17,996 Shares in Bar Harbor Bankshares, Inc. $BHB Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC bought a new stake in shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,996 shares of the financial services provider’s stock, valued at approximately $559,000. Hsbc Holdings PLC owned 0.11% of Bar Harbor Bankshares at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BHB. International Assets Investment Management LLC bought a new stake in shares of Bar Harbor Bankshares during the 4th quarter valued at $1,177,000. LSV Asset Management lifted its position in Bar Harbor Bankshares by 18.3% during the fourth quarter. LSV Asset Management now owns 109,450 shares of the financial services provider’s stock valued at $3,398,000 after purchasing an additional 16,900 shares in the last quarter. Corient Private Wealth LLC bought a new stake in Bar Harbor Bankshares during the fourth quarter valued at about $206,000. HM Payson & Co. increased its position in Bar Harbor Bankshares by 184.4% in the fourth quarter. HM Payson & Co. now owns 4,550 shares of the financial services provider’s stock worth $141,000 after buying an additional 2,950 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Bar Harbor Bankshares in the fourth quarter worth about $112,000. 54.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bar Harbor Bankshares

In other news, Director Matthew L. Caras bought 760 shares of Bar Harbor Bankshares stock in a transaction dated Tuesday, April 28th. The shares were purchased at an average cost of $34.68 per share, with a total value of $26,356.80. Following the completion of the acquisition, the director owned 22,894 shares of the company’s stock, valued at $793,963.92. This trade represents a 3.43% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Piper Sandler reiterated an “overweight” rating and set a $41.00 price objective (up from $39.00) on shares of Bar Harbor Bankshares in a research note on Friday, June 26th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Bar Harbor Bankshares currently has a consensus rating of “Hold” and an average target price of $37.50.

Bar Harbor Bankshares Trading Up 3.1%

Bar Harbor Bankshares stock opened at $39.08 on Friday. Bar Harbor Bankshares, Inc. has a 1 year low of $28.06 and a 1 year high of $39.67. The firm’s 50 day moving average price is $36.15 and its 200-day moving average price is $34.29. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $654.20 million, a P/E ratio of 15.95 and a beta of 0.60.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The firm had revenue of $47.29 billion during the quarter, compared to analyst estimates of $48.22 million. Bar Harbor Bankshares had a net margin of 15.90% and a return on equity of 10.95%. On average, equities analysts predict that Bar Harbor Bankshares, Inc. will post 3.67 earnings per share for the current fiscal year.

Bar Harbor Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.34 per share. This is a boost from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $1.36 annualized dividend and a dividend yield of 3.5%. Bar Harbor Bankshares’s payout ratio is currently 47.72%.

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.