Northrim BanCorp Inc (NRIM) To Go Ex-Dividend on December 18th

Northrim BanCorp Inc (NASDAQ:NRIM) announced a quarterly dividend on Thursday, December 4th. Investors of record on Thursday, December 18th will be paid a dividend of 0.16 per share by the financial services provider on Friday, December 26th. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, December 18th.

Northrim BanCorp has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 16 consecutive years. Northrim BanCorp has a dividend payout ratio of 6.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Northrim BanCorp to earn $8.45 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 7.6%.

Northrim BanCorp Stock Up 0.2%

Northrim BanCorp stock opened at $27.70 on Tuesday. The firm has a market cap of $611.89 million, a price-to-earnings ratio of 9.88 and a beta of 0.98. Northrim BanCorp has a 52-week low of $16.17 and a 52-week high of $28.21. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a 50 day moving average price of $23.17 and a two-hundred day moving average price of $22.79.

Northrim BanCorp (NASDAQ:NRIM) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.10. The company had revenue of $66.59 million during the quarter, compared to analysts’ expectations of $50.60 million. Northrim BanCorp had a net margin of 25.32% and a return on equity of 18.12%. Equities analysts predict that Northrim BanCorp will post 8.05 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NRIM shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northrim BanCorp in a report on Tuesday, October 14th. Hovde Group lifted their price objective on shares of Northrim BanCorp from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Zacks Research upgraded shares of Northrim BanCorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. Finally, Wall Street Zen raised shares of Northrim BanCorp from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat, Northrim BanCorp presently has a consensus rating of “Buy” and an average price target of $33.00.

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.