Bar Harbor Bankshares (NYSEAMERICAN:BHB) Sets New 12-Month High – Time to Buy?

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $36.07 and last traded at $36.23, with a volume of 33782 shares trading hands. The stock had previously closed at $35.46.

Analyst Ratings Changes

Separately, Piper Sandler lifted their price objective 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, Bar Harbor Bankshares presently has an average rating of “Hold” and a consensus target price of $36.50.

Bar Harbor Bankshares Trading Up 1.5%

The company has a 50-day simple moving average of $34.23 and a 200-day simple moving average of $33.02. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $602.71 million, a P/E ratio of 14.70 and a beta of 0.61.

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

Bar Harbor Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, May 21st. This is an increase from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.8%. Bar Harbor Bankshares’s dividend payout ratio is presently 47.72%.

Insider Buying and Selling at Bar Harbor Bankshares

In other news, Director Matthew L. Caras bought 760 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was bought at an average price of $34.68 per share, for a total transaction of $26,356.80. Following the completion of the transaction, the director directly owned 22,894 shares in the company, valued at $793,963.92. The trade was a 3.43% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bar Harbor Bankshares

A number of institutional investors and hedge funds have recently made changes to their positions in BHB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Bar Harbor Bankshares by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,945 shares of the financial services provider’s stock valued at $264,000 after buying an additional 390 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Bar Harbor Bankshares by 1.9% during the 2nd quarter. Rhumbline Advisers now owns 23,420 shares of the financial services provider’s stock worth $702,000 after acquiring an additional 446 shares during the last quarter. CWM LLC increased its holdings in shares of Bar Harbor Bankshares by 52.9% during the 4th quarter. CWM LLC now owns 1,778 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 615 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Bar Harbor Bankshares by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 83,681 shares of the financial services provider’s stock worth $2,715,000 after acquiring an additional 753 shares during the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of Bar Harbor Bankshares by 5.0% during the 1st quarter. Inspire Investing LLC now owns 15,769 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 757 shares during the last quarter. Institutional investors own 54.49% of the company’s stock.

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.