Northrim BanCorp Inc (NRIM) To Go Ex-Dividend on June 11th

Northrim BanCorp Inc (NASDAQ:NRIM) announced a quarterly dividend on Friday, May 29th. Stockholders of record on Thursday, June 11th will be paid a dividend of 0.16 per share by the financial services provider on Thursday, June 18th. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Thursday, June 11th.

Northrim BanCorp has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 16 consecutive years. Northrim BanCorp has a payout ratio of 6.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Northrim BanCorp to earn $2.75 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 23.3%.

Northrim BanCorp Price Performance

NASDAQ NRIM opened at $24.71 on Friday. The business has a 50 day simple moving average of $24.07 and a 200 day simple moving average of $24.92. Northrim BanCorp has a 52-week low of $19.60 and a 52-week high of $30.82. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.91 and a current ratio of 0.93. The stock has a market cap of $549.80 million, a price-to-earnings ratio of 8.57 and a beta of 0.90.

Northrim BanCorp (NASDAQ:NRIM) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. Northrim BanCorp had a return on equity of 16.99% and a net margin of 24.91%.The business had revenue of $48.30 million during the quarter, compared to analysts’ expectations of $50.60 million. Analysts anticipate that Northrim BanCorp will post 2.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Northrim BanCorp

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its stake in shares of Northrim BanCorp by 34.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 538 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 138 shares in the last quarter. Financial Management Professionals Inc. bought a new position in shares of Northrim BanCorp during the 4th quarter worth approximately $27,000. Western Wealth Management LLC bought a new position in shares of Northrim BanCorp during the 1st quarter worth approximately $27,000. Quarry LP grew its stake in shares of Northrim BanCorp by 47.7% during the 4th quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 412 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Northrim BanCorp by 300.0% during the 3rd quarter. Federated Hermes Inc. now owns 1,452 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 1,089 shares in the last quarter. 65.99% of the stock is owned by institutional investors.

About Northrim BanCorp

Northrim BanCorp is the bank holding company for Northrim Bank, a community bank headquartered in Anchorage, Alaska. The company offers a comprehensive suite of personal and commercial banking products and services, including checking and savings accounts, consumer and commercial loans, mortgage financing, and treasury and cash management solutions.

With branches located across Alaska’s major population centers—such as Anchorage, Fairbanks and Juneau—Northrim serves both urban and rural communities.