Renaissance Technologies LLC Has $5.98 Million Holdings in Bar Harbor Bankshares, Inc. $BHB

Renaissance Technologies LLC grew its holdings in Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) by 52.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 184,284 shares of the financial services provider’s stock after purchasing an additional 63,300 shares during the quarter. Renaissance Technologies LLC owned approximately 1.10% of Bar Harbor Bankshares worth $5,980,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in Bar Harbor Bankshares by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 892,121 shares of the financial services provider’s stock valued at $28,949,000 after buying an additional 16,153 shares during the period. Vanguard Group Inc. raised its position in shares of Bar Harbor Bankshares by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 864,661 shares of the financial services provider’s stock valued at $26,338,000 after acquiring an additional 21,589 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Bar Harbor Bankshares by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 410,445 shares of the financial services provider’s stock valued at $12,747,000 after acquiring an additional 34,306 shares during the last quarter. Boston Partners lifted its stake in shares of Bar Harbor Bankshares by 12.4% in the 4th quarter. Boston Partners now owns 146,360 shares of the financial services provider’s stock valued at $4,544,000 after purchasing an additional 16,156 shares during the period. Finally, Bridgeway Capital Management LLC boosted its position in shares of Bar Harbor Bankshares by 2.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 112,244 shares of the financial services provider’s stock worth $3,485,000 after purchasing an additional 2,686 shares during the last quarter. 54.49% of the stock is owned by institutional investors.

Bar Harbor Bankshares Price Performance

Shares of BHB stock opened at $40.54 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.40. Bar Harbor Bankshares, Inc. has a 12-month low of $28.11 and a 12-month high of $41.08. The firm has a fifty day moving average of $37.50 and a 200-day moving average of $35.04. The firm has a market capitalization of $678.64 million, a price-to-earnings ratio of 13.70 and a beta of 0.60.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $49.68 million for the quarter, compared to the consensus estimate of $49.32 million. Bar Harbor Bankshares had a return on equity of 11.51% and a net margin of 18.46%. On average, equities research analysts forecast that Bar Harbor Bankshares, Inc. will post 3.6 earnings per share for the current year.

Bar Harbor Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Thursday, August 20th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.4%. Bar Harbor Bankshares’s dividend payout ratio (DPR) is currently 47.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BHB shares. Zacks Research cut Bar Harbor Bankshares from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods raised their target price on Bar Harbor Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a report on Wednesday, July 22nd. Finally, Piper Sandler restated an “overweight” rating and set a $44.00 target price (up from $41.00) on shares of Bar Harbor Bankshares in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Bar Harbor Bankshares has a consensus rating of “Hold” and a consensus price target of $41.00.

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.