7,493 Shares in Bar Harbor Bankshares (NYSEAMERICAN:BHB) Bought by SlateStone Wealth LLC

SlateStone Wealth LLC purchased a new stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,493 shares of the financial services provider’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BHB. Brendel Financial Advisors LLC acquired a new stake in shares of Bar Harbor Bankshares in the fourth quarter valued at about $371,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Bar Harbor Bankshares in the fourth quarter valued at about $435,000. Carl P. Sherr & Co. LLC increased its position in shares of Bar Harbor Bankshares by 2.0% in the fourth quarter. Carl P. Sherr & Co. LLC now owns 21,108 shares of the financial services provider’s stock valued at $620,000 after acquiring an additional 409 shares during the last quarter. Sky Investment Group LLC bought a new position in Bar Harbor Bankshares during the fourth quarter worth about $238,000. Finally, First Bancorp Inc ME bought a new position in Bar Harbor Bankshares during the fourth quarter worth about $209,000. Institutional investors and hedge funds own 54.49% of the company’s stock.

Bar Harbor Bankshares Stock Performance

BHB traded up $0.07 during trading on Wednesday, reaching $25.35. 3,586 shares of the stock traded hands, compared to its average volume of 33,652. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $385.07 million, a P/E ratio of 9.17 and a beta of 0.74. Bar Harbor Bankshares has a 12 month low of $19.55 and a 12 month high of $30.37.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $36.64 million for the quarter, compared to analysts’ expectations of $37.10 million. Bar Harbor Bankshares had a net margin of 19.51% and a return on equity of 10.17%. As a group, analysts predict that Bar Harbor Bankshares will post 2.75 EPS for the current year.

Bar Harbor Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 16th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Wednesday, May 15th. This is a positive change from Bar Harbor Bankshares’s previous quarterly dividend of $0.22. Bar Harbor Bankshares’s dividend payout ratio is currently 40.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. TheStreet cut Bar Harbor Bankshares from a “b” rating to a “c+” rating in a report on Monday, March 11th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $28.00 price objective (down from $29.00) on shares of Bar Harbor Bankshares in a research report on Monday.

About Bar Harbor Bankshares

Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides banking and nonbanking products and services primarily to consumers and businesses. It accepts various deposit products, including interest-bearing and non-interest-bearing demand accounts, savings accounts, time deposits, and money market deposit accounts, as well as certificates of deposit.