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Northrim BanCorp (NRIM) Could Be a Great Choice
Northrim BanpNorthrim Banp(US:NRIM) Zacks Investment Researchยท2024-05-13 16:46

Company Overview - Northrim BanCorp (NRIM) is headquartered in Anchorage and operates in the Finance sector, with a year-to-date stock price change of -9.54% [3] - The company currently pays a dividend of $0.61 per share, resulting in a dividend yield of 4.72%, which is significantly higher than the Banks - West industry's yield of 3.33% and the S&P 500's yield of 1.58% [3] Dividend Performance - Northrim BanCorp's annualized dividend of $2.44 has increased by 1.7% from the previous year, and over the past five years, the company has raised its dividend five times, averaging an annual increase of 17.20% [4] - The current payout ratio for Northrim is 48%, indicating that the company distributes 48% of its trailing 12-month earnings per share as dividends [4] Earnings Growth Expectations - For the fiscal year 2024, the Zacks Consensus Estimate projects earnings of $5.61 per share for Northrim BanCorp, reflecting a year-over-year growth rate of 24.94% [5] Investment Appeal - Northrim BanCorp is positioned as an attractive investment opportunity due to its strong dividend yield and growth potential, alongside a strong Zacks Rank of 1 (Strong Buy) [7]