Northrim BanCorp, Inc. (NASDAQ:NRIM) declared a quarterly dividend on Friday, August 23rd, NASDAQ reports. Stockholders of record on Thursday, September 5th will be paid a dividend of 0.33 per share by the financial services provider on Friday, September 13th. This represents a $1.32 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Wednesday, September 4th. This is an increase from Northrim BanCorp’s previous quarterly dividend of $0.30.
Northrim BanCorp has increased its dividend by an average of 11.3% annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Northrim BanCorp has a dividend payout ratio of 46.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Northrim BanCorp to earn $2.25 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 58.7%.
Shares of NRIM opened at $36.20 on Tuesday. The stock has a 50-day simple moving average of $36.28 and a 200-day simple moving average of $35.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.84 and a current ratio of 0.89. The stock has a market capitalization of $241.57 million, a PE ratio of 12.66 and a beta of 0.78. Northrim BanCorp has a 1 year low of $29.66 and a 1 year high of $45.40.
Several equities analysts have recently issued reports on the company. BidaskClub raised Northrim BanCorp from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Zacks Investment Research lowered Northrim BanCorp from a “hold” rating to a “sell” rating in a research report on Friday, August 9th.
About Northrim BanCorp
Northrim BanCorp, Inc operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals in Alaska. It operates in two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, money market deposit accounts, certificates of deposit, and courier noncash deposits.
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