Odyssean LLC Makes New Investment in Bar Harbor Bankshares, Inc. $BHB

Odyssean LLC acquired a new position in shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 19,123 shares of the financial services provider’s stock, valued at approximately $722,000. Odyssean LLC owned 0.11% of Bar Harbor Bankshares at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Bar Harbor Bankshares by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,945 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 390 shares in the last quarter. Rhumbline Advisers increased its stake in Bar Harbor Bankshares by 1.9% in the second quarter. Rhumbline Advisers now owns 23,420 shares of the financial services provider’s stock valued at $702,000 after purchasing an additional 446 shares during the last quarter. CWM LLC raised its holdings in Bar Harbor Bankshares by 52.9% during the fourth quarter. CWM LLC now owns 1,778 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 615 shares in the last quarter. Rockland Trust Co. boosted its holdings in shares of Bar Harbor Bankshares by 4.0% in the 2nd quarter. Rockland Trust Co. now owns 18,481 shares of the financial services provider’s stock valued at $698,000 after buying an additional 715 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Bar Harbor Bankshares by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 83,681 shares of the financial services provider’s stock valued at $2,715,000 after buying an additional 753 shares during the last quarter. 54.49% of the stock is currently owned by institutional investors and hedge funds.

Bar Harbor Bankshares Stock Down 0.2%

Shares of Bar Harbor Bankshares stock opened at $39.31 on Thursday. Bar Harbor Bankshares, Inc. has a one year low of $28.11 and a one year high of $41.08. The company has a market cap of $659.23 million, a P/E ratio of 13.28 and a beta of 0.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a fifty day moving average of $38.74 and a two-hundred day moving average of $35.68.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share for the quarter, beating 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 net margin of 18.46% and a return on equity of 11.41%. On average, analysts forecast that Bar Harbor Bankshares, Inc. will post 3.6 earnings per share for the current year.

Bar Harbor Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, August 20th. This represents a $1.36 annualized dividend and a yield of 3.5%. Bar Harbor Bankshares’s payout ratio is presently 47.72%.

Wall Street Analysts Forecast Growth

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

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.