LSV Asset Management Increases Stock Position in Bar Harbor Bankshares, Inc. $BHB

LSV Asset Management raised its holdings in Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) by 18.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,450 shares of the financial services provider’s stock after purchasing an additional 16,900 shares during the quarter. LSV Asset Management’s holdings in Bar Harbor Bankshares were worth $3,398,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Coston McIsaac & Partners boosted its holdings in Bar Harbor Bankshares by 83.2% in the 3rd quarter. Coston McIsaac & Partners now owns 75,974 shares of the financial services provider’s stock valued at $2,313,000 after purchasing an additional 34,493 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Bar Harbor Bankshares in the 4th quarter valued at approximately $1,177,000. Rockland Trust Co. purchased a new stake in Bar Harbor Bankshares in the 3rd quarter valued at approximately $459,000. Raymond James Financial Inc. purchased a new stake in Bar Harbor Bankshares in the 2nd quarter valued at approximately $93,000. Finally, Acadian Asset Management LLC purchased a new stake in Bar Harbor Bankshares in the 1st quarter valued at approximately $73,000. Hedge funds and other institutional investors own 54.49% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lifted their price objective on Bar Harbor Bankshares from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. 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.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.50.

Bar Harbor Bankshares Price Performance

Shares of NYSEAMERICAN:BHB opened at $34.94 on Wednesday. The business’s 50 day simple moving average is $33.77 and its 200-day simple moving average is $32.75. The firm has a market capitalization of $584.90 million, a price-to-earnings ratio of 14.26 and a beta of 0.61. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.94 and a quick ratio of 0.94. Bar Harbor Bankshares, Inc. has a 12 month low of $28.06 and a 12 month high of $36.05.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.86 by $0.02. The business had revenue of $47.29 billion for the quarter, compared to analyst estimates of $48.22 million. Bar Harbor Bankshares had a return on equity of 10.95% and a net margin of 15.90%. As a group, equities analysts forecast that Bar Harbor Bankshares, Inc. will post 3.67 earnings per share for the current fiscal year.

Bar Harbor Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 21st will be paid a dividend of $0.34 per share. This is a positive change from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $1.36 annualized dividend and a dividend yield of 3.9%. Bar Harbor Bankshares’s dividend payout ratio is presently 47.72%.

Insider Activity at Bar Harbor Bankshares

In other news, Director Matthew L. Caras purchased 760 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were acquired at an average price of $34.68 per share, with a total value of $26,356.80. Following the purchase, the director directly owned 22,894 shares of the company’s stock, valued at $793,963.92. The trade was a 3.43% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 3.37% of the stock is owned by company insiders.

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.