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

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) declared a quarterly dividend on Thursday, October 22nd. Investors of record on Thursday, November 19th will be paid 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 dividend yield of 3.4%. The ex-dividend date is Thursday, November 19th.

Bar Harbor Bankshares has increased its dividend by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 22 years. Bar Harbor Bankshares has a dividend payout ratio of 39.4% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of NYSEAMERICAN:BHB traded up $0.71 on Friday, hitting $40.19. The company had a trading volume of 9,483 shares, compared to its average volume of 108,072. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The company has a market cap of $673.90 million, a PE ratio of 13.56 and a beta of 0.63. Bar Harbor Bankshares has a 52-week low of $28.50 and a 52-week high of $41.12. The business has a 50 day moving average of $39.43 and a 200 day moving average of $37.52.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its earnings results on Thursday, October 22nd. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. The firm had revenue of $51.49 million during the quarter, compared to analysts’ expectations of $50.17 million. Bar Harbor Bankshares had a net margin of 18.46% and a return on equity of 11.41%. As a group, equities analysts anticipate that Bar Harbor Bankshares will post 3.60 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BHB. Community Financial Services Group LLC grew its position in Bar Harbor Bankshares by 3.2% during the third quarter. Community Financial Services Group LLC now owns 11,704 shares of the financial services provider’s stock valued at $455,000 after acquiring an additional 360 shares during the period. Rockland Trust Co. increased its stake 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 worth $698,000 after acquiring an additional 715 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Bar Harbor Bankshares by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 83,681 shares of the financial services provider’s stock worth $2,715,000 after purchasing an additional 753 shares during the period. Inspire Investing LLC raised its holdings in shares of Bar Harbor Bankshares by 5.0% in the 1st quarter. Inspire Investing LLC now owns 15,769 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 757 shares during the period. Finally, Legal & General Group Plc purchased a new position in shares of Bar Harbor Bankshares in the 2nd quarter worth about $61,000. 54.49% of the stock is owned by hedge funds and other institutional investors.

About Bar Harbor Bankshares

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.