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

Coston McIsaac & Partners grew its stake in shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) by 85.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,289 shares of the financial services provider’s stock after acquiring an additional 34,771 shares during the period. Coston McIsaac & Partners’ holdings in Bar Harbor Bankshares were worth $2,443,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Focus Partners Wealth grew its position in shares of Bar Harbor Bankshares by 459.8% in the third quarter. Focus Partners Wealth now owns 90,870 shares of the financial services provider’s stock valued at $2,768,000 after purchasing an additional 74,638 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Bar Harbor Bankshares during the 4th quarter valued at $1,408,000. UBS Group AG lifted its holdings in Bar Harbor Bankshares by 489.9% during the 3rd quarter. UBS Group AG now owns 48,087 shares of the financial services provider’s stock worth $1,465,000 after purchasing an additional 39,935 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Bar Harbor Bankshares during the 4th quarter worth about $1,177,000. Finally, Goldman Sachs Group Inc. boosted its stake in Bar Harbor Bankshares by 150.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 57,926 shares of the financial services provider’s stock worth $1,799,000 after purchasing an additional 34,840 shares during the period. 54.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Bar Harbor Bankshares Stock Performance

NYSEAMERICAN BHB opened at $39.07 on Monday. The company’s 50 day simple moving average is $35.26 and its two-hundred day simple moving average 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. The stock has a market capitalization of $654.03 million, a PE ratio of 15.95 and a beta of 0.61.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates 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%. Analysts predict that Bar Harbor Bankshares, Inc. will post 3.67 earnings per share for the current fiscal year.

Bar Harbor Bankshares Increases Dividend

The firm also recently disclosed 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 positive change from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, May 21st. Bar Harbor Bankshares’s dividend payout ratio is 47.72%.

Insider Buying and Selling

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

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.