First Bancorp Inc ME Acquires Shares of 15,125 Bar Harbor Bankshares, Inc. $BHB

First Bancorp Inc ME bought a new position in shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,125 shares of the financial services provider’s stock, valued at approximately $571,000. First Bancorp Inc ME owned about 0.09% of Bar Harbor Bankshares as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. purchased a new stake in Bar Harbor Bankshares during the 2nd quarter valued at about $61,092,000. The Manufacturers Life Insurance Company purchased a new position in Bar Harbor Bankshares in the 2nd quarter worth approximately $14,061,000. Bank of New York Mellon Corp purchased a new position in Bar Harbor Bankshares in the 2nd quarter worth approximately $3,291,000. Trust Co. of Vermont acquired a new position in shares of Bar Harbor Bankshares during the 2nd quarter worth approximately $2,885,000. Finally, Focus Partners Wealth boosted its holdings in shares of Bar Harbor Bankshares by 459.8% during the 3rd quarter. Focus Partners Wealth now owns 90,870 shares of the financial services provider’s stock worth $2,768,000 after purchasing an additional 74,638 shares during the last quarter. Hedge funds and other institutional investors own 54.49% of the company’s stock.

Bar Harbor Bankshares Price Performance

BHB stock opened at $39.39 on Wednesday. Bar Harbor Bankshares, Inc. has a 52-week low of $28.11 and a 52-week high of $41.08. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.51. The stock has a market cap of $660.57 million, a price-to-earnings ratio of 13.31 and a beta of 0.60. The business has a fifty day moving average of $38.67 and a two-hundred day moving average of $35.65.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $49.68 million during the quarter, compared to analysts’ expectations of $49.32 million. Bar Harbor Bankshares had a return on equity of 11.41% and a net margin of 18.46%. As a group, research analysts anticipate that Bar Harbor Bankshares, Inc. will post 3.6 earnings per share for the current year.

Bar Harbor Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, August 20th. Bar Harbor Bankshares’s dividend payout ratio (DPR) is 47.72%.

Analysts Set New Price Targets

BHB has been the subject of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $44.00 price target (up from $41.00) on shares of Bar Harbor Bankshares in a report on Tuesday, July 28th. Keefe, Bruyette & Woods upped their target price on Bar Harbor Bankshares from $36.00 to $38.00 and gave the company a “market perform” rating in a report on Wednesday, July 22nd. Finally, Zacks Research downgraded Bar Harbor Bankshares from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Bar Harbor Bankshares currently has a consensus rating of “Hold” and a consensus price target of $41.00.

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.