Bar Harbor Bankshares (NYSEAMERICAN:BHB) Issues Quarterly Earnings Results

Bar Harbor Bankshares (NYSEAMERICAN:BHB) posted its quarterly earnings results on Thursday. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11, FiscalAI reports. Bar Harbor Bankshares had a net margin of 18.46% and a return on equity of 11.41%. The business had revenue of $51.49 million during the quarter, compared to analyst estimates of $50.17 million.

Bar Harbor Bankshares Stock Up 2.1%

Bar Harbor Bankshares stock traded up $0.81 during mid-day trading on Thursday, hitting $39.47. The company had a trading volume of 74,873 shares, compared to its average volume of 108,572. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average price is $39.45 and its two-hundred day moving average price is $37.48. Bar Harbor Bankshares has a 12 month low of $28.50 and a 12 month high of $41.12. The company has a market capitalization of $661.91 million, a PE ratio of 13.33 and a beta of 0.63.

Analysts Set New Price Targets

Several analysts have weighed in on BHB shares. Keefe, Bruyette & Woods boosted their price objective on Bar Harbor Bankshares from $36.00 to $38.00 and gave the company a “market perform” rating in a research report on Wednesday, July 22nd. Piper Sandler reissued an “overweight” rating and set a $44.00 target price (up from $41.00) on shares of Bar Harbor Bankshares in a research note on Tuesday, July 28th. Finally, Zacks Research raised Bar Harbor Bankshares from a “strong sell” rating to a “hold” rating in a research report on Friday, September 25th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Bar Harbor Bankshares currently has an average rating of “Hold” and an average target price of $41.00.

Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares (NYSE American: BHB) is a bank holding company for Bar Harbor Bank & Trust, a community banking institution headquartered in Bar Harbor, Maine. The bank traces its roots to 1887 and serves individuals, families, businesses and nonprofit organizations through a network of banking offices and digital channels.

Bar Harbor Bank & Trust provides a range of financial services, including checking and savings accounts, certificates of deposit, consumer and residential lending, commercial loans, cash-management services and online and mobile banking.