Northrim BanCorp, Inc. (NASDAQ:NRIM) Short Interest Down 20.5% in October

Northrim BanCorp, Inc. (NASDAQ:NRIM) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 49,700 shares, a drop of 20.5% from the October 15th total of 62,500 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily volume of 20,500 shares, the days-to-cover ratio is currently 2.4 days.

Northrim BanCorp Stock Performance

Shares of Northrim BanCorp stock traded down $1.85 during trading hours on Friday, reaching $82.85. The company’s stock had a trading volume of 18,753 shares, compared to its average volume of 22,522. Northrim BanCorp has a one year low of $43.92 and a one year high of $85.06. The company’s 50 day simple moving average is $70.16 and its 200 day simple moving average is $63.23. 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 stock has a market cap of $455.68 million, a P/E ratio of 14.14 and a beta of 0.73.

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 paid a $0.62 dividend. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Thursday, September 5th. Northrim BanCorp’s payout ratio is presently 42.32%.

Insider Buying and Selling at Northrim BanCorp

In related news, Director Linda C. Thomas sold 2,550 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $79.00, for a total transaction of $201,450.00. Following the transaction, the director now directly owns 1,172 shares in the company, valued at $92,588. This trade represents a 68.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.10% of the stock is owned by insiders.

Institutional Trading of Northrim BanCorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Elizabeth Park Capital Advisors Ltd. lifted its holdings in Northrim BanCorp by 27.3% in the second quarter. Elizabeth Park Capital Advisors Ltd. now owns 46,316 shares of the financial services provider’s stock worth $2,670,000 after purchasing an additional 9,919 shares during the period. Renaissance Technologies LLC boosted its position in shares of Northrim BanCorp by 27.2% in the second quarter. Renaissance Technologies LLC now owns 27,100 shares of the financial services provider’s stock worth $1,562,000 after buying an additional 5,800 shares during the period. Empowered Funds LLC boosted its position in Northrim BanCorp by 8.1% during the 1st quarter. Empowered Funds LLC now owns 18,499 shares of the financial services provider’s stock worth $934,000 after acquiring an additional 1,390 shares during the period. Los Angeles Capital Management LLC grew its position in 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 purchasing an additional 1,561 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Northrim BanCorp by 48.6% during the 1st quarter. BNP Paribas Financial Markets now owns 9,129 shares of the financial services provider’s stock valued at $461,000 after acquiring an additional 2,986 shares in 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.