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

Bar Harbor Bankshares (NYSEAMERICAN:BHB) declared a quarterly dividend on Thursday, July 18th, NASDAQ reports. Stockholders 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 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Thursday, August 15th.

Bar Harbor Bankshares has raised its dividend by an average of 7.7% annually over the last three years and has increased its dividend every year for the last 21 years. Bar Harbor Bankshares has a dividend payout ratio of 43.2% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

NYSEAMERICAN BHB traded down $0.32 on Friday, reaching $30.24. The company had a trading volume of 36,491 shares, compared to its average volume of 37,314. The firm has a market cap of $460.56 million, a PE ratio of 11.03 and a beta of 0.70. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. Bar Harbor Bankshares has a 1-year low of $23.16 and a 1-year high of $31.83.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $36.64 million during the quarter, compared to analyst estimates of $37.10 million. Bar Harbor Bankshares had a net margin of 19.51% and a return on equity of 10.05%. Research analysts predict that Bar Harbor Bankshares will post 2.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Bar Harbor Bankshares

In related news, Director Scott G. Toothaker purchased 4,476 shares of the stock in a transaction on Thursday, May 30th. The shares were purchased at an average cost of $25.82 per share, with a total value of $115,570.32. Following the acquisition, the director now directly owns 45,000 shares in the company, valued at $1,161,900. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 5,466 shares of company stock valued at $140,534 in the last three months. 2.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $28.00 price target (down 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.