Bar Harbor Bankshares (NYSEAMERICAN:BHB) to Issue $0.30 Quarterly Dividend

Bar Harbor Bankshares (NYSEAMERICAN:BHB) declared a quarterly dividend on Thursday, July 18th, NASDAQ reports. Investors of record on Thursday, August 15th will be paid a dividend of 0.30 per share by the financial services provider on Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, August 15th.

Bar Harbor Bankshares has increased its dividend by an average of 7.7% annually over the last three years and has raised its dividend annually for the last 21 consecutive years. Bar Harbor Bankshares has a dividend payout ratio of 43.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bar Harbor Bankshares to earn $2.82 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 42.6%.

Bar Harbor Bankshares Trading Down 0.8 %

NYSEAMERICAN BHB traded down $0.24 on Friday, hitting $30.32. 36,491 shares of the stock were exchanged, compared to its average volume of 37,314. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.76. Bar Harbor Bankshares has a fifty-two week low of $23.16 and a fifty-two week high of $31.83. The stock has a market capitalization of $461.77 million, a PE ratio of 11.11 and a beta of 0.70.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. Bar Harbor Bankshares had a net margin of 19.51% and a return on equity of 10.05%. The company had revenue of $36.64 million during the quarter, compared to analysts’ expectations of $37.10 million. As a group, research analysts expect that Bar Harbor Bankshares will post 2.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Scott G. Toothaker acquired 4,476 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was bought at an average price of $25.82 per share, for a total transaction of $115,570.32. Following the transaction, the director now owns 45,000 shares in the company, valued at $1,161,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders bought 5,466 shares of company stock worth $140,534. 2.53% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and set a $28.00 price objective (down previously from $29.00) on shares of Bar Harbor Bankshares in a research report on Monday, April 22nd.

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.