Bar Harbor Bankshares (NYSEAMERICAN:BHB) Sees Unusually-High Trading Volume – Here’s Why

Bar Harbor Bankshares (NYSEAMERICAN:BHB) shares saw strong trading volume on Tuesday . 25,135 shares were traded during trading, a decline of 31% from the previous session’s volume of 36,660 shares.The stock last traded at $36.00 and had previously closed at $36.03.

Analyst Upgrades and Downgrades

BHB has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their price objective on shares of Bar Harbor Bankshares from $30.00 to $34.00 and gave the company a “market perform” rating in a research note on Wednesday. Piper Sandler reissued a “neutral” rating and set a $33.00 price target on shares of Bar Harbor Bankshares in a research report on Thursday, September 5th.

Bar Harbor Bankshares Stock Up 1.4 %

The firm has a market cap of $549.11 million, a price-to-earnings ratio of 12.94 and a beta of 0.69. 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 (NYSEAMERICAN:BHB) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.68 by $0.12. Bar Harbor Bankshares had a net margin of 18.99% and a return on equity of 9.66%. The firm had revenue of $58.23 million for the quarter, compared to analysts’ expectations of $37.30 million. Equities analysts anticipate that Bar Harbor Bankshares will post 2.82 EPS for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

The business also recently disclosed 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 of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.34%. Bar Harbor Bankshares’s dividend payout ratio (DPR) is 43.17%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BHB. SlateStone Wealth LLC purchased a new stake in shares of Bar Harbor Bankshares in the second quarter worth about $201,000. Janus Henderson Group PLC purchased a new position in shares of Bar Harbor Bankshares during the third quarter worth $203,000. Camden National Bank purchased a new position in Bar Harbor Bankshares in the third quarter valued at $214,000. Moors & Cabot Inc. purchased a new stake in Bar Harbor Bankshares during the 3rd quarter worth about $214,000. Finally, Sky Investment Group LLC purchased a new stake in Bar Harbor Bankshares during the 3rd quarter worth about $216,000. Institutional investors own 54.49% of the company’s stock.

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.