Northrim BanCorp, Inc. (NRIM) to Issue Quarterly Dividend of $0.62 on December 27th

Northrim BanCorp, Inc. (NASDAQ:NRIM) declared a quarterly dividend on Thursday, December 5th,RTT News reports. Stockholders of record on Thursday, December 19th will be given 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 dividend yield of 2.91%. The ex-dividend date is Thursday, December 19th.

Northrim BanCorp has increased its dividend by an average of 20.3% annually over the last three years and has increased 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. Equities 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 $85.28 on Tuesday. The firm has a market cap of $469.21 million, a price-to-earnings ratio of 14.55 and a beta of 0.81. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.81. Northrim BanCorp has a 1-year low of $43.92 and a 1-year high of $91.72. The firm’s fifty day moving average price is $77.13 and its 200 day moving average price is $68.09.

Insider Transactions at Northrim BanCorp

In other Northrim BanCorp 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 value of $201,450.00. Following the completion of the transaction, the director now owns 1,172 shares in the company, valued at approximately $92,588. This represents a 68.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.10% of the company’s stock.

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.