Bar Harbor Bankshares (NYSEAMERICAN:BHB) Sets New 52-Week High – Here’s Why

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $37.22 and last traded at $37.22, with a volume of 56685 shares trading hands. The stock had previously closed at $36.29.

Analyst Ratings Changes

Separately, Piper Sandler raised their price target on Bar Harbor Bankshares from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $36.50.

Bar Harbor Bankshares Stock Performance

The firm has a market cap of $623.06 million, a price-to-earnings ratio of 15.19 and a beta of 0.61. The stock’s fifty day moving average is $35.02 and its two-hundred day moving average is $33.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.94 and a current ratio of 0.94.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its earnings results on Tuesday, April 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. Bar Harbor Bankshares had a net margin of 15.90% and a return on equity of 10.95%. The firm had revenue of $47.29 billion during the quarter, compared to analyst estimates of $48.22 million. On average, analysts expect that Bar Harbor Bankshares, Inc. will post 3.67 earnings per share for the current fiscal year.

Bar Harbor Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 21st were issued a $0.34 dividend. This is a positive change from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $1.36 dividend on an annualized basis and a yield of 3.7%. Bar Harbor Bankshares’s dividend payout ratio is currently 47.72%.

Insider Buying and Selling

In other Bar Harbor Bankshares news, Director Matthew L. Caras bought 760 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were purchased 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 approximately $793,963.92. The trade was a 3.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 3.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. bought a new stake in shares of Bar Harbor Bankshares during the third quarter valued at about $38,000. Clearstead Advisors LLC increased its stake in Bar Harbor Bankshares by 192.6% during the 4th quarter. Clearstead Advisors LLC now owns 1,384 shares of the financial services provider’s stock valued at $43,000 after buying an additional 911 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Bar Harbor Bankshares during the 4th quarter worth about $48,000. CWM LLC lifted its stake in shares of Bar Harbor Bankshares by 52.9% in the 4th quarter. CWM LLC now owns 1,778 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 615 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Bar Harbor Bankshares in the 1st quarter worth approximately $73,000. Institutional investors own 54.49% of the company’s stock.

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.