Bar Harbor Bankshares (NYSEAMERICAN:BHB) Sets New 12-Month High – What’s Next?

Bar Harbor Bankshares (NYSEAMERICAN:BHB) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $36.64 and last traded at $36.59, with a volume of 3436 shares. The stock had previously closed at $33.02.

Analyst Ratings Changes

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 Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $558.42 million, a price-to-earnings ratio of 12.86 and a beta of 0.67.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.12. The company had revenue of $58.23 million for the quarter, compared to analyst estimates of $37.30 million. Bar Harbor Bankshares had a net margin of 18.99% and a return on equity of 9.80%. On average, research analysts anticipate that Bar Harbor Bankshares will post 2.82 EPS for the current year.

Bar Harbor Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, November 14th. Bar Harbor Bankshares’s dividend payout ratio is currently 43.17%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Bar Harbor Bankshares in the 3rd quarter valued at $350,000. Thrivent Financial for Lutherans grew its holdings in Bar Harbor Bankshares by 196.1% in the third quarter. Thrivent Financial for Lutherans now owns 23,019 shares of the financial services provider’s stock worth $710,000 after purchasing an additional 15,245 shares during the period. Empowered Funds LLC increased its stake in Bar Harbor Bankshares by 5.2% in the third quarter. Empowered Funds LLC now owns 43,633 shares of the financial services provider’s stock valued at $1,346,000 after purchasing an additional 2,144 shares in the last quarter. Sky Investment Group LLC acquired a new position in shares of Bar Harbor Bankshares during the third quarter valued at about $216,000. Finally, Means Investment CO. Inc. boosted its position in shares of Bar Harbor Bankshares by 14.0% during the 3rd quarter. Means Investment CO. Inc. now owns 30,072 shares of the financial services provider’s stock worth $927,000 after purchasing an additional 3,685 shares in the last quarter. 54.49% of the stock is owned by institutional investors.

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.