Bar Harbor Bankshares, Inc. $BHB Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its holdings in shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) by 11.4% during the first quarter, HoldingsChannel.com reports. The firm owned 374,639 shares of the financial services provider’s stock after buying an additional 38,274 shares during the period. The Manufacturers Life Insurance Company’s holdings in Bar Harbor Bankshares were worth $12,157,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BHB. Dimensional Fund Advisors LP grew its stake in Bar Harbor Bankshares by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 892,121 shares of the financial services provider’s stock worth $28,949,000 after buying an additional 16,153 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Bar Harbor Bankshares by 2.6% during the third 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Bar Harbor Bankshares by 9.1% in 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 purchasing an additional 34,306 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Bar Harbor Bankshares by 52.3% in the 1st quarter. Renaissance Technologies LLC now owns 184,284 shares of the financial services provider’s stock worth $5,980,000 after purchasing an additional 63,300 shares in the last quarter. Finally, Boston Partners increased its stake in Bar Harbor Bankshares by 12.4% during 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 in the last quarter. Hedge funds and other institutional investors own 54.49% of the company’s stock.

Bar Harbor Bankshares Stock Performance

Shares of BHB opened at $39.71 on Monday. Bar Harbor Bankshares, Inc. has a 52-week low of $28.06 and a 52-week high of $40.61. The stock has a market cap of $664.75 million, a PE ratio of 13.42 and a beta of 0.60. The firm’s fifty day moving average is $37.16 and its two-hundred day moving average is $34.86. 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 (NYSEAMERICAN:BHB) last posted its quarterly 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 net margin of 18.46% and a return on equity of 11.51%. The firm had revenue of $49.68 billion for the quarter, compared to the consensus estimate of $49.32 million. Research analysts forecast that Bar Harbor Bankshares, Inc. will post 3.6 earnings per share for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BHB. Keefe, Bruyette & Woods upped their target price on Bar Harbor Bankshares from $36.00 to $38.00 and gave the company a “market perform” rating in a research report on Wednesday, July 22nd. Zacks Research downgraded Bar Harbor Bankshares from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Finally, Piper Sandler reissued an “overweight” rating and set a $44.00 price target (up from $41.00) on shares of Bar Harbor Bankshares in a report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.