Bar Harbor Bankshares (NYSEAMERICAN:BHB) Sees Strong Trading Volume on Analyst Upgrade

Shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) saw unusually-high trading volume on Monday after Piper Sandler upgraded the stock to a strong-buy rating. Approximately 489,589 shares were traded during trading, an increase of 388% from the previous session’s volume of 100,402 shares.The stock last traded at $31.5250 and had previously closed at $31.17.

Institutional Investors Weigh In On Bar Harbor Bankshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BHB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Bar Harbor Bankshares by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,945 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 390 shares in the last quarter. Rhumbline Advisers boosted its position in Bar Harbor Bankshares by 1.9% during the 2nd quarter. Rhumbline Advisers now owns 23,420 shares of the financial services provider’s stock valued at $702,000 after acquiring an additional 446 shares in the last quarter. CWM LLC boosted its position in Bar Harbor Bankshares by 52.9% during the 4th quarter. CWM LLC now owns 1,778 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 615 shares in the last quarter. Clearstead Advisors LLC grew its holdings in shares of 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 worth $43,000 after acquiring an additional 911 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Bar Harbor Bankshares by 12.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,019 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 1,020 shares during the period. 54.49% of the stock is currently owned by institutional investors.

Bar Harbor Bankshares Price Performance

The stock has a market cap of $518.77 million, a P/E ratio of 13.47 and a beta of 0.62. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.96. The firm has a 50-day moving average price of $33.27 and a 200-day moving average price of $31.67.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.04. The company had revenue of $49.37 million for the quarter, compared to analyst estimates of $42.80 million. Bar Harbor Bankshares had a return on equity of 10.48% and a net margin of 15.13%. On average, analysts forecast that Bar Harbor Bankshares, Inc. will post 2.84 earnings per share for the current fiscal year.

Bar Harbor Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, February 20th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, February 20th. Bar Harbor Bankshares’s dividend payout ratio (DPR) is presently 44.91%.

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.