Odyssean LLC Invests $722,000 in Bar Harbor Bankshares, Inc. $BHB

Odyssean LLC acquired a new stake in Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 19,123 shares of the financial services provider’s stock, valued at approximately $722,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Bar Harbor Bankshares in the second quarter valued at about $61,092,000. Dimensional Fund Advisors LP increased its stake in Bar Harbor Bankshares by 1.8% in 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. raised its holdings in Bar Harbor Bankshares by 2.6% during the third quarter. Vanguard Group Inc. now owns 864,661 shares of the financial services provider’s stock worth $26,338,000 after purchasing an additional 21,589 shares during the last quarter. Geode Capital Management LLC boosted its position in Bar Harbor Bankshares by 9.1% during 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. Finally, The Manufacturers Life Insurance Company boosted 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 worth $12,157,000 after purchasing an additional 38,274 shares in the last quarter. 54.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on BHB. Keefe, Bruyette & Woods lifted 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. 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 research report on Tuesday, July 28th. Finally, Zacks Research downgraded shares of 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Bar Harbor Bankshares Price Performance

Shares of NYSEAMERICAN:BHB opened at $39.31 on Thursday. The company has a market cap of $659.23 million, a P/E ratio of 13.28 and a beta of 0.60. The business has a fifty day simple moving average of $38.74 and a 200-day simple moving average of $35.68. Bar Harbor Bankshares, Inc. has a 52 week low of $28.11 and a 52 week high of $41.08. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.51.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its 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. The firm had revenue of $49.68 million for the quarter, compared to the consensus estimate of $49.32 million. Bar Harbor Bankshares had a return on equity of 11.41% and a net margin of 18.46%. Equities research analysts forecast that Bar Harbor Bankshares, Inc. will post 3.6 EPS for the current year.

Bar Harbor Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, August 20th will be issued a $0.34 dividend. The ex-dividend date is Thursday, August 20th. This represents a $1.36 dividend on an annualized basis and a yield of 3.5%. Bar Harbor Bankshares’s dividend payout ratio (DPR) is presently 47.72%.

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.