Northrim BanCorp (NASDAQ:NRIM) Sets New 1-Year High – What’s Next?

Northrim BanCorp, Inc. (NASDAQ:NRIM) hit a new 52-week high during trading on Monday . The stock traded as high as $91.72 and last traded at $91.02, with a volume of 10338 shares. The stock had previously closed at $88.50.

Northrim BanCorp Stock Down 0.7 %

The firm has a market cap of $470.64 million, a PE ratio of 14.71 and a beta of 0.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.85. The company’s 50-day simple moving average is $72.52 and its two-hundred day simple moving average is $64.99.

Insider Activity

In other news, Director Linda C. Thomas sold 2,550 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $79.00, for a total transaction of $201,450.00. Following the sale, the director now owns 1,172 shares in the company, valued at approximately $92,588. The trade was a 68.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.10% of the company’s stock.

Institutional Trading of Northrim BanCorp

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Northrim BanCorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 292,798 shares of the financial services provider’s stock worth $14,789,000 after acquiring an additional 1,795 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Northrim BanCorp by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 47,275 shares of the financial services provider’s stock worth $2,725,000 after buying an additional 1,149 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Northrim BanCorp by 2.6% in the second quarter. Rhumbline Advisers now owns 6,703 shares of the financial services provider’s stock worth $386,000 after buying an additional 169 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Northrim BanCorp by 19.1% during the second quarter. Los Angeles Capital Management LLC now owns 9,741 shares of the financial services provider’s stock valued at $561,000 after acquiring an additional 1,561 shares in the last quarter. Finally, ClariVest Asset Management LLC bought a new position in Northrim BanCorp in the 2nd quarter valued at approximately $1,141,000. Hedge funds and other institutional investors 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.