Renaissance Technologies LLC Has $5.98 Million Holdings in Bar Harbor Bankshares, Inc. $BHB

Renaissance Technologies LLC lifted its stake in shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) by 52.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,284 shares of the financial services provider’s stock after acquiring an additional 63,300 shares during the period. Renaissance Technologies LLC’s holdings in Bar Harbor Bankshares were worth $5,980,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in Bar Harbor Bankshares in the 3rd quarter worth $38,000. Clearstead Advisors LLC raised its stake in shares of Bar Harbor Bankshares by 192.6% in the 4th quarter. Clearstead Advisors LLC now owns 1,384 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 911 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Bar Harbor Bankshares in the 4th quarter valued at about $48,000. CWM LLC lifted its holdings in shares of Bar Harbor Bankshares by 52.9% in the fourth 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. Finally, Acadian Asset Management LLC acquired a new position in shares of Bar Harbor Bankshares during the first quarter worth about $73,000. 54.49% of the stock is currently owned by institutional investors and hedge funds.

Bar Harbor Bankshares Stock Down 0.5%

Shares of BHB stock opened at $40.54 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.40. Bar Harbor Bankshares, Inc. has a 1 year low of $28.11 and a 1 year high of $41.08. The firm’s fifty day moving average price is $37.50 and its two-hundred day moving average price is $35.04. The firm has a market capitalization of $678.64 million, a P/E ratio of 13.70 and a beta of 0.60.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.92 EPS 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 million for the quarter, compared to analysts’ expectations of $49.32 million. On average, equities analysts predict that Bar Harbor Bankshares, Inc. will post 3.6 EPS for the current fiscal year.

Bar Harbor Bankshares Dividend Announcement

The business 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 dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.4%. The ex-dividend date is Thursday, August 20th. Bar Harbor Bankshares’s dividend payout ratio is presently 47.72%.

Analysts Set New Price Targets

A number of research firms recently issued reports on BHB. Keefe, Bruyette & Woods increased their price objective on Bar Harbor Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a report on Wednesday, July 22nd. Zacks Research cut Bar Harbor Bankshares from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $44.00 price target (up from $41.00) on shares of Bar Harbor Bankshares in a research 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $41.00.

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.