Bar Harbor Bankshares (NYSEAMERICAN:BHB) Declares Quarterly Dividend of $0.28

Bar Harbor Bankshares (NYSEAMERICAN:BHBGet Free Report) announced a quarterly dividend on Tuesday, January 16th, Wall Street Journal reports. Investors of record on Thursday, February 15th will be paid a dividend of 0.28 per share by the financial services provider on Friday, March 15th. This represents a $1.12 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Wednesday, February 14th.

Bar Harbor Bankshares has increased its dividend payment by an average of 7.7% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Bar Harbor Bankshares has a dividend payout ratio of 40.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bar Harbor Bankshares to earn $2.83 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 39.6%.

Bar Harbor Bankshares Trading Up 2.3 %

Shares of NYSEAMERICAN BHB opened at $25.57 on Monday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.91. Bar Harbor Bankshares has a 52 week low of $19.55 and a 52 week high of $31.43. The stock has a market capitalization of $387.64 million, a P/E ratio of 8.58 and a beta of 0.76.

Hedge Funds Weigh In On Bar Harbor Bankshares

Hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its holdings in shares of Bar Harbor Bankshares by 98.1% during the first quarter. American Century Companies Inc. now owns 71,543 shares of the financial services provider’s stock worth $1,828,000 after buying an additional 35,436 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Bar Harbor Bankshares during the first quarter worth about $972,000. State Street Corp grew its holdings in shares of Bar Harbor Bankshares by 9.9% during the first quarter. State Street Corp now owns 337,092 shares of the financial services provider’s stock worth $8,916,000 after buying an additional 30,417 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Bar Harbor Bankshares by 6.8% during the first quarter. The Manufacturers Life Insurance Company now owns 452,043 shares of the financial services provider’s stock worth $12,937,000 after buying an additional 28,851 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Bar Harbor Bankshares by 2.3% during the second quarter. FMR LLC now owns 1,103,143 shares of the financial services provider’s stock worth $28,527,000 after buying an additional 25,119 shares in the last quarter. 53.62% of the stock is currently owned by hedge funds and other institutional investors.

About Bar Harbor Bankshares

(Get Free Report)

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.

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Dividend History for Bar Harbor Bankshares (NYSEAMERICAN:BHB)

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