Bar Harbor Wealth Management Has $13.01 Million Position in Bar Harbor Bankshares, Inc. $BHB

Bar Harbor Wealth Management trimmed its stake in shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) by 4.7% in the first quarter, Holdings Channel.com reports. The firm owned 400,931 shares of the financial services provider’s stock after selling 19,752 shares during the quarter. Bar Harbor Wealth Management’s holdings in Bar Harbor Bankshares were worth $13,010,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BHB. Russell Investments Group Ltd. acquired a new stake in Bar Harbor Bankshares in the third quarter valued at approximately $38,000. Clearstead Advisors LLC grew its stake in shares of Bar Harbor Bankshares by 192.6% during the fourth quarter. Clearstead Advisors LLC now owns 1,384 shares of the financial services provider’s stock worth $43,000 after buying an additional 911 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Bar Harbor Bankshares during the fourth quarter worth $48,000. CWM LLC increased its holdings in shares of 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 buying an additional 615 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Bar Harbor Bankshares during the 1st quarter valued at $73,000. Institutional investors own 54.49% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler upped their target price on Bar Harbor Bankshares from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.50.

Insider Transactions at Bar Harbor Bankshares

In other news, Director Matthew L. Caras bought 760 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were acquired at an average price of $34.68 per share, for a total transaction of $26,356.80. Following the completion of the acquisition, the director directly owned 22,894 shares in the company, valued at approximately $793,963.92. This represents a 3.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.37% of the stock is currently owned by insiders.

Bar Harbor Bankshares Stock Performance

Shares of BHB stock opened at $37.33 on Wednesday. The stock has a market capitalization of $624.90 million, a PE ratio of 15.24 and a beta of 0.61. The business’s 50 day simple moving average is $35.07 and its 200 day simple moving average is $33.62. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.94 and a quick ratio of 0.94. Bar Harbor Bankshares, Inc. has a one year low of $28.06 and a one year high of $37.41.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.02. The firm had revenue of $47.29 billion during the quarter, compared to analyst estimates of $48.22 million. Bar Harbor Bankshares had a net margin of 15.90% and a return on equity of 10.95%. As a group, research analysts forecast that Bar Harbor Bankshares, Inc. will post 3.67 earnings per share for the current year.

Bar Harbor Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 21st were paid a dividend of $0.34 per share. This is a boost from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, May 21st. Bar Harbor Bankshares’s payout ratio is 47.72%.

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.