Northrim BanCorp Inc (NASDAQ:NRIM) to Issue Quarterly Dividend of $0.17

Northrim BanCorp Inc (NASDAQ:NRIM) announced a quarterly dividend on Friday, August 28th. Stockholders of record on Thursday, September 10th will be given a dividend of 0.17 per share by the financial services provider on Friday, September 18th. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, September 10th. This is a 6.3% increase from Northrim BanCorp’s previous quarterly dividend of $0.16.

Northrim BanCorp has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 16 years. Northrim BanCorp has a dividend payout ratio of 6.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Northrim BanCorp to earn $2.65 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 24.2%.

Northrim BanCorp Stock Performance

Northrim BanCorp stock traded down $0.15 during trading on Friday, reaching $25.65. The company had a trading volume of 123,646 shares, compared to its average volume of 160,326. The firm has a market capitalization of $570.58 million, a price-to-earnings ratio of 8.44 and a beta of 0.88. The company has a current ratio of 0.94, a quick ratio of 0.91 and a debt-to-equity ratio of 0.23. The firm’s 50-day simple moving average is $26.86 and its 200 day simple moving average is $25.15. Northrim BanCorp has a 52 week low of $19.60 and a 52 week high of $30.82.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. Northrim BanCorp had a return on equity of 17.33% and a net margin of 26.03%.The business had revenue of $53.79 million during the quarter, compared to analyst estimates of $51.80 million. Sell-side analysts forecast that Northrim BanCorp will post 2.57 earnings per share for the current fiscal year.

About Northrim BanCorp

Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.

With branches located across Alaska’s major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.