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

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) declared a quarterly dividend on Tuesday, July 21st. Investors of record on Thursday, August 20th will be paid a dividend of 0.34 per share by the financial services provider on Friday, September 18th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Thursday, August 20th.

Bar Harbor Bankshares has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 22 consecutive years. Bar Harbor Bankshares has a dividend payout ratio of 39.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bar Harbor Bankshares to earn $3.96 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 32.3%.

Bar Harbor Bankshares Trading Up 0.2%

Shares of BHB opened at $38.03 on Wednesday. Bar Harbor Bankshares has a 1-year low of $28.06 and a 1-year high of $39.67. The business’s 50-day moving average price is $36.36 and its 200 day moving average price is $34.43. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $636.62 million, a P/E ratio of 15.52 and a beta of 0.60.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm had revenue of $49.68 million for the quarter, compared to analysts’ expectations of $48.93 million. Bar Harbor Bankshares had a net margin of 15.90% and a return on equity of 10.95%. Analysts expect that Bar Harbor Bankshares will post 3.67 earnings per share for the current year.

Insider Activity at Bar Harbor Bankshares

In related news, Director Matthew L. Caras bought 760 shares of Bar Harbor Bankshares stock in a transaction that occurred on Tuesday, April 28th. The stock was purchased at an average cost of $34.68 per share, for a total transaction of $26,356.80. Following the acquisition, the director owned 22,894 shares in the company, valued at $793,963.92. This trade represents a 3.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Bar Harbor Bankshares

Hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Bar Harbor Bankshares by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,945 shares of the financial services provider’s stock worth $264,000 after buying an additional 390 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Bar Harbor Bankshares by 1.9% in the second quarter. Rhumbline Advisers now owns 23,420 shares of the financial services provider’s stock valued at $702,000 after purchasing an additional 446 shares in the last quarter. CWM LLC lifted its position in Bar Harbor Bankshares by 52.9% in the fourth quarter. CWM LLC now owns 1,778 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 615 shares during the period. Rockland Trust Co. boosted 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 buying an additional 715 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Bar Harbor Bankshares by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 83,681 shares of the financial services provider’s stock worth $2,715,000 after buying an additional 753 shares in the last quarter. 54.49% of the stock is currently owned by institutional investors.

Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares, Inc is a bank holding company headquartered in Ellsworth, Maine, and the parent of Bar Harbor Bank & Trust. The company provides a full suite of commercial and consumer banking products and services, including deposit accounts, residential and commercial lending, wealth management, treasury and cash management, and online and mobile banking solutions. Its subsidiary, Bar Harbor Bank & Trust, operates branches across Maine and eastern New Hampshire, serving both individual and business clients with a focus on community banking relationships.

With roots tracing back to the late 19th century, Bar Harbor Bankshares has built its presence along the coast of Maine, extending from Casco Bay to Downeast communities, and into neighboring New Hampshire markets.