Bar Harbor Bankshares (NYSEAMERICAN:BHB – Get Rating) declared a quarterly dividend on Monday, January 23rd, Wall Street Journal reports. Shareholders of record on Thursday, February 16th will be paid a dividend of 0.26 per share by the financial services provider on Thursday, March 16th. This represents a $1.04 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Wednesday, February 15th.
Bar Harbor Bankshares has raised its dividend by an average of 5.9% annually over the last three years and has raised its dividend every year for the last 2 years. Bar Harbor Bankshares has a payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bar Harbor Bankshares to earn $3.16 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 32.9%.
Bar Harbor Bankshares Stock Performance
Shares of BHB opened at $30.09 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.66. The firm has a market cap of $453.34 million, a PE ratio of 10.41 and a beta of 0.83. The firm has a fifty day moving average price of $28.36. Bar Harbor Bankshares has a 1 year low of $24.00 and a 1 year high of $33.11.
Wall Street Analyst Weigh In
Institutional Investors Weigh In On Bar Harbor Bankshares
Several large investors have recently added to or reduced their stakes in BHB. Great West Life Assurance Co. Can boosted its position in shares of Bar Harbor Bankshares by 65.5% in 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 period. Captrust Financial Advisors raised its stake in shares of Bar Harbor Bankshares by 172.7% in the 2nd quarter. Captrust Financial Advisors now owns 4,211 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 2,667 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Bar Harbor Bankshares by 56.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,777 shares of the financial services provider’s stock worth $124,000 after buying an additional 1,715 shares during the period. BNP Paribas Arbitrage SNC increased its position in Bar Harbor Bankshares by 63.2% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 7,796 shares of the financial services provider’s stock worth $207,000 after buying an additional 3,019 shares during the period. Finally, Hsbc Holdings PLC bought a new position in Bar Harbor Bankshares in the 1st quarter worth approximately $210,000. 52.24% of the stock is owned by institutional investors and hedge funds.
Bar Harbor Bankshares Company Profile
Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides commercial, lending, retail, and wealth management banking services. 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.
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