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

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) declared a quarterly dividend on Tuesday, April 21st. Investors 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) annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend 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 by an average of 0.1%annually over the last three years and has increased 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 $3.90 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 32.8%.

Bar Harbor Bankshares Trading Down 1.6%

Shares of BHB stock opened at $33.96 on Wednesday. The firm has a 50-day moving average price of $33.19 and a 200 day moving average price of $31.97. Bar Harbor Bankshares has a twelve month low of $28.06 and a twelve month high of $36.05. The company has a market capitalization of $568.49 million, a price-to-earnings ratio of 14.77 and a beta of 0.59. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.02. Bar Harbor Bankshares had a net margin of 15.13% and a return on equity of 10.48%. The firm had revenue of $47.29 million during the quarter, compared to the consensus estimate of $48.22 million. Research analysts forecast that Bar Harbor Bankshares will post 3.6 earnings per share for the current fiscal year.

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.