Hsbc Holdings PLC Takes Position in Bar Harbor Bankshares, Inc. $BHB

Hsbc Holdings PLC bought a new stake in shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 29,933 shares of the financial services provider’s stock, valued at approximately $1,137,000.

Several other large investors have also bought and sold shares of BHB. Royal Bank of Canada raised its position in Bar Harbor Bankshares by 11.1% in the first quarter. Royal Bank of Canada now owns 50,501 shares of the financial services provider’s stock worth $1,490,000 after acquiring an additional 5,036 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Bar Harbor Bankshares by 36.6% in the 1st quarter. AQR Capital Management LLC now owns 10,964 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 2,939 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Bar Harbor Bankshares by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,945 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 390 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Bar Harbor Bankshares by 8.2% during the 1st quarter. Empowered Funds LLC now owns 49,544 shares of the financial services provider’s stock valued at $1,462,000 after purchasing an additional 3,754 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Bar Harbor Bankshares in the 1st quarter worth approximately $522,000. Institutional investors own 54.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BHB. Zacks Research downgraded shares of Bar Harbor Bankshares from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods raised their target price on shares of 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 issued a $44.00 price target (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 assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Bar Harbor Bankshares presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Bar Harbor Bankshares Stock Down 0.4%

Shares of Bar Harbor Bankshares stock opened at $39.23 on Tuesday. Bar Harbor Bankshares, Inc. has a 12-month low of $28.11 and a 12-month high of $41.08. The firm has a market capitalization of $657.89 million, a PE ratio of 13.25 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.51. The stock’s fifty day moving average is $38.91 and its 200-day moving average is $35.77.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $49.68 million during the quarter, compared to analyst estimates of $49.32 million. Bar Harbor Bankshares had a return on equity of 11.41% and a net margin of 18.46%. Equities analysts anticipate that Bar Harbor Bankshares, Inc. will post 3.6 earnings per share for the current year.

Bar Harbor Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be paid 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 yield of 3.5%. Bar Harbor Bankshares’s dividend payout ratio is currently 47.72%.

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.