Bar Harbor Bankshares (NYSEAMERICAN:BHB) Hits New 12-Month High – Should You Buy?

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) shares reached a new 52-week high on Friday . The stock traded as high as $36.07 and last traded at $36.23, with a volume of 33782 shares. The stock had previously closed at $35.46.

Analysts Set New Price Targets

Separately, Piper Sandler boosted their target price on shares of Bar Harbor Bankshares from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bar Harbor Bankshares currently has an average rating of “Hold” and a consensus target price of $36.50.

Bar Harbor Bankshares Price Performance

The company’s fifty day moving average price is $34.30 and its 200 day moving average price is $33.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $601.80 million, a price-to-earnings ratio of 14.67 and a beta of 0.61.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.86 by $0.02. Bar Harbor Bankshares had a net margin of 15.90% and a return on equity of 10.95%. The business had revenue of $47.29 billion during the quarter, compared to analyst estimates of $48.22 million. Equities research analysts expect that Bar Harbor Bankshares, Inc. will post 3.67 earnings per share for the current year.

Bar Harbor Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 21st will be issued a $0.34 dividend. This is a boost from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $1.36 annualized dividend and a dividend yield of 3.8%. Bar Harbor Bankshares’s dividend payout ratio (DPR) is presently 47.72%.

Insider Activity at Bar Harbor Bankshares

In other Bar Harbor Bankshares news, Director Matthew L. Caras purchased 760 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was acquired at an average cost of $34.68 per share, with a total value of $26,356.80. Following the acquisition, the director owned 22,894 shares of the company’s stock, valued at approximately $793,963.92. This represents a 3.43% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.37% of the company’s stock.

Institutional Trading of Bar Harbor Bankshares

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in Bar Harbor Bankshares in the 4th quarter valued at about $1,177,000. Rockland Trust Co. bought a new stake in Bar Harbor Bankshares in the 3rd quarter valued at about $459,000. LSV Asset Management lifted its position in Bar Harbor Bankshares by 24.7% in the 3rd quarter. LSV Asset Management now owns 92,550 shares of the financial services provider’s stock valued at $2,819,000 after purchasing an additional 18,336 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Bar Harbor Bankshares by 16.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 11,128 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 1,580 shares during the last quarter. Finally, Financial Planning Hawaii Inc. bought a new stake in Bar Harbor Bankshares in the 4th quarter valued at about $400,000. 54.49% of the stock is currently owned by institutional investors.

Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares, Inc is a bank holding company headquartered in Ellsworth, Maine, and the parent of Bar Harbor Bank & Trust. The company provides a full suite of commercial and consumer banking products and services, including deposit accounts, residential and commercial lending, wealth management, treasury and cash management, and online and mobile banking solutions. Its subsidiary, Bar Harbor Bank & Trust, operates branches across Maine and eastern New Hampshire, serving both individual and business clients with a focus on community banking relationships.

With roots tracing back to the late 19th century, Bar Harbor Bankshares has built its presence along the coast of Maine, extending from Casco Bay to Downeast communities, and into neighboring New Hampshire markets.