Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Bar Harbor Bankshares (BHB)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$63.55 - $213.75$103.93
Multi-Stage$42.29 - $46.16$44.19
Blended Fair Value$74.06
Current Price$30.46
Upside143.14%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS5.88%12.74%1.141.060.980.900.860.860.780.740.420.39
YoY Growth--7.38%8.03%8.97%4.88%0.38%9.70%5.90%74.93%8.89%12.64%
Dividend Yield--3.87%4.14%3.72%3.15%2.92%4.96%2.95%2.66%1.27%1.75%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)36.16
(-) Cash Dividends Paid (M)19.56
(=) Cash Retained (M)16.59
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)7.234.522.71
Cash Retained (M)16.5916.5916.59
(-) Cash Required (M)-7.23-4.52-2.71
(=) Excess Retained (M)9.3612.0713.88
(/) Shares Outstanding (M)15.6015.6015.60
(=) Excess Retained per Share0.600.770.89
LTM Dividend per Share1.251.251.25
(+) Excess Retained per Share0.600.770.89
(=) Adjusted Dividend1.852.032.14
WACC / Discount Rate8.58%8.58%8.58%
Growth Rate5.50%6.50%7.50%
Fair Value$63.55$103.93$213.75
Upside / Downside108.64%241.21%601.75%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)36.1638.5141.0143.6846.5149.5451.02
Payout Ratio54.11%61.28%68.46%75.64%82.82%90.00%92.50%
Projected Dividends (M)19.5623.6028.0833.0438.5244.5847.20

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.58%8.58%8.58%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)21.5321.7321.94
Year 2 PV (M)23.3723.8224.27
Year 3 PV (M)25.0925.8126.54
Year 4 PV (M)26.6927.7228.77
Year 5 PV (M)28.1829.5430.96
PV of Terminal Value (M)534.83560.66587.48
Equity Value (M)659.70689.28719.96
Shares Outstanding (M)15.6015.6015.60
Fair Value$42.29$44.19$46.16
Upside / Downside38.84%45.07%51.53%

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