Bar Harbor Bankshares (NYSEAMERICAN:BHB) Hits New 52-Week High – Here’s Why

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB)’s stock price reached a new 52-week high on Wednesday. The stock traded as high as $42.89 and last traded at $42.08, with a volume of 5,507 shares traded. The stock had previously closed at $41.16.

Analyst Ratings Changes

A number of research firms have issued reports on BHB. Piper Sandler reaffirmed an “overweight” rating and issued a $44.00 price target (up from $41.00) on shares of Bar Harbor Bankshares in a report on Tuesday, July 28th. Zacks Research raised shares of Bar Harbor Bankshares from a “strong sell” rating to a “hold” rating in a report on Friday, September 25th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Bar Harbor Bankshares in a research report on Friday, October 23rd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.00.

Bar Harbor Bankshares Trading Down 2.9%

The stock has a 50-day moving average of $39.66 and a 200 day moving average of $36.57. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.51. The stock has a market cap of $692.10 million, a PE ratio of 12.21 and a beta of 0.62.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $1.04 EPS for the quarter, meeting the consensus estimate of $1.04. The business had revenue of $51.49 million during the quarter, compared to analysts’ expectations of $51.77 million. Bar Harbor Bankshares had a net margin of 20.95% and a return on equity of 11.69%. As a group, sell-side analysts anticipate that Bar Harbor Bankshares, Inc. will post 3.75 earnings per share for the current year.

Bar Harbor Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Thursday, November 19th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, November 19th. Bar Harbor Bankshares’s dividend payout ratio is presently 47.72%.

Hedge Funds Weigh In On Bar Harbor Bankshares

A number of institutional investors have recently modified their holdings of the stock. Eurizon Capital SGR S.p.A. lifted its stake in shares of Bar Harbor Bankshares by 7.4% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 3,755 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 260 shares during the period. Community Financial Services Group LLC grew its position in Bar Harbor Bankshares by 3.2% during the third quarter. Community Financial Services Group LLC now owns 11,704 shares of the financial services provider’s stock valued at $455,000 after buying an additional 360 shares during the period. Rockland Trust Co. grew its position in 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 buying an additional 715 shares during the period. Bank of New York Mellon Corp grew its position in 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 buying an additional 753 shares during the period. Finally, Legal & General Group Plc purchased a new position in Bar Harbor Bankshares in the second quarter valued at $61,000. Hedge funds and other institutional investors own 54.49% of the company’s stock.

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.