Bar Harbor Bankshares, Inc. Plans Quarterly Dividend of $0.34 (NYSEAMERICAN:BHB)

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) announced a quarterly dividend on Tuesday, July 21st. Investors of record on Thursday, August 20th will be paid a dividend of 0.34 per share by the financial services provider on Friday, September 18th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Thursday, August 20th.

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 annually for the last 22 consecutive years. Bar Harbor Bankshares has a dividend payout ratio of 39.4% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Bar Harbor Bankshares stock opened at $38.03 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.40. The stock has a market cap of $636.62 million, a PE ratio of 15.52 and a beta of 0.60. Bar Harbor Bankshares has a 12-month low of $28.06 and a 12-month high of $39.67. The business’s 50-day moving average price is $36.36 and its two-hundred day moving average price is $34.43.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $49.68 million for the quarter, compared to the consensus estimate of $48.93 million. Bar Harbor Bankshares had a net margin of 15.90% and a return on equity of 10.95%. As a group, analysts expect that Bar Harbor Bankshares will post 3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Piper Sandler restated an “overweight” rating and issued a $41.00 target price (up from $39.00) on shares of Bar Harbor Bankshares in a research report on Friday, June 26th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.50.

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.