Bar Harbor Bankshares (NYSEAMERICAN:BHB) Plans Quarterly Dividend of $0.30

Bar Harbor Bankshares (NYSEAMERICAN:BHB) announced a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Shareholders of record on Thursday, February 20th will be paid a dividend of 0.30 per share by the financial services provider on Thursday, March 20th. This represents a $1.20 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Thursday, February 20th.

Bar Harbor Bankshares has increased its dividend payment 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 dividend payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bar Harbor Bankshares to earn $2.80 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 42.9%.

Bar Harbor Bankshares Price Performance

NYSEAMERICAN BHB remained flat at $31.10 during mid-day trading on Friday. The company’s stock had a trading volume of 39,270 shares, compared to its average volume of 44,038. Bar Harbor Bankshares has a 12-month low of $23.26 and a 12-month high of $38.47. The firm has a market cap of $474.90 million, a price-to-earnings ratio of 11.19 and a beta of 0.73. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.12. Bar Harbor Bankshares had a net margin of 18.99% and a return on equity of 9.66%. The company had revenue of $58.23 million during the quarter, compared to the consensus estimate of $37.30 million. On average, analysts anticipate that Bar Harbor Bankshares will post 2.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their target price on Bar Harbor Bankshares from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

About Bar Harbor Bankshares

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.