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

Bar Harbor Bankshares (NYSEAMERICAN:BHB) declared a dividend on Thursday, April 18th, NASDAQ reports. Stockholders of record on Thursday, May 16th will be given 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% per year over the last three years and has increased 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 research 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 traded hands, compared to its average volume of 33,781. Bar Harbor Bankshares has a 52 week low of $19.55 and a 52 week high of $30.37. The company has a market capitalization of $387.04 million, a P/E ratio of 8.64 and a beta of 0.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77.

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

Institutional Trading of Bar Harbor Bankshares

Several institutional investors and hedge funds have recently made changes to their positions in BHB. Swiss National Bank raised its position in shares of Bar Harbor Bankshares by 7.9% during the 1st 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 bought a new position in shares of Bar Harbor Bankshares during the 1st quarter valued at $972,000. MetLife Investment Management LLC grew its holdings in shares of Bar Harbor Bankshares by 43.5% during the 1st 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 during the last quarter. BlackRock Inc. grew its holdings in shares of Bar Harbor Bankshares by 0.3% during the 1st 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 during the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Bar Harbor Bankshares by 65.5% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 54.49% of the company’s stock.

Analysts Set New Price Targets

Separately, TheStreet cut shares of Bar Harbor Bankshares from a “b” rating to a “c+” rating in a research note 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.