Keefe, Bruyette & Woods Reaffirms Market Perform Rating for Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Keefe, Bruyette & Woods restated their market perform rating on shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) in a report released on Monday, Benzinga reports. The firm currently has a $28.00 target price on the financial services provider’s stock, down from their prior target price of $29.00.

Separately, TheStreet lowered Bar Harbor Bankshares from a b rating to a c+ rating in a research note on Monday, March 11th.

Bar Harbor Bankshares Stock Performance

NYSEAMERICAN:BHB opened at $25.79 on Monday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $391.75 million, a PE ratio of 9.38 and a beta of 0.74. Bar Harbor Bankshares has a one year low of $19.55 and a one year high of $30.37.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The firm had revenue of $36.64 million during the quarter, compared to analyst estimates of $37.10 million. Bar Harbor Bankshares had a return on equity of 10.17% and a net margin of 19.51%. Equities research analysts anticipate that Bar Harbor Bankshares will post 2.75 EPS for the current year.

Bar Harbor Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 16th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date 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 presently 40.73%.

Institutional Investors Weigh In On Bar Harbor Bankshares

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in shares of Bar Harbor Bankshares by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 807,635 shares of the financial services provider’s stock valued at $23,713,000 after purchasing an additional 21,856 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Bar Harbor Bankshares by 1.4% during the third quarter. Vanguard Group Inc. now owns 734,214 shares of the financial services provider’s stock valued at $17,349,000 after purchasing an additional 9,802 shares in the last quarter. Punch & Associates Investment Management Inc. grew its position in shares of Bar Harbor Bankshares by 0.9% during the third quarter. Punch & Associates Investment Management Inc. now owns 379,439 shares of the financial services provider’s stock valued at $8,966,000 after purchasing an additional 3,226 shares in the last quarter. North Star Investment Management Corp. grew its position in shares of Bar Harbor Bankshares by 0.7% during the fourth quarter. North Star Investment Management Corp. now owns 130,080 shares of the financial services provider’s stock valued at $3,819,000 after purchasing an additional 960 shares in the last quarter. Finally, Naples Global Advisors LLC grew its position in shares of Bar Harbor Bankshares by 6.1% during the fourth quarter. Naples Global Advisors LLC now owns 40,783 shares of the financial services provider’s stock valued at $1,197,000 after purchasing an additional 2,332 shares in the last quarter. Hedge funds and other institutional investors own 54.49% of the company’s stock.

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.