Bar Harbor Bankshares (BHB) To Go Ex-Dividend on May 15th

Bar Harbor Bankshares (NYSEAMERICAN:BHB) declared a dividend on Thursday, April 18th, NASDAQ reports. Investors 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 increased its dividend payment by an average of 7.7% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Bar Harbor Bankshares has a dividend 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 Trading Up 6.8 %

Shares of BHB stock opened at $25.48 on Friday. The stock has a market capitalization of $387.04 million, a PE ratio of 8.64 and a beta of 0.74. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98. Bar Harbor Bankshares has a one year low of $19.55 and a one year high of $30.37.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced 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. The company 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%. On average, sell-side analysts forecast that Bar Harbor Bankshares will post 2.75 EPS for the current year.

Hedge Funds Weigh In On Bar Harbor Bankshares

A number of large investors have recently modified their holdings of the company. Credit Suisse AG boosted its position in shares of Bar Harbor Bankshares by 3.0% in the fourth quarter. Credit Suisse AG now owns 11,188 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 325 shares during the period. Legal & General Group Plc boosted its position in shares of Bar Harbor Bankshares by 6.4% in the fourth quarter. Legal & General Group Plc now owns 5,469 shares of the financial services provider’s stock valued at $175,000 after acquiring an additional 330 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of Bar Harbor Bankshares by 65.5% in 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 acquiring an additional 395 shares during the period. MetLife Investment Management LLC boosted its position in shares of Bar Harbor Bankshares by 6.5% in the fourth quarter. MetLife Investment Management LLC now owns 8,070 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 489 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Bar Harbor Bankshares by 1.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 40,055 shares of the financial services provider’s stock valued at $987,000 after acquiring an additional 596 shares during the period. 54.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, TheStreet lowered shares of 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.