Northrim BanCorp, Inc. Declares Quarterly Dividend of $0.64 Per Share

Northrim BanCorp announces a $0.64 dividend per share, payable June 13, 2025, reflecting strong first-quarter earnings.

Quiver AI Summary

Northrim BanCorp, Inc. has declared a quarterly cash dividend of $0.64 per share, set to be paid on June 13, 2025, to shareholders on record by June 5, 2025. The announcement was made by President and CEO Mike Huston, emphasizing the company's commitment to returning value to shareholders. At a stock price of $87.35, this dividend represents an annual yield of 2.93%. Additionally, Northrim reported a first-quarter net income of $13.3 million, or $2.38 per diluted share, reflecting an increase from the previous quarter and the same quarter last year. Northrim BanCorp operates as a community bank in Alaska, with a focus on local economic knowledge and customer service.

Potential Positives

• The declaration of a regular quarterly cash dividend of $0.64 per share demonstrates the company's commitment to returning value to its shareholders.
• The company reported a significant increase in net income for the first quarter of 2025, reaching $13.3 million, reflecting strong financial performance.
• The dividend yield of 2.93% on an annualized basis is attractive for investors seeking income from their investments.

Potential Negatives

• The announcement of the dividend may signal that the company does not have sufficient growth opportunities to reinvest profits, which could raise concerns among investors about long-term growth prospects.


• The dividend yield of 2.93% may be perceived as low compared to other investment opportunities, which could lead to investor dissatisfaction or indicate a lack of confidence in the company's ability to generate higher returns.


• The modest increase in net income from the previous quarter may not be sufficient to reassure investors about the company's financial momentum, especially in a competitive banking industry.

FAQ

What is the latest dividend announced by Northrim BanCorp?

Northrim BanCorp announced a quarterly cash dividend of $0.64 per share.

When will the dividend be payable?

The dividend will be payable on June 13, 2025, to shareholders of record on June 5, 2025.

What is the current dividend yield for Northrim BanCorp?

The current dividend yield for Northrim BanCorp is 2.93% on an annualized basis.

What was Northrim's net income for the first quarter of 2025?

Northrim reported a net income of $13.3 million, or $2.38 per diluted share, for Q1 2025.

How many branches does Northrim Bank operate?

Northrim Bank operates 20 branches throughout the state of Alaska.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$NRIM Insider Trading Activity

$NRIM insiders have traded $NRIM stock on the open market 3 times in the past 6 months. Of those trades, 2 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $NRIM stock by insiders over the last 6 months:

• MICHAEL G. HUSTON (President, CEO, and COO) sold 453 shares for an estimated $40,398
• MARILYN ROMANO purchased 200 shares for an estimated $15,125
• SHAUNA HEGNA purchased 113 shares for an estimated $9,492

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$NRIM Hedge Fund Activity

We have seen 77 institutional investors add shares of $NRIM stock to their portfolio, and 53 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• AMERIPRISE FINANCIAL INC removed 44,803 shares (-24.1%) from their portfolio in Q1 2025, for an estimated $3,280,475
• DIMENSIONAL FUND ADVISORS LP removed 40,488 shares (-9.0%) from their portfolio in Q1 2025, for an estimated $2,964,531
• BRIDGEWAY CAPITAL MANAGEMENT, LLC removed 39,660 shares (-85.9%) from their portfolio in Q1 2025, for an estimated $2,903,905
• BOSTON PARTNERS added 33,786 shares (+inf%) to their portfolio in Q1 2025, for an estimated $2,473,810
• KENNEDY CAPITAL MANAGEMENT LLC removed 33,055 shares (-49.8%) from their portfolio in Q1 2025, for an estimated $2,420,287
• VANGUARD GROUP INC added 32,492 shares (+10.8%) to their portfolio in Q1 2025, for an estimated $2,379,064
• SEGALL BRYANT & HAMILL, LLC removed 27,087 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $1,983,310

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$NRIM Analyst Ratings

Wall Street analysts have issued reports on $NRIM in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

• Hovde Group issued a "Outperform" rating on 12/20/2024

To track analyst ratings and price targets for $NRIM, check out Quiver Quantitative's $NRIM forecast page.

Full Release

ANCHORAGE, Alaska, May 23, 2025 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ: NRIM) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.64 per share. The dividend will be payable on June 13, 2025, to shareholders of record at the close of business on June 5, 2025.

“We are pleased to announce a quarterly dividend of $0.64 per share, as we continue to provide returns to our shareholders,” said Mike Huston, President and CEO. At the stock price of $87.35 per share at the close of the market on May 22, 2025, the current dividend equates to a yield of 2.93% on an annualized basis.

On April 23, 2025, Northrim reported net income of $13.3 million, or $2.38 per diluted share, in the first quarter of 2025, compared to $10.9 million, or $1.95 per diluted share, in the fourth quarter of 2024, and $8.2 million, or $1.48 per diluted share, in the first quarter a year ago.

About Northrim BanCorp

Northrim BanCorp, Inc. is the holding company of Northrim Bank, an Alaska-based community bank with 20 branches throughout the state and differentiates itself with its detailed knowledge of Alaska’s economy and its “Customer First Service” philosophy. The bank has two wholly-owned subsidiaries, Sallyport Commercial Finance, LLC, a specialty finance company and Residential Mortgage Holding Company, LLC, a regional home mortgage company. Pacific Wealth Advisors, LLC is an affiliated company.

www.northrim.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.