Northrim BanCorp, Inc. (NASDAQ:NRIM) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $34.62 and traded as high as $34.26. Northrim BanCorp shares last traded at $34.10, with a volume of 173 shares changing hands.
Several equities analysts have issued reports on NRIM shares. Zacks Investment Research raised shares of Northrim BanCorp from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. BidaskClub cut shares of Northrim BanCorp from a “buy” rating to a “hold” rating in a research note on Friday, March 1st.
The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $227.56 million, a price-to-earnings ratio of 11.93 and a beta of 0.73. The company has a 50 day simple moving average of $34.62.
Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.01). Northrim BanCorp had a return on equity of 9.91% and a net margin of 20.56%. The company had revenue of $23.30 million for the quarter, compared to analyst estimates of $23.10 million. Sell-side analysts predict that Northrim BanCorp, Inc. will post 2.81 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Thursday, June 6th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.54%. Northrim BanCorp’s dividend payout ratio (DPR) is presently 41.96%.
Several large investors have recently bought and sold shares of NRIM. BNP Paribas Arbitrage SA grew its stake in shares of Northrim BanCorp by 507.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,421 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 1,187 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Northrim BanCorp by 372.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,482 shares of the financial services provider’s stock worth $82,000 after buying an additional 1,957 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Northrim BanCorp in the 1st quarter worth about $129,000. Meeder Asset Management Inc. boosted its position in shares of Northrim BanCorp by 18.7% in the 1st quarter. Meeder Asset Management Inc. now owns 5,858 shares of the financial services provider’s stock worth $202,000 after buying an additional 924 shares in the last quarter. Finally, Brandes Investment Partners LP boosted its position in shares of Northrim BanCorp by 8.3% in the 1st quarter. Brandes Investment Partners LP now owns 7,228 shares of the financial services provider’s stock worth $249,000 after buying an additional 557 shares in the last quarter. 71.83% of the stock is currently owned by institutional investors and hedge funds.
About Northrim BanCorp (NASDAQ:NRIM)
Northrim BanCorp, Inc operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals in Alaska. 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, money market deposit accounts, certificates of deposit, and courier noncash deposits.
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