Bar Harbor Bankshares (NYSEAMERICAN:BHB) Price Target Raised to $38.00

Bar Harbor Bankshares (NYSEAMERICAN:BHB) had its price target raised by Keefe, Bruyette & Woods from $36.00 to $38.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Separately, Piper Sandler reiterated an “overweight” rating and issued a $41.00 price objective (up from $39.00) on shares of Bar Harbor Bankshares in a research report on Friday, June 26th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Bar Harbor Bankshares presently has an average rating of “Hold” and a consensus target price of $39.50.

Bar Harbor Bankshares Stock Performance

NYSEAMERICAN BHB opened at $39.02 on Wednesday. The company’s fifty day moving average is $36.64 and its two-hundred day moving average is $34.56. Bar Harbor Bankshares has a 52-week low of $28.06 and a 52-week high of $39.67. 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 firm has a market capitalization of $653.19 million, a price-to-earnings ratio of 13.18 and a beta of 0.60.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Bar Harbor Bankshares had a net margin of 18.46% and a return on equity of 11.51%. The business had revenue of $49.68 million during the quarter, compared to analysts’ expectations of $49.32 million. Equities research analysts forecast that Bar Harbor Bankshares will post 3.67 EPS for the current year.

Bar Harbor Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, August 20th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.36 dividend on an annualized basis and a yield of 3.5%. Bar Harbor Bankshares’s payout ratio is presently 47.72%.

Insider Transactions at Bar Harbor Bankshares

In other Bar Harbor Bankshares news, Director Matthew L. Caras purchased 760 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was purchased at an average price of $34.68 per share, with a total value of $26,356.80. Following the completion of the transaction, the director directly owned 22,894 shares of the company’s stock, valued at approximately $793,963.92. This trade represents a 3.43% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bar Harbor Bankshares

Large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Bar Harbor Bankshares by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,945 shares of the financial services provider’s stock valued at $264,000 after buying an additional 390 shares in the last quarter. Rhumbline Advisers raised its stake in Bar Harbor Bankshares by 1.9% during the second quarter. Rhumbline Advisers now owns 23,420 shares of the financial services provider’s stock worth $702,000 after acquiring an additional 446 shares in the last quarter. CWM LLC raised its stake in Bar Harbor Bankshares by 52.9% during the fourth quarter. CWM LLC now owns 1,778 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 615 shares in the last quarter. Rockland Trust Co. lifted its holdings in shares of Bar Harbor Bankshares by 4.0% during the second quarter. Rockland Trust Co. now owns 18,481 shares of the financial services provider’s stock valued at $698,000 after acquiring an additional 715 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Bar Harbor Bankshares by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 83,681 shares of the financial services provider’s stock valued at $2,715,000 after acquiring an additional 753 shares during the period. 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.