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

Bar Harbor Bankshares (NYSEAMERICAN:BHB) declared a quarterly dividend on Tuesday, October 22nd, NASDAQ reports. Investors of record on Thursday, November 14th will be paid a dividend of 0.30 per share by the financial services provider on Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Thursday, November 14th.

Bar Harbor Bankshares has raised its dividend payment 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 44.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bar Harbor Bankshares to earn $2.75 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 43.6%.

Bar Harbor Bankshares Stock Up 8.3 %

Shares of BHB stock opened at $33.01 on Thursday. Bar Harbor Bankshares has a fifty-two week low of $23.18 and a fifty-two week high of $33.31. The stock has a market cap of $504.06 million, a P/E ratio of 12.18 and a beta of 0.68. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.89.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.12. Bar Harbor Bankshares had a return on equity of 9.72% and a net margin of 18.86%. The business had revenue of $58.23 million during the quarter, compared to analyst estimates of $37.30 million. On average, equities research analysts anticipate that Bar Harbor Bankshares will post 2.68 EPS for the current year.

Analyst Ratings Changes

Separately, Piper Sandler reiterated a “neutral” rating and issued a $33.00 price target on shares of Bar Harbor Bankshares in a research report on Thursday, September 5th.

Bar Harbor Bankshares Company Profile

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.