Northrim BanCorp, Inc. Announces Quarterly Dividend of $0.33 (NASDAQ:NRIM)

Northrim BanCorp, Inc. (NASDAQ:NRIM) announced a quarterly dividend on Monday, December 9th, Wall Street Journal reports. Shareholders of record on Thursday, December 19th will be given a dividend of 0.33 per share by the financial services provider on Friday, December 27th. This represents a $1.32 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Wednesday, December 18th.

Shares of NRIM stock traded up $0.62 during trading hours on Monday, reaching $37.57. 19,132 shares of the company’s stock were exchanged, compared to its average volume of 14,499. Northrim BanCorp has a fifty-two week low of $29.66 and a fifty-two week high of $42.28. The stock has a market capitalization of $241.65 million, a P/E ratio of 13.14 and a beta of 0.79. The business has a fifty day moving average price of $38.23 and a 200-day moving average price of $36.89. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 0.16.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.35. Northrim BanCorp had a return on equity of 10.16% and a net margin of 20.05%. The company had revenue of $26.82 million during the quarter, compared to analysts’ expectations of $26.10 million. As a group, research analysts expect that Northrim BanCorp will post 2.93 EPS for the current fiscal year.

In other news, Director David G. Wight bought 650 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were acquired at an average cost of $39.17 per share, with a total value of $25,460.50. Following the completion of the transaction, the director now directly owns 12,650 shares in the company, valued at $495,500.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders purchased 706 shares of company stock valued at $27,837. 2.20% of the stock is owned by corporate insiders.

Several equities analysts recently commented on the stock. BidaskClub cut shares of Northrim BanCorp from a “hold” rating to a “sell” rating in a research note on Friday, November 15th. ValuEngine lowered shares of Northrim BanCorp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of Northrim BanCorp from a “sell” rating to a “hold” rating in a report on Thursday, November 7th.

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 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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Dividend History for Northrim BanCorp (NASDAQ:NRIM)

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