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

Key Points

• Bar Harbor Bankshares declared a quarterly dividend of $0.34 per share, payable December 18 to shareholders of record November 19. The dividend implies a $1.36 annualized payout and a 3.4% yield.
• The company has raised its dividend for 22 consecutive years, with a current payout ratio of 39.4%, indicating coverage by earnings.
• Bar Harbor Bankshares reported quarterly earnings of $1.04 per share, exceeding analysts’ $0.93 estimate, while revenue of $51.49 million also topped expectations. Shares rose 1.7% to $40.16.

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB - Get Free Report) declared a quarterly dividend on Thursday, October 22nd. Shareholders of record on Thursday, November 19th will be given a dividend of $0.34 per share by the financial services provider on Friday, December 18th. This represents a $1.36 annualized dividend and a yield of 3.4%. The ex-dividend date is Thursday, November 19th.

Bar Harbor Bankshares has increased 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 dividend payout ratio of 39.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bar Harbor Bankshares to earn $3.77 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 34.0%.

Bar Harbor Bankshares Stock Up 1.7%

Shares of BHB traded up $0.69 during mid-day trading on Friday, reaching $40.16. The company's stock had a trading volume of 7,506 shares, compared to its average volume of 108,061. The business has a fifty day moving average of $39.43 and a 200 day moving average of $37.52. The company has a market cap of $673.43 million, a price-to-earnings ratio of 13.58 and a beta of 0.63. Bar Harbor Bankshares has a 1 year low of $28.50 and a 1 year high of $41.12. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.51.

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.11. The business had revenue of $51.49 million for the quarter, compared to the consensus estimate of $50.17 million. Bar Harbor Bankshares had a return on equity of 11.41% and a net margin of 18.46%. As a group, analysts forecast that Bar Harbor Bankshares will post 3.60 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bar Harbor Bankshares

Hedge funds have recently bought and sold shares of the business. Community Financial Services Group LLC lifted its holdings in Bar Harbor Bankshares by 3.2% in the 3rd quarter. Community Financial Services Group LLC now owns 11,704 shares of the financial services provider's stock worth $455,000 after purchasing an additional 360 shares during the last quarter. Rockland Trust Co. grew its holdings in Bar Harbor Bankshares by 4.0% during the second quarter. Rockland Trust Co. now owns 18,481 shares of the financial services provider's stock valued at $698,000 after purchasing an additional 715 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Bar Harbor Bankshares by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 83,681 shares of the financial services provider's stock valued at $2,715,000 after purchasing an additional 753 shares during the period. Inspire Investing LLC raised its position in shares of Bar Harbor Bankshares by 5.0% in the first quarter. Inspire Investing LLC now owns 15,769 shares of the financial services provider's stock valued at $512,000 after purchasing an additional 757 shares during the period. Finally, Legal & General Group Plc bought a new position in shares of Bar Harbor Bankshares in the second quarter valued at approximately $61,000. 54.49% of the stock is owned by institutional investors and hedge funds.

Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares (NYSE American: BHB) is a bank holding company for Bar Harbor Bank & Trust, a community banking institution headquartered in Bar Harbor, Maine. The bank traces its roots to 1887 and serves individuals, families, businesses and nonprofit organizations through a network of banking offices and digital channels.

Bar Harbor Bank & Trust provides a range of financial services, including checking and savings accounts, certificates of deposit, consumer and residential lending, commercial loans, cash-management services and online and mobile banking.

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