Short Interest in Northrim BanCorp, Inc. (NASDAQ:NRIM) Decreases By 20.2%

Northrim BanCorp, Inc. (NASDAQ:NRIM) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 35,200 shares, a decrease of 20.2% from the December 31st total of 44,100 shares. Based on an average daily volume of 38,400 shares, the short-interest ratio is presently 0.9 days. Currently, 0.7% of the company’s stock are sold short.

Northrim BanCorp Stock Up 2.4 %

NRIM traded up $2.02 during trading hours on Friday, hitting $85.13. 66,081 shares of the company’s stock were exchanged, compared to its average volume of 51,979. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. Northrim BanCorp has a 12-month low of $43.92 and a 12-month high of $91.72. The firm has a market cap of $468.22 million, a P/E ratio of 12.86 and a beta of 0.82. The firm has a 50 day moving average of $80.82 and a 200 day moving average of $73.20.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings data on Friday, January 24th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.72. Northrim BanCorp had a net margin of 18.87% and a return on equity of 14.86%. Analysts predict that Northrim BanCorp will post 7.96 EPS for the current fiscal year.

Northrim BanCorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.01%. This is a boost from Northrim BanCorp’s previous quarterly dividend of $0.62. Northrim BanCorp’s payout ratio is 37.46%.

Analysts Set New Price Targets

Separately, Hovde Group began coverage on Northrim BanCorp in a research note on Friday, December 20th. They set an “outperform” rating and a $96.50 target price for the company.

Insiders Place Their Bets

In other Northrim BanCorp news, Director Linda C. Thomas sold 2,550 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $79.00, for a total transaction of $201,450.00. Following the sale, the director now owns 1,172 shares in the company, valued at approximately $92,588. The trade was a 68.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Northrim BanCorp

A number of institutional investors have recently modified their holdings of the business. FMR LLC raised its position in 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 buying an additional 201 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Northrim BanCorp by 3.0% during the third 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 in the last quarter. DecisionPoint Financial LLC acquired a new stake in Northrim BanCorp in the fourth quarter valued at about $39,000. SG Americas Securities LLC boosted its holdings in Northrim BanCorp by 25.8% in the 4th quarter. SG Americas Securities LLC now owns 2,501 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 513 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Northrim BanCorp by 15.0% in the 2nd quarter. Sei Investments Co. now owns 4,598 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 600 shares in the last quarter. 65.99% of the stock is 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.