Bar Harbor Bankshares (NYSEAMERICAN:BHB) Price Target Raised to $34.00

Bar Harbor Bankshares (NYSEAMERICAN:BHB) had its price objective increased by Keefe, Bruyette & Woods from $30.00 to $34.00 in a report published on Wednesday,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

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

Bar Harbor Bankshares Stock Performance

Shares of Bar Harbor Bankshares stock opened at $35.45 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. Bar Harbor Bankshares has a 52 week low of $23.26 and a 52 week high of $38.47. The stock has a market capitalization of $541.32 million, a PE ratio of 12.75 and a beta of 0.69.

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

Bar Harbor Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 3.39%. The ex-dividend date of this dividend is Thursday, November 14th. Bar Harbor Bankshares’s dividend payout ratio is currently 43.17%.

Hedge Funds Weigh In On Bar Harbor Bankshares

Hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its holdings in shares of Bar Harbor Bankshares by 23.7% in the second quarter. American Century Companies Inc. now owns 213,136 shares of the financial services provider’s stock valued at $5,729,000 after purchasing an additional 40,891 shares during the period. Dimensional Fund Advisors LP raised its position in Bar Harbor Bankshares by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 865,524 shares of the financial services provider’s stock valued at $23,264,000 after purchasing an additional 24,718 shares in the last quarter. State Street Corp lifted its holdings in shares of Bar Harbor Bankshares by 5.6% in the 3rd quarter. State Street Corp now owns 362,823 shares of the financial services provider’s stock worth $11,189,000 after buying an additional 19,118 shares during the period. Barclays PLC grew its position in shares of Bar Harbor Bankshares by 50.0% during the 3rd quarter. Barclays PLC now owns 49,714 shares of the financial services provider’s stock worth $1,533,000 after buying an additional 16,579 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Bar Harbor Bankshares by 196.1% during the third quarter. Thrivent Financial for Lutherans now owns 23,019 shares of the financial services provider’s stock valued at $710,000 after buying an additional 15,245 shares during the period. 54.49% of the stock is currently owned by institutional investors.

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.