Bar Harbor Bankshares (NYSEAMERICAN:BHB) Stock Rating Lowered by Zacks Research

Bar Harbor Bankshares (NYSEAMERICAN:BHB) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research analysts have also commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of 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 reiterated an “overweight” rating and issued a $44.00 price objective (up from $41.00) on shares of Bar Harbor Bankshares in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $41.00.

Bar Harbor Bankshares Price Performance

BHB stock opened at $39.71 on Tuesday. The firm has a 50 day moving average of $36.96 and a 200-day moving average of $34.75. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.40. Bar Harbor Bankshares has a 12 month low of $28.06 and a 12 month high of $40.61. The firm has a market capitalization of $664.75 million, a P/E ratio of 13.42 and a beta of 0.60.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $49.68 billion during the quarter, compared to analysts’ expectations of $49.32 million. Bar Harbor Bankshares had a net margin of 18.46% and a return on equity of 11.51%. As a group, sell-side analysts predict that Bar Harbor Bankshares will post 3.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bar Harbor Bankshares

A number of hedge funds and other institutional investors have recently bought and sold shares of BHB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 worth $264,000 after buying an additional 390 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Bar Harbor Bankshares by 1.9% during the 2nd quarter. Rhumbline Advisers now owns 23,420 shares of the financial services provider’s stock worth $702,000 after acquiring an additional 446 shares during the last quarter. CWM LLC lifted its holdings in shares of Bar Harbor Bankshares by 52.9% during the 4th quarter. CWM LLC now owns 1,778 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 615 shares during the last quarter. Rockland Trust Co. grew its position in Bar Harbor Bankshares by 4.0% in the second quarter. Rockland Trust Co. now owns 18,481 shares of the financial services provider’s stock worth $698,000 after acquiring an additional 715 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Bar Harbor Bankshares by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 83,681 shares of the financial services provider’s stock worth $2,715,000 after acquiring an additional 753 shares in the last quarter. Hedge funds and other institutional investors own 54.49% of the company’s stock.

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.