Keefe, Bruyette & Woods Reaffirms “Market Perform” Rating for Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Bar Harbor Bankshares (NYSEAMERICAN:BHB)‘s stock had its “market perform” rating reiterated by stock analysts at Keefe, Bruyette & Woods in a report released on Monday, Benzinga reports. They presently have a $28.00 price objective on the financial services provider’s stock, down from their prior price objective of $29.00. Keefe, Bruyette & Woods’ price objective points to a potential upside of 10.54% from the stock’s current price.

Separately, TheStreet lowered shares of Bar Harbor Bankshares from a “b” rating to a “c+” rating in a research report on Monday, March 11th.

Bar Harbor Bankshares Trading Down 0.6 %

NYSEAMERICAN BHB opened at $25.33 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The company has a market cap of $384.76 million, a P/E ratio of 9.21 and a beta of 0.74. Bar Harbor Bankshares has a 1 year low of $19.55 and a 1 year high of $30.37.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. The business had revenue of $36.64 million for the quarter, compared to analyst estimates of $37.10 million. Bar Harbor Bankshares had a net margin of 19.51% and a return on equity of 10.17%. Analysts anticipate that Bar Harbor Bankshares will post 2.75 earnings per share for the current year.

Institutional Trading of Bar Harbor Bankshares

A number of hedge funds have recently added to or reduced their stakes in BHB. Mitchell Sinkler & Starr PA bought a new stake in Bar Harbor Bankshares in the fourth quarter valued at approximately $668,000. Dimensional Fund Advisors LP lifted its holdings in Bar Harbor Bankshares by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 807,635 shares of the financial services provider’s stock valued at $23,713,000 after buying an additional 21,856 shares during the period. Bailard Inc. bought a new stake in Bar Harbor Bankshares during the third quarter valued at $395,000. J.W. Cole Advisors Inc. acquired a new stake in Bar Harbor Bankshares during the 4th quarter worth about $435,000. Finally, Brendel Financial Advisors LLC acquired a new stake in Bar Harbor Bankshares during the 4th quarter worth about $371,000. Institutional investors and hedge funds own 54.49% of the company’s stock.

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.