Bar Harbor Bankshares (NYSEAMERICAN:BHB) Stock Passes Above 50-Day Moving Average – Here’s What Happened

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $33.77 and traded as high as $35.10. Bar Harbor Bankshares shares last traded at $34.94, with a volume of 85,247 shares traded.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler increased their price target on shares of 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, Bar Harbor Bankshares presently has an average rating of “Hold” and a consensus target price of $36.50.

Bar Harbor Bankshares Stock Up 0.8%

The company has a market cap of $584.90 million, a PE ratio of 14.26 and a beta of 0.61. The business has a 50-day simple moving average of $33.77 and a 200-day simple moving average of $32.75. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.40.

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

Bar Harbor Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 21st will be given a dividend of $0.34 per share. This is an increase from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, May 21st. Bar Harbor Bankshares’s dividend payout ratio (DPR) is currently 47.72%.

Insider Transactions at Bar Harbor Bankshares

In other Bar Harbor Bankshares news, Director Matthew L. Caras purchased 760 shares of the stock in a transaction on Tuesday, April 28th. The shares were bought at an average price of $34.68 per share, for a total transaction of $26,356.80. Following the completion of the transaction, the director owned 22,894 shares of the company’s stock, valued at $793,963.92. This trade represents a 3.43% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 3.37% of the company’s stock.

Hedge Funds Weigh In On Bar Harbor Bankshares

A number of hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in Bar Harbor Bankshares by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 892,121 shares of the financial services provider’s stock worth $28,949,000 after purchasing an additional 16,153 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Bar Harbor Bankshares by 2.6% in the third quarter. Vanguard Group Inc. now owns 864,661 shares of the financial services provider’s stock valued at $26,338,000 after acquiring an additional 21,589 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Bar Harbor Bankshares by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 410,445 shares of the financial services provider’s stock worth $12,747,000 after acquiring an additional 34,306 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Bar Harbor Bankshares by 11.4% in the first quarter. The Manufacturers Life Insurance Company now owns 374,639 shares of the financial services provider’s stock worth $12,157,000 after acquiring an additional 38,274 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Bar Harbor Bankshares by 52.3% in the first quarter. Renaissance Technologies LLC now owns 184,284 shares of the financial services provider’s stock worth $5,980,000 after acquiring an additional 63,300 shares during the last quarter. Hedge funds and other 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.