Northrim BanCorp Inc (NRIM) To Go Ex-Dividend on September 10th

Northrim BanCorp Inc (NASDAQ:NRIM) announced a quarterly dividend on Friday, August 28th. Investors 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 yield of 2.7%. The ex-dividend date 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%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 research 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

Shares of NRIM opened at $25.65 on Friday. The firm has a 50-day moving average price of $26.86 and a 200 day moving average price of $25.15. The firm has a market capitalization of $570.71 million, a PE ratio of 8.44 and a beta of 0.88. The company has a quick ratio of 0.91, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. 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 earnings results on Thursday, July 23rd. The financial services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. The firm had revenue of $53.79 million for the quarter, compared to analysts’ expectations of $51.80 million. Northrim BanCorp had a net margin of 26.03% and a return on equity of 17.33%. On average, sell-side analysts anticipate 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.