Bar Harbor Bankshares, Inc. (BHB) to Issue Quarterly Dividend of $0.34 on June 18th

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) announced a quarterly dividend on Tuesday, April 21st. Shareholders of record on Thursday, May 21st will be paid a dividend of 0.34 per share by the financial services provider on Thursday, June 18th. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, May 21st. This is a 6.3% increase from Bar Harbor Bankshares’s previous quarterly dividend of $0.32.

Bar Harbor Bankshares has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 22 years. Bar Harbor Bankshares has a dividend payout ratio of 39.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bar Harbor Bankshares to earn $3.96 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 32.3%.

Bar Harbor Bankshares Price Performance

Shares of NYSEAMERICAN:BHB opened at $34.22 on Tuesday. The business’s fifty day moving average price is $33.37 and its two-hundred day moving average price is $32.54. The stock has a market cap of $572.84 million, a PE ratio of 13.97 and a beta of 0.61. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.94 and a current ratio of 0.94. Bar Harbor Bankshares has a one year low of $28.06 and a one year high of $36.05.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. The firm had revenue of $47.29 billion for the quarter, compared to analysts’ expectations of $48.22 million. Bar Harbor Bankshares had a return on equity of 10.95% and a net margin of 15.90%. On average, analysts forecast that Bar Harbor Bankshares will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling at Bar Harbor Bankshares

In other Bar Harbor Bankshares news, Director Matthew L. Caras bought 760 shares of Bar Harbor Bankshares stock in a transaction that occurred on Tuesday, April 28th. The shares were acquired at an average price of $34.68 per share, for a total transaction of $26,356.80. Following the acquisition, the director owned 22,894 shares of the company’s stock, valued at $793,963.92. The trade was a 3.43% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.37% of the company’s stock.

Hedge Funds Weigh In On Bar Harbor Bankshares

Several hedge funds and other institutional investors have recently made changes to their positions in BHB. Russell Investments Group Ltd. acquired a new position in shares of Bar Harbor Bankshares during the 3rd quarter valued at $38,000. Clearstead Advisors LLC lifted its holdings in shares of Bar Harbor Bankshares by 192.6% during the 4th quarter. Clearstead Advisors LLC now owns 1,384 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 911 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Bar Harbor Bankshares during the 4th quarter valued at $48,000. CWM LLC lifted its holdings in shares of Bar Harbor Bankshares by 52.9% during the 4th quarter. CWM LLC now owns 1,778 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 615 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Bar Harbor Bankshares during the 1st quarter valued at $73,000. Institutional investors and hedge funds own 54.49% of the company’s stock.

About Bar Harbor Bankshares

Bar Harbor Bankshares, Inc is a bank holding company headquartered in Ellsworth, Maine, and the parent of Bar Harbor Bank & Trust. The company provides a full suite of commercial and consumer banking products and services, including deposit accounts, residential and commercial lending, wealth management, treasury and cash management, and online and mobile banking solutions. Its subsidiary, Bar Harbor Bank & Trust, operates branches across Maine and eastern New Hampshire, serving both individual and business clients with a focus on community banking relationships.

With roots tracing back to the late 19th century, Bar Harbor Bankshares has built its presence along the coast of Maine, extending from Casco Bay to Downeast communities, and into neighboring New Hampshire markets.