Northrim BanCorp, Inc. to Issue Quarterly Dividend of $0.62 (NASDAQ:NRIM)

Northrim BanCorp, Inc. (NASDAQ:NRIM) announced a quarterly dividend on Thursday, December 5th,RTT News reports. Investors of record on Thursday, December 19th will be paid a dividend of 0.62 per share by the financial services provider on Friday, December 27th. This represents a $2.48 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Thursday, December 19th.

Northrim BanCorp has raised its dividend by an average of 20.3% annually over the last three years and has raised its dividend every year for the last 15 years. Northrim BanCorp has a dividend payout ratio of 31.2% indicating that its dividend is sufficiently covered by earnings. 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

Shares of NRIM opened at $85.28 on Tuesday. Northrim BanCorp has a 12-month low of $43.92 and a 12-month high of $91.72. The stock has a market cap of $469.21 million, a P/E ratio of 14.55 and a beta of 0.81. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average of $77.13 and a two-hundred day moving average of $68.09.

Insider Activity at Northrim BanCorp

In related news, Director Linda C. Thomas sold 2,550 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $79.00, for a total transaction of $201,450.00. Following the sale, the director now owns 1,172 shares of the company’s stock, valued at $92,588. This trade represents a 68.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.10% of the stock is owned by corporate insiders.

Northrim BanCorp Company Profile

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.