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

Bar Harbor Bankshares (NYSEAMERICAN:BHB) announced a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Thursday, February 20th.

Bar Harbor Bankshares has raised its dividend 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 payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bar Harbor Bankshares to earn $2.96 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 40.5%.

Bar Harbor Bankshares Stock Down 0.3 %

NYSEAMERICAN:BHB opened at $32.83 on Tuesday. The stock has a market capitalization of $501.31 million, a PE ratio of 11.52 and a beta of 0.72. 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 has a 1-year low of $23.26 and a 1-year high of $38.47.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $35.00 target price (up from $34.00) on shares of Bar Harbor Bankshares in a research report on Monday, January 27th.

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.