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

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) announced a quarterly dividend on Thursday, October 22nd. Investors of record on Thursday, November 19th will be given a dividend of $0.34 per share by the financial services provider on Friday, December 18th. This represents a $1.36 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, November 19th.

Bar Harbor Bankshares has raised its dividend 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% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bar Harbor Bankshares to earn $3.77 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 34.0%.

Bar Harbor Bankshares Stock Performance

BHB stock traded up $0.99 during trading on Friday, reaching $40.46. The stock had a trading volume of 104,465 shares, compared to its average volume of 98,408. The firm has a market cap of $678.51 million, a PE ratio of 11.97 and a beta of 0.63. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average is $39.43 and its two-hundred day moving average is $37.54. Bar Harbor Bankshares has a 52 week low of $28.50 and a 52 week high of $41.12.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Bar Harbor Bankshares had a return on equity of 11.69% and a net margin of 20.95%. The business had revenue of $51.49 million during the quarter, compared to the consensus estimate of $50.97 million. As a group, equities analysts anticipate that Bar Harbor Bankshares will post 3.60 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Bar Harbor Bankshares during the 2nd quarter valued at approximately $61,092,000. Dimensional Fund Advisors LP lifted its holdings in Bar Harbor Bankshares by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 892,121 shares of the financial services provider’s stock worth $28,949,000 after purchasing an additional 16,153 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Bar Harbor Bankshares by 11.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 374,639 shares of the financial services provider’s stock worth $12,157,000 after purchasing an additional 38,274 shares during the period. Renaissance Technologies LLC boosted its stake in Bar Harbor Bankshares by 52.3% in the 1st quarter. Renaissance Technologies LLC now owns 184,284 shares of the financial services provider’s stock worth $5,980,000 after purchasing an additional 63,300 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Bar Harbor Bankshares in the 2nd quarter worth approximately $3,291,000. Institutional investors own 54.49% of the company’s stock.

About Bar Harbor Bankshares

Bar Harbor Bankshares (NYSE American: BHB) is a bank holding company for Bar Harbor Bank & Trust, a community banking institution headquartered in Bar Harbor, Maine. The bank traces its roots to 1887 and serves individuals, families, businesses and nonprofit organizations through a network of banking offices and digital channels.

Bar Harbor Bank & Trust provides a range of financial services, including checking and savings accounts, certificates of deposit, consumer and residential lending, commercial loans, cash-management services and online and mobile banking.