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

Northrim BanCorp, Inc. (NASDAQ:NRIM - Get Free Report) declared a quarterly dividend on Friday, December 6th,RTT News reports. Stockholders 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 dividend yield of 2.87%.

Northrim BanCorp has raised its dividend payment by an average of 20.3% per year 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 Up 0.6 %

Shares of NASDAQ:NRIM traded up $0.48 during mid-day trading on Friday, hitting $86.51. 22,490 shares of the company traded hands, compared to its average volume of 24,384. The stock has a 50-day moving average price of $75.03 and a two-hundred day moving average price of $66.58. 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 $475.81 million, a P/E ratio of 14.76 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.

Insider Buying and Selling

In related news, Director Linda C. Thomas sold 2,550 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 1,172 shares of the company's stock, valued at approximately $92,588. This trade represents a 68.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.