Bar Harbor Bankshares (NYSEAMERICAN:BHB) Increases Dividend to $0.32 Per Share

Bar Harbor Bankshares (NYSEAMERICAN:BHB) declared a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Stockholders of record on Thursday, May 15th will be paid a dividend of 0.32 per share by the financial services provider on Friday, June 13th. This represents a $1.28 annualized dividend and a dividend yield of 4.42%. The ex-dividend date is Thursday, May 15th. This is a 6.7% increase from Bar Harbor Bankshares’s previous quarterly dividend of $0.30.

Bar Harbor Bankshares has increased its dividend by an average of 7.9% per year over the last three years and has raised its dividend every year for the last 21 years. Bar Harbor Bankshares has a payout ratio of 37.2% indicating that its dividend is sufficiently covered by earnings. 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 Performance

Shares of Bar Harbor Bankshares stock opened at $28.98 on Monday. The business has a 50-day simple moving average of $30.42 and a 200 day simple moving average of $31.37. Bar Harbor Bankshares has a one year low of $24.48 and a one year high of $38.47. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $442.52 million, a price-to-earnings ratio of 10.17 and a beta of 0.72.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on Bar Harbor Bankshares from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, March 17th. StockNews.com assumed coverage on shares of Bar Harbor Bankshares in a research note on Saturday. They issued a “hold” rating on the stock.

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.