Bar Harbor Bankshares (NYSEAMERICAN:BHB) Price Target Raised to $39.00

Bar Harbor Bankshares (NYSEAMERICAN:BHB) had its target price boosted by investment analysts at Piper Sandler from $38.00 to $39.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price indicates a potential upside of 14.84% from the company’s current price.

Bar Harbor Bankshares Stock Performance

Shares of BHB stock opened at $33.96 on Wednesday. The firm has a market cap of $568.49 million, a price-to-earnings ratio of 14.77 and a beta of 0.59. The company’s 50 day moving average is $33.19 and its 200 day moving average is $31.97. 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 has a 52-week low of $28.06 and a 52-week high of $36.05.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.02. The company had revenue of $47.29 million for the quarter, compared to analyst estimates of $48.22 million. Bar Harbor Bankshares had a net margin of 15.13% and a return on equity of 10.48%. On average, sell-side analysts anticipate that Bar Harbor Bankshares will post 3.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Bar Harbor Bankshares

Several institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Bar Harbor Bankshares by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,945 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 390 shares during the last quarter. Rhumbline Advisers grew its holdings in Bar Harbor Bankshares by 1.9% in the second quarter. Rhumbline Advisers now owns 23,420 shares of the financial services provider’s stock worth $702,000 after purchasing an additional 446 shares during the last quarter. CWM LLC grew its holdings in Bar Harbor Bankshares by 52.9% in the fourth quarter. CWM LLC now owns 1,778 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 615 shares during the last quarter. Clearstead Advisors LLC grew its holdings in Bar Harbor Bankshares by 192.6% in the fourth quarter. Clearstead Advisors LLC now owns 1,384 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 911 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Bar Harbor Bankshares by 12.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,019 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 1,020 shares during the last quarter. 54.49% of the stock is owned by hedge funds and other institutional investors.

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.