Bar Harbor Bankshares (NYSEAMERICAN:BHB) Plans Quarterly Dividend of $0.30

Bar Harbor Bankshares (NYSEAMERICAN:BHB) declared a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Investors of record on Thursday, February 20th will be given a dividend of 0.30 per share by the financial services provider on Thursday, March 20th. This represents a $1.20 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Thursday, February 20th.

Bar Harbor Bankshares has raised its dividend payment by an average of 7.9% annually over the last three years and has increased its dividend every year for the last 21 years. Bar Harbor Bankshares has a dividend payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Bar Harbor Bankshares to earn $2.80 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 42.9%.

Bar Harbor Bankshares Stock Performance

BHB stock opened at $31.10 on Friday. Bar Harbor Bankshares has a 52-week low of $23.26 and a 52-week high of $38.47. The company has a market cap of $474.90 million, a price-to-earnings ratio of 10.91 and a beta of 0.73. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.12. Bar Harbor Bankshares had a net margin of 18.99% and a return on equity of 9.66%. The business had revenue of $58.23 million during the quarter, compared to analyst estimates of $37.30 million. As a group, equities research analysts predict that Bar Harbor Bankshares will post 2.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their target price on shares of Bar Harbor Bankshares from $30.00 to $34.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides banking and nonbanking products and services primarily to consumers and businesses. It accepts various deposit products, including interest-bearing and non-interest-bearing demand accounts, savings accounts, time deposits, and money market deposit accounts, as well as certificates of deposit.