Northrim BanCorp (NASDAQ:NRIM) Sets New 52-Week High – Time to Buy?

Shares of 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 changing hands. The stock had previously closed at $88.50.

Northrim BanCorp Price Performance

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

Insider Buying and Selling at Northrim BanCorp

In other Northrim BanCorp news, Director Linda C. Thomas sold 2,550 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $79.00, for a total value of $201,450.00. Following the transaction, the director now directly owns 1,172 shares in the company, valued at $92,588. This represents a 68.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Northrim BanCorp

Several hedge funds have recently bought and sold shares of the stock. FMR LLC increased its stake in Northrim BanCorp by 13.1% in the third quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 201 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Northrim BanCorp during the 3rd quarter valued at about $142,000. Fulton Bank N.A. purchased a new position in shares of Northrim BanCorp during the 3rd quarter valued at about $214,000. Ritholtz Wealth Management bought a new stake in Northrim BanCorp in the 3rd quarter worth approximately $226,000. Finally, Sei Investments Co. boosted its stake in Northrim BanCorp by 15.0% in the second quarter. Sei Investments Co. now owns 4,598 shares of the financial services provider’s stock worth $265,000 after buying an additional 600 shares in the last quarter. 65.99% of the stock is currently owned by institutional investors.

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.