Northrim BanCorp Inc (NASDAQ:NRIM) Declares $0.16 Quarterly Dividend

Northrim BanCorp Inc (NASDAQ:NRIM) declared a quarterly dividend on Friday, May 29th. Investors of record on Thursday, June 11th will be paid a dividend of 0.16 per share by the financial services provider on Thursday, June 18th. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, June 11th.

Northrim BanCorp has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 16 years. Northrim BanCorp has a payout ratio of 6.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Northrim BanCorp to earn $2.75 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 23.3%.

Northrim BanCorp Stock Down 0.1%

NASDAQ NRIM traded down $0.03 during mid-day trading on Friday, hitting $24.71. The company’s stock had a trading volume of 97,058 shares, compared to its average volume of 159,850. The firm has a market capitalization of $549.80 million, a price-to-earnings ratio of 8.57 and a beta of 0.90. The company’s 50 day simple moving average is $24.02 and its 200 day simple moving average is $24.92. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.24. Northrim BanCorp has a twelve month low of $19.60 and a twelve month high of $30.82.

Northrim BanCorp (NASDAQ:NRIM) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. The firm had revenue of $48.30 million for the quarter, compared to analyst estimates of $50.60 million. Northrim BanCorp had a net margin of 24.91% and a return on equity of 16.99%. Analysts anticipate that Northrim BanCorp will post 2.6 earnings per share for the current 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.