Bar Harbor Bankshares (NYSEAMERICAN:BHB) Sets New 12-Month High – Should You Buy?

Bar Harbor Bankshares (NYSEAMERICAN:BHB) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $36.64 and last traded at $36.59, with a volume of 3436 shares. The stock had previously closed at $33.02.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reiterated a “neutral” rating and set a $33.00 price target on shares of Bar Harbor Bankshares in a report on Thursday, September 5th.

Bar Harbor Bankshares Stock Performance

The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89. The company has a market cap of $583.77 million, a P/E ratio of 11.86 and a beta of 0.67.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.12. The company had revenue of $58.23 million for the quarter, compared to the consensus estimate of $37.30 million. Bar Harbor Bankshares had a return on equity of 9.80% and a net margin of 18.99%. As a group, equities analysts forecast that Bar Harbor Bankshares will post 2.82 EPS for the current year.

Bar Harbor Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Thursday, November 14th. Bar Harbor Bankshares’s payout ratio is currently 43.17%.

Institutional Investors Weigh In On Bar Harbor Bankshares

Several institutional investors have recently bought and sold shares of BHB. BNP Paribas Financial Markets lifted its position in Bar Harbor Bankshares by 91.1% in the first quarter. BNP Paribas Financial Markets now owns 7,191 shares of the financial services provider’s stock valued at $190,000 after purchasing an additional 3,429 shares during the last quarter. SlateStone Wealth LLC bought a new stake in Bar Harbor Bankshares during the 2nd quarter valued at $201,000. Sky Investment Group LLC purchased a new stake in Bar Harbor Bankshares during the 3rd quarter valued at $216,000. First Bancorp Inc ME bought a new stake in Bar Harbor Bankshares in the 3rd quarter worth $220,000. Finally, Algert Global LLC increased its position in shares of Bar Harbor Bankshares by 19.7% in the second quarter. Algert Global LLC now owns 9,302 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 1,530 shares during the period. 54.49% of the stock is currently owned by hedge funds and other institutional investors.

About Bar Harbor Bankshares

Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides banking and nonbanking products and services primarily to consumers and businesses. It accepts various deposit products, including interest-bearing and non-interest-bearing demand accounts, savings accounts, time deposits, and money market deposit accounts, as well as certificates of deposit.