Bar Harbor Bankshares (NYSEAMERICAN:BHB) Sets New 12-Month High – Should You Buy?

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $40.70 and last traded at $40.62, with a volume of 51943 shares trading hands. The stock had previously closed at $39.71.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Bar Harbor Bankshares from $36.00 to $38.00 and gave the company a “market perform” rating in a research note on Wednesday, July 22nd. Zacks Research lowered shares of Bar Harbor Bankshares from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Finally, Piper Sandler reiterated an “overweight” rating and set a $44.00 price objective (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, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $41.00.

Bar Harbor Bankshares Stock Performance

The company has a market capitalization of $679.23 million, a P/E ratio of 13.72 and a beta of 0.60. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.94 and a quick ratio of 0.94. The company has a fifty day moving average price of $37.16 and a two-hundred day moving average price of $34.86.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $49.68 billion during the quarter, compared to the consensus estimate of $49.32 million. Bar Harbor Bankshares had a net margin of 18.46% and a return on equity of 11.51%. Equities analysts forecast that Bar Harbor Bankshares, Inc. will post 3.6 earnings per share for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, August 20th. Bar Harbor Bankshares’s dividend payout ratio (DPR) is 47.72%.

Hedge Funds Weigh In On Bar Harbor Bankshares

A number of hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in Bar Harbor Bankshares during the third quarter valued at $38,000. Clearstead Advisors LLC raised its holdings in shares of Bar Harbor Bankshares by 192.6% in the 4th quarter. Clearstead Advisors LLC now owns 1,384 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 911 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Bar Harbor Bankshares in the 4th quarter worth approximately $48,000. CWM LLC raised its position in Bar Harbor Bankshares by 52.9% during the fourth quarter. CWM LLC now owns 1,778 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 615 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Bar Harbor Bankshares in the first quarter worth approximately $73,000. 54.49% of the stock is owned by hedge funds and other institutional investors.

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.