Northrim BanCorp by 3.9% in the 4th quarter. De Lisle Partners LLP now owns 460,708 shares of the financial services provider’s stock worth $12,268,000 after purchasing an additional 17,296 shares in the last quarter. 65.99% of the stock is owned by hedge funds and other institutional investors.

About Northrim BanCorp

Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.

With branches located across Alaska’s major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.