Bar Harbor Bankshares, Inc. $BHB Stake Increased by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its holdings in Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) by 135.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,361 shares of the financial services provider’s stock after buying an additional 24,365 shares during the period. Hsbc Holdings PLC owned about 0.25% of Bar Harbor Bankshares worth $1,379,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BHB. International Assets Investment Management LLC acquired a new position in Bar Harbor Bankshares in the 4th quarter valued at approximately $1,177,000. Coston McIsaac & Partners boosted its stake in shares of Bar Harbor Bankshares by 85.8% during the 1st quarter. Coston McIsaac & Partners now owns 75,289 shares of the financial services provider’s stock valued at $2,443,000 after buying an additional 34,771 shares during the period. LSV Asset Management boosted its stake in shares of Bar Harbor Bankshares by 18.3% during the 4th quarter. LSV Asset Management now owns 109,450 shares of the financial services provider’s stock valued at $3,398,000 after buying an additional 16,900 shares during the period. Empowered Funds LLC grew its holdings in shares of Bar Harbor Bankshares by 4.6% during the 4th quarter. Empowered Funds LLC now owns 61,278 shares of the financial services provider’s stock valued at $1,903,000 after acquiring an additional 2,686 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Bar Harbor Bankshares by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 48,376 shares of the financial services provider’s stock worth $1,474,000 after acquiring an additional 3,125 shares during the last quarter. 54.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BHB has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their price objective 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. Piper Sandler restated an “overweight” rating and issued a $41.00 target price (up from $39.00) on shares of Bar Harbor Bankshares in a research note on Friday, June 26th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Bar Harbor Bankshares has a consensus rating of “Hold” and an average target price of $39.50.

Bar Harbor Bankshares Stock Performance

Shares of NYSEAMERICAN BHB opened at $39.32 on Tuesday. The business’s 50-day simple moving average is $36.74 and its 200-day simple moving average is $34.63. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.94 and a current ratio of 0.94. Bar Harbor Bankshares, Inc. has a 52 week low of $28.06 and a 52 week high of $39.67. The firm has a market cap of $658.22 million, a price-to-earnings ratio of 13.28 and a beta of 0.60.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. Bar Harbor Bankshares had a return on equity of 11.51% and a net margin of 18.46%.The firm had revenue of $49.68 billion during the quarter, compared to analyst estimates of $49.32 million. As a group, equities research analysts expect that Bar Harbor Bankshares, Inc. will post 3.67 earnings per share for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

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

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.