Bar Harbor Bankshares (NYSEAMERICAN:BHB) Stock Crosses Above Fifty Day Moving Average – Time to Sell?

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB)’s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $35.02 and traded as high as $36.82. Bar Harbor Bankshares shares last traded at $36.29, with a volume of 128,882 shares.

Analysts Set New Price Targets

Separately, Piper Sandler upped their price target on shares of Bar Harbor Bankshares from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $36.50.

Bar Harbor Bankshares Stock Up 1.2%

The company has a market cap of $632.60 million, a P/E ratio of 15.42 and a beta of 0.61. 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 business’s fifty day moving average is $35.12 and its two-hundred day moving average is $33.67.

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

Bar Harbor Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.6%. The ex-dividend date was Thursday, May 21st. This is an increase from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. Bar Harbor Bankshares’s dividend payout ratio (DPR) is 47.72%.

Insiders Place Their Bets

In other news, Director Matthew L. Caras bought 760 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was acquired at an average cost of $34.68 per share, with a total value of $26,356.80. Following the transaction, the director directly owned 22,894 shares in the company, valued at approximately $793,963.92. This trade represents a 3.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bar Harbor Bankshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 increased 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 purchasing an additional 446 shares during the period. CWM LLC raised its holdings in shares of Bar Harbor Bankshares by 52.9% in the 4th quarter. CWM LLC now owns 1,778 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 615 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Bar Harbor Bankshares by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 83,681 shares of the financial services provider’s stock worth $2,715,000 after purchasing an additional 753 shares during the period. Finally, Inspire Investing LLC lifted its position in shares of Bar Harbor Bankshares by 5.0% in the 1st quarter. Inspire Investing LLC now owns 15,769 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 757 shares during the period. Institutional investors own 54.49% of the company’s stock.

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.