Bar Harbor Bankshares (NYSEAMERICAN:BHB) Announces Quarterly Dividend of $0.32

Bar Harbor Bankshares (NYSEAMERICAN:BHB) declared a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Stockholders of record on Thursday, May 15th will be paid a dividend of 0.32 per share by the financial services provider on Friday, June 13th. This represents a $1.28 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend 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 raised its dividend payment by an average of 7.9% annually 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 37.2% meaning 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 $1.20 annual dividend with an expected future payout ratio of 40.5%.

Bar Harbor Bankshares Stock Performance

NYSEAMERICAN BHB opened at $28.98 on Monday. The firm’s 50 day simple moving average is $30.42 and its 200 day simple moving average is $31.37. The firm has a market capitalization of $442.52 million, a price-to-earnings ratio of 10.17 and a beta of 0.72. 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 has a 1 year low of $24.48 and a 1 year high of $38.47.

Analysts Set New Price Targets

Several analysts recently weighed in on BHB shares. Keefe, Bruyette & Woods raised their price objective on Bar Harbor Bankshares from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, March 17th. StockNews.com assumed coverage on shares of Bar Harbor Bankshares in a research note on Saturday. They issued a “hold” rating on the stock.

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.