Key Points
- Director Matthew Caras purchased 760 shares at an average price of $34.68 on April 28, boosting his stake to 22,894 shares (a 3.43% increase) worth roughly $794,000, per an SEC filing.
- Bar Harbor Bankshares raised its quarterly dividend to $0.34 (annualized $1.36) for a yield of 3.9%; the ex-dividend date is May 21 and the payment date is June 18, up from the prior $0.32 quarterly payout.
- The company reported quarterly EPS of $0.88, beating estimates of $0.86 while revenue of $47.29M missed expectations, and Piper Sandler raised its price target to $39 with an "overweight" rating amid a consensus "Hold" and $36.50 target.
Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB - Get Free Report) Director Matthew Caras bought 760 shares of the firm's stock in a transaction on Tuesday, April 28th. The shares were acquired at an average price of $34.68 per share, for a total transaction of $26,356.80. Following the transaction, the director owned 22,894 shares in the company, valued at approximately $793,963.92. This represents a 3.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Bar Harbor Bankshares Stock Performance
Shares of NYSEAMERICAN:BHB opened at $35.20 on Wednesday. The company's 50 day moving average price is $33.15 and its two-hundred day moving average price is $32.14. Bar Harbor Bankshares, Inc. has a 12-month low of $28.06 and a 12-month high of $36.05. The firm has a market cap of $589.25 million, a PE ratio of 14.37 and a beta of 0.59. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.51.
Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.02. Bar Harbor Bankshares had a net margin of 15.90% and a return on equity of 11.11%. The firm had revenue of $47.29 million for the quarter, compared to analyst estimates of $48.22 million. Equities research analysts predict that Bar Harbor Bankshares, Inc. will post 3.67 earnings per share for the current year.
Bar Harbor Bankshares Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 21st will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Thursday, May 21st. This is a boost from Bar Harbor Bankshares's previous quarterly dividend of $0.32. Bar Harbor Bankshares's dividend payout ratio (DPR) is currently 44.91%.
Wall Street Analyst Weigh In
Separately, Piper Sandler boosted their price target on Bar Harbor Bankshares from $38.00 to $39.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $36.50.
Read Our Latest Analysis on BHB
Institutional Trading of Bar Harbor Bankshares
Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of Bar Harbor Bankshares during the 3rd quarter worth approximately $38,000. Clearstead Advisors LLC boosted its holdings in shares of Bar Harbor Bankshares by 192.6% in the 4th quarter. Clearstead Advisors LLC now owns 1,384 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 911 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Bar Harbor Bankshares in the 4th quarter valued at $48,000. CWM LLC boosted its holdings in shares of Bar Harbor Bankshares by 52.9% in the 4th quarter. CWM LLC now owns 1,778 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 615 shares in the last quarter. Finally, Mascoma Wealth Management LLC boosted its holdings in shares of Bar Harbor Bankshares by 677.9% in the 3rd quarter. Mascoma Wealth Management LLC now owns 2,427 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 2,115 shares in the last quarter. Institutional investors and hedge funds own 54.49% of the company's stock.
About Bar Harbor Bankshares
(
Get Free Report)
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.
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