Northrim BanCorp, Inc. (NASDAQ:NRIM) Plans Dividend Increase – $0.33 Per Share

Share on StockTwits

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.

Northrim BanCorp (NASDAQ:NRIM) last announced its quarterly earnings data on Monday, July 29th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.08). The company had revenue of $25.53 million during the quarter, compared to analysts’ expectations of $24.50 million. Northrim BanCorp had a net margin of 18.42% and a return on equity of 9.07%. Analysts predict that Northrim BanCorp will post 2.61 EPS for the current year.

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.

Recommended Story: Buy-Side Analysts

Dividend History for Northrim BanCorp (NASDAQ:NRIM)

Receive News & Ratings for Northrim BanCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrim BanCorp and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Zacks: Brokerages Expect Comstock Resources Inc  Will Announce Earnings of $0.18 Per Share
Zacks: Brokerages Expect Comstock Resources Inc Will Announce Earnings of $0.18 Per Share
Xebec Adsorption Inc.  Insider Sells C$24,600.00 in Stock
Xebec Adsorption Inc. Insider Sells C$24,600.00 in Stock
British American Tobacco Plc Ads’  “Buy” Rating Reiterated at UBS Group
British American Tobacco Plc Ads’ “Buy” Rating Reiterated at UBS Group
Nokia Oyj  PT Set at €4.10 by Goldman Sachs Group
Nokia Oyj PT Set at €4.10 by Goldman Sachs Group
Baader Bank Analysts Give Fielmann  a €75.00 Price Target
Baader Bank Analysts Give Fielmann a €75.00 Price Target
Bank of America Boosts Bristol-Myers Squibb  Price Target to $50.00
Bank of America Boosts Bristol-Myers Squibb Price Target to $50.00


© 2006-2019 Ticker Report