Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) Raises Dividend to $0.34 Per Share

Key Points

• Quarterly dividend raised to $0.34, a 6.3% increase from $0.32 (annualized $1.28) with a yield of about 4.0%; shareholders of record May 21 will be paid on June 18 (ex-dividend date May 21).
• Bar Harbor has raised its dividend for 22 consecutive years and the current payout ratio is 39.4% (analysts’ $3.90 EPS estimate for next year implies a projected payout ratio of ~32.8%); the company also reported a $0.88 EPS last quarter, beating estimates, and trades at a P/E of 14.77 with a market cap around $568M.

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB - Get Free Report) announced a quarterly dividend on Tuesday, April 21st. Shareholders 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 dividend yield of 4.0%. The ex-dividend date 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 increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 22 consecutive years. Bar Harbor Bankshares has a 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 Price Performance

Shares of NYSEAMERICAN BHB opened at $33.96 on Wednesday. The firm has a market capitalization of $568.49 million, a P/E ratio of 14.77 and a beta of 0.59. Bar Harbor Bankshares has a one year low of $28.06 and a one year high of $36.05. The company's fifty day moving average is $33.19 and its two-hundred day moving average is $31.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 0.96.

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.86 by $0.02. The company had revenue of $47.29 million for the quarter, compared to analyst estimates of $48.22 million. Bar Harbor Bankshares had a net margin of 15.13% and a return on equity of 10.48%. Analysts forecast that Bar Harbor Bankshares will post 3.6 EPS for the current fiscal year.

Bar Harbor Bankshares Company Profile

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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