Bar Harbor Bankshares (NYSEAMERICAN:BHB) Plans Dividend Increase - $0.32 Per Share

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) declared a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Shareholders of record on Thursday, May 15th will be paid a dividend of 0.32 per share by the financial services provider on Friday, June 13th. This represents a $1.28 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend is Thursday, May 15th. This is a 6.7% increase from Bar Harbor Bankshares's previous quarterly dividend of $0.30.

Bar Harbor Bankshares has raised its dividend payment by an average of 7.9% per year over the last three years and has increased its dividend every year for the last 22 years. Bar Harbor Bankshares has a dividend payout ratio of 39.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bar Harbor Bankshares to earn $2.96 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 43.2%.

Bar Harbor Bankshares Stock Performance

NYSEAMERICAN BHB traded down $0.18 during trading hours on Wednesday, reaching $29.19. 47,247 shares of the company were exchanged, compared to its average volume of 41,022. The stock has a market capitalization of $445.73 million, a P/E ratio of 10.24 and a beta of 0.72. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.54. Bar Harbor Bankshares has a 1 year low of $24.48 and a 1 year high of $38.47. The business's 50 day simple moving average is $30.21 and its 200-day simple moving average is $31.32.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BHB shares. StockNews.com began coverage on shares of Bar Harbor Bankshares in a research report on Saturday. They set a "hold" rating for the company. Keefe, Bruyette & Woods cut their price objective on shares of Bar Harbor Bankshares from $35.00 to $33.00 and set a "market perform" rating for the company in a report on Monday.

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.