Coston McIsaac & Partners Acquires 34,771 Shares of Bar Harbor Bankshares, Inc. $BHB

Coston McIsaac & Partners lifted its holdings in shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) by 85.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,289 shares of the financial services provider’s stock after acquiring an additional 34,771 shares during the quarter. Coston McIsaac & Partners owned 0.45% of Bar Harbor Bankshares worth $2,443,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of Bar Harbor Bankshares during the 4th quarter worth $1,177,000. LSV Asset Management grew its position in Bar Harbor Bankshares by 18.3% during the fourth quarter. LSV Asset Management now owns 109,450 shares of the financial services provider’s stock valued at $3,398,000 after buying an additional 16,900 shares during the period. CWM LLC increased its holdings in 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 during the last quarter. Rockland Trust Co. increased its holdings in Bar Harbor Bankshares by 17.9% during the fourth quarter. Rockland Trust Co. now owns 17,766 shares of the financial services provider’s stock worth $552,000 after buying an additional 2,700 shares during the last quarter. Finally, Financial Planning Hawaii Inc. bought a new stake in Bar Harbor Bankshares in the fourth quarter worth about $400,000. 54.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reiterated an “overweight” rating and issued a $41.00 target price (up from $39.00) on shares of Bar Harbor Bankshares in a research note on Friday. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Bar Harbor Bankshares has an average rating of “Hold” and a consensus price target of $37.50.

Bar Harbor Bankshares Stock Performance

Shares of BHB opened at $39.07 on Monday. The firm has a market cap of $654.03 million, a PE ratio of 15.95 and a beta of 0.61. The stock’s fifty day moving average price is $35.26 and its two-hundred day moving average price is $33.77. 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 1 year low of $28.06 and a 1 year high of $39.67.

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

Bar Harbor Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, May 21st were given 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 3.5%. The ex-dividend date was Thursday, May 21st. Bar Harbor Bankshares’s dividend payout ratio (DPR) is 47.72%.

Insiders Place Their Bets

In other Bar Harbor Bankshares news, Director Matthew L. Caras bought 760 shares of Bar Harbor Bankshares stock in a transaction dated Tuesday, April 28th. The stock was purchased at an average price of $34.68 per share, for a total transaction of $26,356.80. Following the completion of the purchase, the director directly owned 22,894 shares of the company’s stock, valued at approximately $793,963.92. This trade represents a 3.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 3.37% of the stock is owned by corporate insiders.

About Bar Harbor Bankshares

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.