Bar Harbor Bankshares (NYSEAMERICAN:BHB) Reaches New 1-Year High – Here’s Why

Bar Harbor Bankshares (NYSEAMERICAN:BHB)’s stock price reached a new 52-week high on Monday . The stock traded as high as $33.41 and last traded at $33.14, with a volume of 6985 shares. The stock had previously closed at $32.41.

Analysts Set New Price Targets

Separately, Piper Sandler reissued a “neutral” rating and set a $33.00 price target on shares of Bar Harbor Bankshares in a report on Thursday, September 5th.

Bar Harbor Bankshares Trading Up 2.0 %

The stock has a market capitalization of $504.83 million, a price-to-earnings ratio of 11.96 and a beta of 0.68. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.89.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.12. Bar Harbor Bankshares had a return on equity of 9.72% and a net margin of 18.86%. The firm had revenue of $58.23 million for the quarter, compared to analyst estimates of $37.30 million. On average, analysts forecast that Bar Harbor Bankshares will post 2.68 earnings per share for the current fiscal year.

Bar Harbor Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.63%. Bar Harbor Bankshares’s payout ratio is 44.28%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in shares of Bar Harbor Bankshares by 91.1% in the first quarter. BNP Paribas Financial Markets now owns 7,191 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 3,429 shares in the last quarter. Bailard Inc. grew its holdings in shares of Bar Harbor Bankshares by 118.3% in the second quarter. Bailard Inc. now owns 18,821 shares of the financial services provider’s stock valued at $506,000 after acquiring an additional 10,200 shares in the last quarter. SlateStone Wealth LLC bought a new position in shares of Bar Harbor Bankshares in the second quarter valued at approximately $201,000. Bank of New York Mellon Corp grew its holdings in shares of Bar Harbor Bankshares by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 94,240 shares of the financial services provider’s stock valued at $2,533,000 after acquiring an additional 3,202 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Bar Harbor Bankshares by 7.8% in the first quarter. Empowered Funds LLC now owns 38,609 shares of the financial services provider’s stock valued at $1,022,000 after acquiring an additional 2,800 shares in the last quarter. 54.49% 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 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.