Northrim BanCorp Inc (NRIM) To Go Ex-Dividend on September 10th

Northrim BanCorp Inc (NASDAQ:NRIM) declared a quarterly dividend on Thursday, August 27th. Investors of record on Thursday, September 10th will be given a dividend of 0.17 per share by the financial services provider on Friday, September 18th. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Thursday, September 10th. This is a 6.3% increase from Northrim BanCorp’s previous quarterly dividend of $0.16.

Northrim BanCorp has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 16 consecutive years. Northrim BanCorp has a payout ratio of 7.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Northrim BanCorp to earn $2.65 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 25.7%.

Northrim BanCorp Stock Performance

Shares of NRIM opened at $26.45 on Tuesday. The company has a market capitalization of $588.51 million, a P/E ratio of 8.70 and a beta of 0.87. Northrim BanCorp has a one year low of $19.60 and a one year high of $30.82. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.94. The stock has a 50-day moving average price of $26.75 and a 200 day moving average price of $25.17.

Northrim BanCorp (NASDAQ:NRIM) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. Northrim BanCorp had a return on equity of 17.33% and a net margin of 26.03%.The firm had revenue of $53.79 million during the quarter, compared to analyst estimates of $51.80 million. Sell-side analysts forecast that Northrim BanCorp will post 2.68 EPS for the current fiscal year.

Insider Buying and Selling at Northrim BanCorp

In other news, EVP Jed Ballard sold 3,492 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $25.91, for a total transaction of $90,477.72. Following the completion of the transaction, the executive vice president owned 26,835 shares of the company’s stock, valued at approximately $695,294.85. The trade was a 11.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Anthony Drabek sold 1,200 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $25.52, for a total transaction of $30,624.00. Following the transaction, the director directly owned 14,120 shares of the company’s stock, valued at $360,342.40. The trade was a 7.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 18,180 shares of company stock worth $477,724. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its position 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 buying an additional 138 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of Northrim BanCorp during the 1st quarter valued at $27,000. Quarry LP lifted its holdings in shares of Northrim BanCorp by 47.7% during the fourth quarter. Quarry LP now owns 1,275 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 412 shares during the last quarter. Clearstead Advisors LLC boosted its holdings in shares of Northrim BanCorp by 192.4% in the fourth quarter. Clearstead Advisors LLC now owns 1,509 shares of the financial services provider’s stock worth $40,000 after buying an additional 993 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Northrim BanCorp by 298.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 1,568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,174 shares during the period. 65.99% of the stock is owned by institutional investors and hedge funds.

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.