Northrim BanCorp, Inc. (NRIM) To Go Ex-Dividend on March 6th

Northrim BanCorp, Inc. (NASDAQ:NRIM) announced a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Investors of record on Thursday, March 6th will be given a dividend of 0.64 per share by the financial services provider on Friday, March 14th. This represents a $2.56 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from Northrim BanCorp’s previous quarterly dividend of $0.62.

Northrim BanCorp has raised its dividend payment by an average of 17.9% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Northrim BanCorp has a payout ratio of 29.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Northrim BanCorp to earn $7.96 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 31.2%.

Northrim BanCorp Stock Performance

NASDAQ NRIM opened at $82.81 on Thursday. The company has a market capitalization of $455.46 million, a price-to-earnings ratio of 14.13 and a beta of 0.82. Northrim BanCorp has a twelve month low of $43.92 and a twelve month high of $91.72. The stock has a fifty day simple moving average of $80.93 and a 200 day simple moving average of $72.97. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.09.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings data on Friday, January 24th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.72. Northrim BanCorp had a return on equity of 13.31% and a net margin of 17.79%. Sell-side analysts expect that Northrim BanCorp will post 6.38 EPS for the current year.

Analysts Set New Price Targets

Separately, Hovde Group assumed coverage on Northrim BanCorp in a report on Friday, December 20th. They set an “outperform” rating and a $96.50 price target for the company.

Insider Transactions at Northrim BanCorp

In related news, Director Linda C. Thomas sold 2,550 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $79.00, for a total value of $201,450.00. Following the transaction, the director now owns 1,172 shares of the company’s stock, valued at approximately $92,588. This trade represents a 68.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.10% of the company’s stock.

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. It operates through two segments, Community Banking and Home Mortgage Lending. The company offers noninterest-bearing checking accounts and interest-bearing time deposits, checking and savings accounts, individual retirement and money market deposit accounts, certificates of deposit, and business sweep accounts.