Bar Harbor Bankshares (NYSEAMERICAN:BHB) Announces Dividend of $0.30

Bar Harbor Bankshares (NYSEAMERICAN:BHB) announced a dividend on Thursday, April 18th, NASDAQ reports. Stockholders of record on Thursday, May 16th will be paid a dividend of 0.30 per share by the financial services provider on Friday, June 14th. The ex-dividend date of this dividend is Wednesday, May 15th. This is a boost from Bar Harbor Bankshares’s previous dividend of $0.22.

Bar Harbor Bankshares has raised its dividend by an average of 7.7% annually over the last three years and has raised its dividend every year for the last 3 years. Bar Harbor Bankshares has a payout ratio of 40.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bar Harbor Bankshares to earn $2.83 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 39.6%.

Bar Harbor Bankshares Stock Up 6.8 %

Shares of Bar Harbor Bankshares stock traded up $1.62 on Friday, reaching $25.48. 44,136 shares of the company were exchanged, compared to its average volume of 33,781. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $387.04 million, a price-to-earnings ratio of 8.64 and a beta of 0.74. Bar Harbor Bankshares has a 1-year low of $19.55 and a 1-year high of $30.37.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. Bar Harbor Bankshares had a return on equity of 10.92% and a net margin of 21.36%. The firm had revenue of $36.64 million for the quarter, compared to analysts’ expectations of $37.10 million. Equities research analysts forecast that Bar Harbor Bankshares will post 2.75 earnings per share for the current year.

Institutional Trading of Bar Harbor Bankshares

Several hedge funds and other institutional investors have recently modified their holdings of BHB. Swiss National Bank raised its holdings in Bar Harbor Bankshares by 7.9% during the first quarter. Swiss National Bank now owns 35,500 shares of the financial services provider’s stock valued at $1,016,000 after buying an additional 2,600 shares in the last quarter. Bank of Montreal Can acquired a new stake in Bar Harbor Bankshares during the first quarter valued at approximately $972,000. MetLife Investment Management LLC boosted its holdings in Bar Harbor Bankshares by 43.5% during the first quarter. MetLife Investment Management LLC now owns 7,595 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 2,303 shares in the last quarter. BlackRock Inc. boosted its holdings in Bar Harbor Bankshares by 0.3% during the first quarter. BlackRock Inc. now owns 1,120,430 shares of the financial services provider’s stock valued at $32,068,000 after purchasing an additional 3,221 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in Bar Harbor Bankshares by 65.5% during the first quarter. Great West Life Assurance Co. Can now owns 998 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 395 shares in the last quarter. Institutional investors and hedge funds own 54.49% of the company’s stock.

Analysts Set New Price Targets

Separately, TheStreet cut Bar Harbor Bankshares from a “b” rating to a “c+” rating in a research report on Monday, March 11th.

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.