Bar Harbor Bankshares (NYSEAMERICAN:BHB) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $35.02 and traded as high as $36.82. Bar Harbor Bankshares shares last traded at $36.29, with a volume of 128,882 shares trading hands.

Analyst Ratings Changes

Separately, Piper Sandler raised their price target on Bar Harbor Bankshares from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.50.

Bar Harbor Bankshares Trading Down 0.3%

The company has a market capitalization of $607.49 million, a price-to-earnings ratio of 14.81 and a beta of 0.61. The business has a fifty day moving average price of $35.02 and a 200 day moving average price of $33.58. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.94 and a quick ratio of 0.94.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.02. The company had revenue of $47.29 billion during the quarter, compared to analysts’ expectations of $48.22 million. Bar Harbor Bankshares had a return on equity of 10.95% and a net margin of 15.90%. On average, equities analysts expect that Bar Harbor Bankshares, Inc. will post 3.67 EPS for the current fiscal year.

Bar Harbor Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 21st were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.7%. The ex-dividend date was Thursday, May 21st. This is an increase from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. Bar Harbor Bankshares’s dividend payout ratio is currently 47.72%.

Insiders Place Their Bets

In related news, Director Matthew L. Caras purchased 760 shares of Bar Harbor Bankshares stock in a transaction on Tuesday, April 28th. The stock was purchased at an average cost of $34.68 per share, with a total value of $26,356.80. Following the acquisition, the director directly owned 22,894 shares in the company, valued at approximately $793,963.92. This trade represents a 3.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 3.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BHB. Dimensional Fund Advisors LP grew its position in Bar Harbor Bankshares by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 892,121 shares of the financial services provider’s stock worth $28,949,000 after buying an additional 16,153 shares in the last quarter. Vanguard Group Inc. increased its stake in Bar Harbor Bankshares by 2.6% during the third quarter. Vanguard Group Inc. now owns 864,661 shares of the financial services provider’s stock valued at $26,338,000 after acquiring an additional 21,589 shares during the period. Geode Capital Management LLC raised its holdings in Bar Harbor Bankshares by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 410,445 shares of the financial services provider’s stock valued at $12,747,000 after acquiring an additional 34,306 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Bar Harbor Bankshares by 11.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 374,639 shares of the financial services provider’s stock valued at $12,157,000 after acquiring an additional 38,274 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Bar Harbor Bankshares by 52.3% in the 1st quarter. Renaissance Technologies LLC now owns 184,284 shares of the financial services provider’s stock worth $5,980,000 after acquiring an additional 63,300 shares during the period. Institutional investors and hedge funds own 54.49% of the company’s stock.

Bar Harbor Bankshares Company Profile

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.