Northrim BanCorp, Inc. (NASDAQ:NRIM) Sees Large Drop in Short Interest

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 shares of the stock are short sold. Based on an average trading volume of 20,500 shares, the days-to-cover ratio is currently 2.4 days.

Northrim BanCorp Trading Down 2.2 %

Northrim BanCorp stock traded down $1.85 during trading on Friday, hitting $82.85. The company’s stock had a trading volume of 18,747 shares, compared to its average volume of 17,606. The stock’s fifty day moving average is $70.16 and its 200 day moving average is $63.12. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.85. Northrim BanCorp has a 1-year low of $43.92 and a 1-year high of $85.06. The stock has a market capitalization of $455.68 million, a price-to-earnings ratio of 14.14 and a beta of 0.73.

Northrim BanCorp Increases Dividend

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

Hedge Funds Weigh In On Northrim BanCorp

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Northrim BanCorp by 0.6% during the first quarter. Vanguard Group Inc. now owns 292,798 shares of the financial services provider’s stock valued at $14,789,000 after purchasing an additional 1,795 shares during the last quarter. State Street Corp lifted its holdings in shares of Northrim BanCorp by 8.0% during the third quarter. State Street Corp now owns 107,568 shares of the financial services provider’s stock worth $7,661,000 after buying an additional 8,012 shares during the last quarter. American Century Companies Inc. increased its stake in Northrim BanCorp by 7.3% during the second quarter. American Century Companies Inc. now owns 84,730 shares of the financial services provider’s stock valued at $4,884,000 after acquiring an additional 5,794 shares during the period. De Lisle Partners LLP lifted its holdings in shares of Northrim BanCorp by 11.6% during the 3rd quarter. De Lisle Partners LLP now owns 77,095 shares of the financial services provider’s stock worth $5,476,000 after acquiring an additional 8,000 shares during the period. Finally, Huber Capital Management LLC boosted its stake in shares of Northrim BanCorp by 0.4% in the 1st 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 in the last quarter. 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.