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

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

Northrim BanCorp Stock Down 2.2 %

NASDAQ:NRIM traded down $1.85 during trading hours on Friday, reaching $82.85. 18,747 shares of the stock were exchanged, compared to its average volume of 17,606. The stock has a market cap of $455.68 million, a PE ratio of 14.14 and a beta of 0.73. Northrim BanCorp has a twelve month low of $43.92 and a twelve month high of $85.06. The firm has a 50 day moving average of $70.16 and a 200 day moving average of $63.12. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.81.

Northrim BanCorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, September 5th were paid a $0.62 dividend. The ex-dividend date was Thursday, September 5th. This represents a $2.48 dividend on an annualized basis and a yield of 2.99%. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.61. Northrim BanCorp’s dividend payout ratio (DPR) is currently 42.32%.

Hedge Funds Weigh In On Northrim BanCorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in Northrim BanCorp by 48.6% in the first 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 during the last quarter. Empowered Funds LLC increased its position in Northrim BanCorp by 8.1% in the 1st quarter. Empowered Funds LLC now owns 18,499 shares of the financial services provider’s stock valued at $934,000 after buying an additional 1,390 shares in the last quarter. Vanguard Group Inc. lifted its position in Northrim BanCorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 292,798 shares of the financial services provider’s stock valued at $14,789,000 after acquiring an additional 1,795 shares in the last quarter. Huber Capital Management LLC boosted its stake in Northrim BanCorp by 0.4% during 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 during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of 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 purchasing an additional 1,149 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.