Northrim BanCorp, Inc. (NASDAQ:NRIM) Short Interest Update

Northrim BanCorp, Inc. (NASDAQ:NRIM) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 49,700 shares, a decline of 20.5% from the October 15th total of 62,500 shares. Based on an average trading volume of 20,500 shares, the days-to-cover ratio is presently 2.4 days. Currently, 0.9% of the shares of the company are short sold.

Northrim BanCorp Price Performance

Shares of NASDAQ:NRIM traded down $1.85 on Friday, reaching $82.85. 18,753 shares of the company were exchanged, compared to its average volume of 22,522. The company has a 50-day moving average of $70.16 and a 200-day moving average of $63.23. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The firm has a market cap of $455.68 million, a price-to-earnings ratio of 14.14 and a beta of 0.73. Northrim BanCorp has a 1-year low of $43.92 and a 1-year high of $85.06.

Northrim BanCorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, September 5th were given a dividend of $0.62 per share. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Thursday, September 5th. Northrim BanCorp’s dividend payout ratio is presently 42.32%.

Insider Transactions at Northrim BanCorp

In other Northrim BanCorp news, Director Linda C. Thomas sold 2,550 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $79.00, for a total value of $201,450.00. Following the completion of the transaction, the director now owns 1,172 shares in the company, valued at approximately $92,588. This represents a 68.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Northrim BanCorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its position in shares of Northrim BanCorp by 2.6% in the 2nd 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. Huber Capital Management LLC grew its position in shares of Northrim BanCorp by 0.4% in the first quarter. Huber Capital Management LLC now owns 56,079 shares of the financial services provider’s stock valued at $2,833,000 after purchasing an additional 200 shares during the last quarter. FMR LLC increased its stake in shares of Northrim BanCorp by 13.1% during the 3rd quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 201 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Northrim BanCorp by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,677 shares of the financial services provider’s stock worth $1,117,000 after purchasing an additional 457 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Northrim BanCorp by 15.0% during the 2nd quarter. Sei Investments Co. now owns 4,598 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 600 shares during the last quarter. 65.99% of the stock is currently owned by institutional investors and hedge funds.

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.