Short Interest in Northrim BanCorp, Inc. (NASDAQ:NRIM) Decreases By 53.8%

Northrim BanCorp, Inc. (NASDAQ:NRIM – Get Rating) saw a significant decrease in short interest in May. As of May 15th, there was short interest totalling 27,800 shares, a decrease of 53.8% from the April 30th total of 60,200 shares. Based on an average trading volume of 31,700 shares, the short-interest ratio is currently 0.9 days. Currently, 0.5% of the shares of the company are short sold.

Insider Buying and Selling at Northrim BanCorp

In other Northrim BanCorp news, Director David G. Wight bought 1,000 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was acquired at an average price of $52.76 per share, for a total transaction of $52,760.00. Following the completion of the purchase, the director now owns 16,000 shares of the company’s stock, valued at $844,160. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Joseph M. Schierhorn acquired 2,000 shares of Northrim BanCorp stock in a transaction that occurred on Tuesday, May 2nd. The stock was purchased at an average price of $35.97 per share, for a total transaction of $71,940.00. Following the completion of the transaction, the chief executive officer now directly owns 42,716 shares in the company, valued at $1,536,494.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David G. Wight acquired 1,000 shares of Northrim BanCorp stock in a transaction that occurred on Thursday, March 2nd. The stock was purchased at an average price of $52.76 per share, with a total value of $52,760.00. Following the transaction, the director now owns 16,000 shares of the company’s stock, valued at $844,160. The disclosure for this purchase can be found here. Insiders purchased 7,225 shares of company stock worth $283,706 over the last 90 days. Corporate insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NRIM. Bank of New York Mellon Corp lifted its holdings in Northrim BanCorp by 2.4% during the 1st quarter. Bank of New York Mellon Corp now owns 63,399 shares of the financial services provider’s stock worth $2,763,000 after buying an additional 1,471 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Northrim BanCorp by 26.4% in the 1st quarter. American Century Companies Inc. now owns 25,852 shares of the financial services provider’s stock worth $1,126,000 after purchasing an additional 5,394 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Northrim BanCorp by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 3,484 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 1,265 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Northrim BanCorp by 4.2% in the 1st quarter. BlackRock Inc. now owns 779,683 shares of the financial services provider’s stock worth $33,971,000 after purchasing an additional 31,470 shares during the last quarter. Finally, Ancora Advisors LLC lifted its holdings in shares of Northrim BanCorp by 27.7% in the 1st quarter. Ancora Advisors LLC now owns 15,174 shares of the financial services provider’s stock worth $645,000 after purchasing an additional 3,290 shares during the last quarter. Institutional investors own 65.42% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Northrim BanCorp in a research report on Thursday, May 18th. They set a “hold” rating on the stock.

Northrim BanCorp Stock Down 1.9 %

NASDAQ NRIM traded down $0.73 during mid-day trading on Friday, reaching $38.07. 29,164 shares of the company’s stock traded hands, compared to its average volume of 26,370. Northrim BanCorp has a 1-year low of $33.29 and a 1-year high of $56.77. The company has a fifty day simple moving average of $41.91 and a 200-day simple moving average of $49.44. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.11. The company has a market cap of $215.10 million, a price-to-earnings ratio of 8.02 and a beta of 0.65.

Northrim BanCorp Company Profile

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Northrim Bancorp, Inc operates as a bank holding company. The firm provides personal, business and commercial banking products and services. It operates through the following segments: Community Banking and Home Mortgage Lending. The Community Banking segment offers loan and deposit products to business and consumer customers in the company’s market areas.