Bar Harbor Bankshares (NYSEAMERICAN:BHB) Reaches New 12-Month High – Should You Buy?

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $40.70 and last traded at $40.62, with a volume of 51943 shares traded. The stock had previously closed at $39.71.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Zacks Research cut shares of Bar Harbor Bankshares from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Piper Sandler restated an “overweight” rating and set a $44.00 price target (up from $41.00) on shares of Bar Harbor Bankshares in a report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Bar Harbor Bankshares from $36.00 to $38.00 and gave the company a “market perform” rating in a research note on Wednesday, July 22nd. One equities 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 stock. Based on data from MarketBeat.com, Bar Harbor Bankshares currently has a consensus rating of “Hold” and an average target price of $41.00.

Bar Harbor Bankshares Trading Down 0.2%

The company has a fifty day moving average of $37.39 and a two-hundred day moving average of $34.99. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $680.31 million, a price-to-earnings ratio of 13.72 and a beta of 0.60.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. Bar Harbor Bankshares had a return on equity of 11.51% and a net margin of 18.46%.The company had revenue of $49.68 billion for the quarter, compared to the consensus estimate of $49.32 million. On average, research analysts expect that Bar Harbor Bankshares, Inc. will post 3.6 EPS for the current year.

Bar Harbor Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, August 20th will be paid a $0.34 dividend. The ex-dividend date is Thursday, August 20th. This represents a $1.36 dividend on an annualized basis and a yield of 3.3%. Bar Harbor Bankshares’s dividend payout ratio (DPR) is presently 47.72%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BHB. Royal Bank of Canada grew its position in shares of Bar Harbor Bankshares by 11.1% in the first quarter. Royal Bank of Canada now owns 50,501 shares of the financial services provider’s stock valued at $1,490,000 after purchasing an additional 5,036 shares during the last quarter. AQR Capital Management LLC increased its position in Bar Harbor Bankshares by 36.6% in the 1st quarter. AQR Capital Management LLC now owns 10,964 shares of the financial services provider’s stock worth $323,000 after buying an additional 2,939 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 acquiring an additional 390 shares during the period. Empowered Funds LLC boosted its position in shares of Bar Harbor Bankshares by 8.2% in the first quarter. Empowered Funds LLC now owns 49,544 shares of the financial services provider’s stock valued at $1,462,000 after acquiring an additional 3,754 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Bar Harbor Bankshares in the first quarter worth $522,000. Institutional investors and hedge funds 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.