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

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) declared a quarterly dividend on Tuesday, April 21st. Investors of record on Thursday, May 21st will be given a dividend of 0.34 per share by the financial services provider on Thursday, June 18th. This represents a c) annualized dividend and a 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 raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 22 consecutive years. Bar Harbor Bankshares has a payout ratio of 39.4% meaning its dividend is sufficiently covered by earnings. 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

NYSEAMERICAN BHB opened at $33.96 on Wednesday. The company has a market capitalization of $568.49 million, a PE ratio of 14.77 and a beta of 0.59. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 0.96. The business’s fifty day moving average is $33.19 and its 200 day moving average is $31.97. Bar Harbor Bankshares has a fifty-two week low of $28.06 and a fifty-two week high of $36.05.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.02. The company had revenue of $47.29 million for the quarter, compared to the consensus estimate of $48.22 million. Bar Harbor Bankshares had a return on equity of 10.48% and a net margin of 15.13%. Sell-side analysts predict that Bar Harbor Bankshares will post 3.6 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Piper Sandler lifted their target price on Bar Harbor Bankshares from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $36.50.

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.