Hsbc Holdings PLC Has $1.38 Million Stock Holdings in Bar Harbor Bankshares, Inc. $BHB

Hsbc Holdings PLC increased its holdings in shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) by 135.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 42,361 shares of the financial services provider’s stock after acquiring an additional 24,365 shares during the quarter. Hsbc Holdings PLC’s holdings in Bar Harbor Bankshares were worth $1,379,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Focus Partners Wealth grew its holdings in Bar Harbor Bankshares by 459.8% in the 3rd quarter. Focus Partners Wealth now owns 90,870 shares of the financial services provider’s stock valued at $2,768,000 after buying an additional 74,638 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Bar Harbor Bankshares during the fourth quarter worth approximately $1,408,000. UBS Group AG lifted its holdings in shares of Bar Harbor Bankshares by 489.9% during the third quarter. UBS Group AG now owns 48,087 shares of the financial services provider’s stock worth $1,465,000 after buying an additional 39,935 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Bar Harbor Bankshares in the fourth quarter valued at approximately $1,177,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Bar Harbor Bankshares by 150.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 57,926 shares of the financial services provider’s stock valued at $1,799,000 after acquiring an additional 34,840 shares during the period. Institutional investors own 54.49% of the company’s stock.

Bar Harbor Bankshares Stock Performance

NYSEAMERICAN BHB opened at $39.32 on Tuesday. The stock has a market cap of $658.22 million, a P/E ratio of 13.28 and a beta of 0.60. The company’s 50-day simple moving average is $36.74 and its 200 day simple moving average is $34.63. Bar Harbor Bankshares, Inc. has a twelve month low of $28.06 and a twelve month high of $39.67. 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 posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm had revenue of $49.68 billion during the quarter, compared to analyst estimates of $49.32 million. Bar Harbor Bankshares had a net margin of 18.46% and a return on equity of 11.51%. As a group, research analysts forecast that Bar Harbor Bankshares, Inc. will post 3.67 earnings per share for the current fiscal year.

Bar Harbor Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Thursday, August 20th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Thursday, August 20th. Bar Harbor Bankshares’s dividend payout ratio is currently 47.72%.

Analyst Ratings Changes

A number of brokerages recently issued reports on BHB. Keefe, Bruyette & Woods boosted their target price on shares of Bar Harbor Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 22nd. Piper Sandler reiterated an “overweight” rating and set a $41.00 target price (up from $39.00) on shares of Bar Harbor Bankshares in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $39.50.

Bar Harbor Bankshares 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.