Bar Harbor Bankshares (NYSEAMERICAN:BHB) Reaches New 12-Month High – What’s Next?

Bar Harbor Bankshares (NYSEAMERICAN:BHB) hit a new 52-week high on Wednesday . The stock traded as high as $36.64 and last traded at $36.59, with a volume of 3436 shares changing hands. The stock had previously closed at $33.02.

Analysts Set New Price Targets

Separately, Piper Sandler reaffirmed a “neutral” rating and set a $33.00 price target on shares of Bar Harbor Bankshares in a research report on Thursday, September 5th.

Bar Harbor Bankshares Trading Up 15.8 %

The company has a debt-to-equity ratio of 0.89, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $583.77 million, a PE ratio of 11.86 and a beta of 0.67.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.12. The business had revenue of $58.23 million for the quarter, compared to analysts’ expectations of $37.30 million. Bar Harbor Bankshares had a net margin of 18.99% and a return on equity of 9.80%. Research analysts anticipate that Bar Harbor Bankshares will post 2.82 earnings per share for the current year.

Bar Harbor Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.14%. Bar Harbor Bankshares’s dividend payout ratio is 43.17%.

Hedge Funds Weigh In On Bar Harbor Bankshares

Several hedge funds and other institutional investors have recently bought and sold shares of BHB. BNP Paribas Financial Markets raised its position in shares of Bar Harbor Bankshares by 91.1% during the first quarter. BNP Paribas Financial Markets now owns 7,191 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 3,429 shares during the period. SlateStone Wealth LLC acquired a new position in Bar Harbor Bankshares during the second quarter worth $201,000. Sky Investment Group LLC bought a new position in shares of Bar Harbor Bankshares in the third quarter valued at $216,000. First Bancorp Inc ME acquired a new position in shares of Bar Harbor Bankshares during the third quarter valued at about $220,000. Finally, Algert Global LLC increased its position in shares of Bar Harbor Bankshares by 19.7% during the second quarter. Algert Global LLC now owns 9,302 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 1,530 shares in the last quarter. Institutional investors and hedge funds own 54.49% of the company’s stock.

Bar Harbor Bankshares Company Profile

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.