Silverlake Wealth Management LLC Acquires New Holdings in Bar Harbor Bankshares, Inc. $BHB

Silverlake Wealth Management LLC bought a new stake in Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 27,609 shares of the financial services provider’s stock, valued at approximately $1,043,000.

Several other large investors also recently added to or reduced their stakes in BHB. Dimensional Fund Advisors LP raised its holdings in shares of Bar Harbor Bankshares by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 892,121 shares of the financial services provider’s stock valued at $28,949,000 after purchasing an additional 16,153 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Bar Harbor Bankshares by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 864,661 shares of the financial services provider’s stock valued at $26,338,000 after purchasing an additional 21,589 shares during the last quarter. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 34,306 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in 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 purchasing an additional 38,274 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Bar Harbor Bankshares by 52.3% during the first quarter. Renaissance Technologies LLC now owns 184,284 shares of the financial services provider’s stock worth $5,980,000 after buying an additional 63,300 shares during the last quarter. 54.49% of the stock is owned by institutional investors.

Bar Harbor Bankshares Price Performance

NYSEAMERICAN BHB opened at $40.62 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $38.20 and a 200 day simple moving average of $35.36. The company has a market cap of $681.20 million, a P/E ratio of 13.72 and a beta of 0.60. Bar Harbor Bankshares, Inc. has a 1 year low of $28.11 and a 1 year high of $41.08.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $49.68 million for 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 11.41%. On average, sell-side analysts predict that Bar Harbor Bankshares, Inc. will post 3.6 EPS for the current year.

Bar Harbor Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Thursday, August 20th. Bar Harbor Bankshares’s dividend payout ratio is 47.72%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BHB. Piper Sandler restated an “overweight” rating and set a $44.00 target price (up from $41.00) on shares of Bar Harbor Bankshares in a report on Tuesday, July 28th. Keefe, Bruyette & Woods upped their price target on Bar Harbor Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 22nd. Finally, Zacks Research lowered Bar Harbor Bankshares from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.00.

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.