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

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) declared a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Investors of record on Thursday, May 15th will be given a dividend of 0.32 per share by the financial services provider on Friday, June 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.40%. 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% annually over the last three years and has increased its dividend every year for the last 22 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 $2.96 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 43.2%.

Bar Harbor Bankshares Stock Performance

BHB traded down $0.58 during trading on Friday, hitting $29.11. The company's stock had a trading volume of 38,375 shares, compared to its average volume of 41,024. The business's 50 day simple moving average is $30.09 and its 200-day simple moving average is $31.33. The firm has a market cap of $444.51 million, a PE ratio of 10.21 and a beta of 0.72. Bar Harbor Bankshares has a one year low of $24.48 and a one year high of $38.47. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.54.

Analysts Set New Price Targets

A number of analysts have commented on the company. Keefe, Bruyette & Woods reduced their price target on Bar Harbor Bankshares from $35.00 to $33.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. StockNews.com initiated coverage on shares of Bar Harbor Bankshares in a research note on Saturday. They set 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.