Bar Harbor Bankshares (NYSEAMERICAN:BHB) Announces Quarterly Earnings Results

Bar Harbor Bankshares (NYSEAMERICAN:BHB) released its quarterly earnings results on Tuesday. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02, FiscalAI reports. The firm had revenue of $47.29 million for the quarter, compared to analyst estimates of $48.22 million. Bar Harbor Bankshares had a return on equity of 10.48% and a net margin of 15.13%.

Bar Harbor Bankshares Trading Down 1.6%

NYSEAMERICAN BHB traded down $0.56 during mid-day trading on Tuesday, reaching $33.96. 149,761 shares of the stock were exchanged, compared to its average volume of 116,433. The stock has a market cap of $568.49 million, a P/E ratio of 14.77 and a beta of 0.59. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.96 and a quick ratio of 0.96. Bar Harbor Bankshares has a one year low of $28.06 and a one year high of $36.05. The stock has a 50 day simple moving average of $33.21 and a 200-day simple moving average of $31.94.

Bar Harbor Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, February 20th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Friday, February 20th. Bar Harbor Bankshares’s dividend payout ratio (DPR) is currently 44.91%.

Analysts Set New Price Targets

Separately, Piper Sandler began coverage on Bar Harbor Bankshares in a research report on Monday, March 16th. They set an “overweight” rating and a $38.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Institutional Trading of Bar Harbor Bankshares

A number of large investors have recently bought and sold shares of the business. Deutsche Bank AG lifted its stake in shares of Bar Harbor Bankshares by 157.2% in the 4th quarter. Deutsche Bank AG now owns 12,907 shares of the financial services provider’s stock valued at $401,000 after purchasing an additional 7,889 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Bar Harbor Bankshares during the 3rd quarter valued at about $374,000. Odyssean LLC acquired a new stake in Bar Harbor Bankshares during the fourth quarter worth approximately $340,000. AQR Capital Management LLC increased its holdings in Bar Harbor Bankshares by 36.6% in the first quarter. AQR Capital Management LLC now owns 10,964 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 2,939 shares in the last quarter. Finally, Occudo Quantitative Strategies LP bought a new stake in Bar Harbor Bankshares in the fourth quarter worth approximately $315,000. 54.49% of the stock is currently owned by institutional investors and hedge funds.

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.