Bar Harbor Bankshares (NYSEAMERICAN:BHB) Sets New 1-Year High – What’s Next?

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB)’s share price hit a new 52-week high on Tuesday . The company traded as high as $41.12 and last traded at $40.91, with a volume of 69422 shares changing hands. The stock had previously closed at $40.70.

Analyst Ratings Changes

A number of research firms have commented on BHB. Keefe, Bruyette & Woods lifted their target price on shares of Bar Harbor Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 22nd. Zacks Research downgraded Bar Harbor Bankshares from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $44.00 price objective (up from $41.00) on shares of Bar Harbor Bankshares in a report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.00.

Bar Harbor Bankshares Stock Up 0.5%

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 has a market cap of $686.06 million, a P/E ratio of 13.82 and a beta of 0.60. The company’s 50 day moving average price is $39.34 and its two-hundred day moving average price is $36.16.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Bar Harbor Bankshares had a net margin of 18.46% and a return on equity of 11.41%. The business had revenue of $49.68 million during the quarter, compared to analysts’ expectations of $49.32 million. Equities analysts forecast that Bar Harbor Bankshares, Inc. will post 3.6 earnings per share for the current year.

Bar Harbor Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Thursday, August 20th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Thursday, August 20th. Bar Harbor Bankshares’s dividend payout ratio is 47.72%.

Institutional Trading of Bar Harbor Bankshares

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Bar Harbor Bankshares in the second quarter worth about $61,092,000. The Manufacturers Life Insurance Company bought a new position in shares of Bar Harbor Bankshares during the 2nd quarter valued at approximately $14,061,000. Bank of New York Mellon Corp bought a new position in shares of Bar Harbor Bankshares during the 2nd quarter valued at approximately $3,291,000. Trust Co. of Vermont purchased a new stake in Bar Harbor Bankshares in the 2nd quarter worth approximately $2,885,000. Finally, Empowered Funds LLC purchased a new stake in Bar Harbor Bankshares in the 2nd quarter worth approximately $2,731,000. Institutional investors own 54.49% of the company’s stock.

Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares is the holding company for Bar Harbor Bank & Trust, a community banking organization headquartered in Bar Harbor, Maine. The bank provides financial services to individuals, families, businesses and nonprofit organizations through branches and digital banking channels.

Its products and services include checking and savings accounts, certificates of deposit, residential and commercial mortgages, consumer loans, business lending, cash-management services, online and mobile banking, and wealth management.