Camden National Bank Buys Shares of 6,925 Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Camden National Bank purchased a new stake in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,925 shares of the financial services provider’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. SlateStone Wealth LLC purchased a new stake in shares of Bar Harbor Bankshares in the 2nd quarter valued at $201,000. Moors & Cabot Inc. purchased a new stake in Bar Harbor Bankshares during the third quarter worth about $214,000. Sky Investment Group LLC acquired a new stake in shares of Bar Harbor Bankshares during the third quarter worth about $216,000. First Bancorp Inc ME purchased a new position in shares of Bar Harbor Bankshares in the third quarter valued at approximately $220,000. Finally, Algert Global LLC grew its holdings 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 purchasing an additional 1,530 shares in the last quarter. 54.49% of the stock is owned by hedge funds and other institutional investors.

Bar Harbor Bankshares Stock Performance

Shares of Bar Harbor Bankshares stock opened at $35.97 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $549.26 million, a PE ratio of 12.94 and a beta of 0.67. Bar Harbor Bankshares has a 12-month low of $23.26 and a 12-month high of $38.47.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.12. Bar Harbor Bankshares had a net margin of 18.99% and a return on equity of 9.66%. The company had revenue of $58.23 million during the quarter, compared to the consensus estimate of $37.30 million. Equities research analysts forecast that Bar Harbor Bankshares will post 2.82 earnings per share for the current year.

Bar Harbor Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Thursday, November 14th. Bar Harbor Bankshares’s dividend payout ratio is currently 43.17%.

Analysts Set New Price Targets

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

Bar Harbor Bankshares Company Profile

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.