Bar Harbor Bankshares (NYSEAMERICAN:BHB) Reaches New 12-Month High – Still a Buy?

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) hit a new 52-week high on Tuesday . The stock traded as high as $39.95 and last traded at $39.5950, with a volume of 8405 shares changing hands. The stock had previously closed at $39.02.

Analyst Ratings Changes

Several analysts have issued reports on the company. Piper Sandler restated an “overweight” rating and issued a $44.00 target price on shares of Bar Harbor Bankshares in a research note on Tuesday. Keefe, Bruyette & Woods increased 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. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $41.00.

Bar Harbor Bankshares Stock Up 0.9%

The company’s 50 day simple moving average is $36.74 and its 200-day simple moving average is $34.63. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $664.08 million, a PE ratio of 13.37 and a beta of 0.60.

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 for the quarter, topping the consensus estimate of $0.90 by $0.02. Bar Harbor Bankshares had a net margin of 18.46% and a return on equity of 11.51%. The firm had revenue of $49.68 billion for the quarter, compared to analysts’ expectations of $49.32 million. On average, analysts forecast that Bar Harbor Bankshares, Inc. will post 3.67 EPS for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

The firm also recently announced 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 is Thursday, August 20th. Bar Harbor Bankshares’s dividend payout ratio is currently 47.72%.

Institutional Trading of Bar Harbor Bankshares

Large investors have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Bar Harbor Bankshares by 14.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 15,548 shares of the financial services provider’s stock worth $587,000 after purchasing an additional 1,919 shares in the last quarter. Rockland Trust Co. raised its stake in Bar Harbor Bankshares by 4.0% in the second quarter. Rockland Trust Co. now owns 18,481 shares of the financial services provider’s stock valued at $698,000 after purchasing an additional 715 shares in the last quarter. Empowered Funds LLC raised its stake in Bar Harbor Bankshares by 9.5% in the first quarter. Empowered Funds LLC now owns 67,110 shares of the financial services provider’s stock valued at $2,178,000 after purchasing an additional 5,832 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Bar Harbor Bankshares by 11.4% during the first quarter. The Manufacturers Life Insurance Company now owns 374,639 shares of the financial services provider’s stock valued at $12,157,000 after purchasing an additional 38,274 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its position in Bar Harbor Bankshares by 44.8% during the first quarter. Quantinno Capital Management LP now owns 30,915 shares of the financial services provider’s stock valued at $1,003,000 after purchasing an additional 9,570 shares during the last quarter. 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.