GSA Capital Partners LLP Takes Position in Bar Harbor Bankshares, Inc. $BHB

GSA Capital Partners LLP bought a new stake in shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 13,885 shares of the financial services provider’s stock, valued at approximately $524,000.

Several other hedge funds have also added to or reduced their stakes in BHB. Dimensional Fund Advisors LP grew its stake in shares of Bar Harbor Bankshares by 1.8% during 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 last quarter. Vanguard Group Inc. boosted its holdings in 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 period. Geode Capital Management LLC increased its stake in 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 worth $12,747,000 after purchasing an additional 34,306 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Bar Harbor Bankshares by 11.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 374,639 shares of the financial services provider’s stock valued at $12,157,000 after buying an additional 38,274 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Bar Harbor Bankshares by 52.3% during the 1st quarter. Renaissance Technologies LLC now owns 184,284 shares of the financial services provider’s stock valued at $5,980,000 after buying an additional 63,300 shares during the period. 54.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $44.00 price target (up from $41.00) on shares of Bar Harbor Bankshares in a report on Tuesday, July 28th. Zacks Research downgraded shares of Bar Harbor Bankshares from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods increased 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. One equities research 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. Based on data from MarketBeat.com, Bar Harbor Bankshares currently has a consensus rating of “Hold” and an average target price of $41.00.

Bar Harbor Bankshares Price Performance

BHB opened at $39.38 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 0.96. Bar Harbor Bankshares, Inc. has a 52-week low of $28.11 and a 52-week high of $41.08. The stock has a market capitalization of $660.40 million, a PE ratio of 13.30 and a beta of 0.60. The stock’s 50 day moving average price is $38.49 and its 200-day moving average price is $35.56.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Bar Harbor Bankshares had a return on equity of 11.41% and a net margin of 18.46%.The company had revenue of $49.68 million during the quarter, compared to the consensus estimate of $49.32 million. On average, equities research analysts predict that Bar Harbor Bankshares, Inc. will post 3.6 EPS for the current year.

Bar Harbor Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be issued a $0.34 dividend. 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 dividend payout ratio is 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.