Bar Harbor Bankshares (NYSEAMERICAN:BHB) Sets New 1-Year High – Still a Buy?

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB)’s stock price hit a new 52-week high during trading on Thursday. The company traded as high as $41.31 and last traded at $41.0140, with a volume of 8,869 shares. The stock had previously closed at $40.66.

Analyst Ratings Changes

A number of analysts have weighed in on BHB shares. Zacks Research upgraded Bar Harbor Bankshares from a “strong sell” rating to a “hold” rating in a report on Friday, September 25th. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Bar Harbor Bankshares in a report on Friday, October 23rd. Finally, 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 research report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Bar Harbor Bankshares presently has an average rating of “Hold” and a consensus target price of $41.00.

Bar Harbor Bankshares Stock Performance

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 stock has a market cap of $678.18 million, a P/E ratio of 11.96 and a beta of 0.63. The firm’s 50 day moving average is $39.49 and its 200 day moving average is $36.38.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its earnings results on Thursday, October 22nd. The financial services provider reported $1.04 earnings per share for the quarter, meeting the consensus estimate of $1.04. The company had revenue of $51.49 million during the quarter, compared to the consensus estimate of $51.77 million. Bar Harbor Bankshares had a net margin of 20.95% and a return on equity of 11.69%. Analysts anticipate that Bar Harbor Bankshares, Inc. will post 3.75 EPS for the current year.

Bar Harbor Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Thursday, November 19th will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.4%. Bar Harbor Bankshares’s dividend payout ratio (DPR) is presently 47.72%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Community Financial Services Group LLC raised its position in shares of Bar Harbor Bankshares by 3.2% in the 3rd quarter. Community Financial Services Group LLC now owns 11,704 shares of the financial services provider’s stock valued at $455,000 after purchasing an additional 360 shares during the last quarter. Rockland Trust Co. grew its position in Bar Harbor Bankshares by 4.0% during the 2nd quarter. Rockland Trust Co. now owns 18,481 shares of the financial services provider’s stock worth $698,000 after purchasing an additional 715 shares during the last quarter. Bank of New York Mellon Corp grew its position in Bar Harbor Bankshares by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 83,681 shares of the financial services provider’s stock worth $2,715,000 after purchasing an additional 753 shares during the last quarter. Inspire Investing LLC grew its position in Bar Harbor Bankshares by 5.0% during the 1st quarter. Inspire Investing LLC now owns 15,769 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 757 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in Bar Harbor Bankshares during the 2nd quarter valued at approximately $61,000. 54.49% of the stock is currently owned by hedge funds and other institutional investors.

Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares (NYSE American: BHB) is a bank holding company for Bar Harbor Bank & Trust, a community banking institution headquartered in Bar Harbor, Maine. The bank traces its roots to 1887 and serves individuals, families, businesses and nonprofit organizations through a network of banking offices and digital channels.

Bar Harbor Bank & Trust provides a range of financial services, including checking and savings accounts, certificates of deposit, consumer and residential lending, commercial loans, cash-management services and online and mobile banking.