Meritage Portfolio Management Invests $250,000 in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Meritage Portfolio Management purchased a new stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 8,523 shares of the financial services provider’s stock, valued at approximately $250,000. Meritage Portfolio Management owned about 0.06% of Bar Harbor Bankshares at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brendel Financial Advisors LLC purchased a new stake in shares of Bar Harbor Bankshares in the fourth quarter valued at $371,000. SlateStone Wealth LLC purchased a new stake in Bar Harbor Bankshares in the 4th quarter worth about $220,000. Vanguard Group Inc. lifted its stake in Bar Harbor Bankshares by 1.4% in the third quarter. Vanguard Group Inc. now owns 734,214 shares of the financial services provider’s stock worth $17,349,000 after purchasing an additional 9,802 shares during the last quarter. Swiss National Bank boosted its position in shares of Bar Harbor Bankshares by 2.5% during the third quarter. Swiss National Bank now owns 33,300 shares of the financial services provider’s stock valued at $787,000 after buying an additional 800 shares during the period. Finally, Sky Investment Group LLC bought a new position in shares of Bar Harbor Bankshares during the fourth quarter valued at approximately $238,000. Hedge funds and other institutional investors own 54.49% of the company’s stock.

Bar Harbor Bankshares Trading Down 0.5 %

Shares of Bar Harbor Bankshares stock opened at $25.51 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The stock has a market cap of $387.50 million, a price-to-earnings ratio of 9.22 and a beta of 0.74. Bar Harbor Bankshares has a 1 year low of $19.55 and a 1 year high of $30.37.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $36.64 million for the quarter, compared to the consensus estimate of $37.10 million. Bar Harbor Bankshares had a net margin of 19.51% and a return on equity of 10.17%. Equities analysts expect that Bar Harbor Bankshares will post 2.75 EPS for the current fiscal year.

Bar Harbor Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.70%. This is a positive change from Bar Harbor Bankshares’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, May 15th. Bar Harbor Bankshares’s payout ratio is presently 40.73%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. TheStreet lowered shares of Bar Harbor Bankshares from a “b” rating to a “c+” rating in a research note on Monday, March 11th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $28.00 price target (down previously from $29.00) on shares of Bar Harbor Bankshares in a report on Monday, April 22nd.

Bar Harbor Bankshares Profile

Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides banking and nonbanking products and services primarily to consumers and businesses. It accepts various deposit products, including interest-bearing and non-interest-bearing demand accounts, savings accounts, time deposits, and money market deposit accounts, as well as certificates of deposit.