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

Key Points

• Bar Harbor Bankshares declared a quarterly dividend of $0.34 per share. Shareholders of record on August 20 will be paid on September 18, and the dividend implies a 3.6% yield.
• The company has a strong dividend track record, having raised its dividend annually for 22 consecutive years. Its payout ratio is 39.4%, suggesting the dividend is well covered by earnings.
• Recent results were solid, with Q2 EPS of $0.92 beating expectations of $0.90 and revenue of $49.68 million topping estimates. Analysts expect the bank to earn $3.67 per share for the current fiscal year.

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB - Get Free Report) announced a quarterly dividend on Tuesday, July 21st. Shareholders of record on Thursday, August 20th will be paid a dividend of 0.34 per share by the financial services provider on Friday, September 18th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Thursday, August 20th.

Bar Harbor Bankshares has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 22 consecutive years. Bar Harbor Bankshares has a payout ratio of 39.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bar Harbor Bankshares to earn $3.96 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 32.3%.

Bar Harbor Bankshares Price Performance

BHB stock opened at $38.03 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.94 and a current ratio of 0.94. Bar Harbor Bankshares has a 1 year low of $28.06 and a 1 year high of $39.67. The stock's 50 day moving average price is $36.36 and its 200 day moving average price is $34.43. The firm has a market cap of $636.62 million, a P/E ratio of 15.52 and a beta of 0.60.

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. Bar Harbor Bankshares had a return on equity of 10.95% and a net margin of 15.90%.The firm had revenue of $49.68 million during the quarter, compared to analysts' expectations of $48.93 million. On average, sell-side analysts expect that Bar Harbor Bankshares will post 3.67 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.

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