Teacher Retirement System of Texas Purchases New Shares in Bar Harbor Bankshares $BHB

Teacher Retirement System of Texas purchased a new position in shares of Bar Harbor Bankshares (NYSE:BHB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,903 shares of the company’s stock, valued at approximately $297,000. Teacher Retirement System of Texas owned 0.06% of Bar Harbor Bankshares at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BHB. State of New Jersey Common Pension Fund D acquired a new stake in shares of Bar Harbor Bankshares during the first quarter valued at about $2,260,000. Nuveen LLC purchased a new position in Bar Harbor Bankshares in the first quarter valued at about $1,464,000. Trust Co. of Vermont grew its stake in Bar Harbor Bankshares by 67.7% during the 2nd quarter. Trust Co. of Vermont now owns 73,332 shares of the company’s stock valued at $2,197,000 after purchasing an additional 29,606 shares in the last quarter. Moors & Cabot Inc. increased its holdings in Bar Harbor Bankshares by 321.8% during the 1st quarter. Moors & Cabot Inc. now owns 29,315 shares of the company’s stock worth $865,000 after purchasing an additional 22,365 shares during the last quarter. Finally, Brant Point Investment Management LLC acquired a new position in shares of Bar Harbor Bankshares in the 1st quarter valued at approximately $583,000. 54.49% of the stock is owned by hedge funds and other institutional investors.

Bar Harbor Bankshares Trading Up 1.1%

Bar Harbor Bankshares stock opened at $29.94 on Wednesday. Bar Harbor Bankshares has a 12 month low of $26.43 and a 12 month high of $37.60. The stock has a fifty day simple moving average of $30.49. The firm has a market capitalization of $499.49 million, a P/E ratio of 12.91 and a beta of 0.71.

Analyst Upgrades and Downgrades

BHB has been the subject of a number of recent analyst reports. Piper Sandler raised shares of Bar Harbor Bankshares from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $34.00 to $35.00 in a research report on Tuesday, August 5th. Zacks Research downgraded shares of Bar Harbor Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Bar Harbor Bankshares from $33.00 to $34.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.50.

About Bar Harbor Bankshares

Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides commercial, lending, retail, and wealth management banking services. 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.