Bar Harbor Bankshares (NYSEAMERICAN:BHB) Sees Strong Trading Volume on Analyst Upgrade

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) shares saw unusually-strong trading volume on Monday after Piper Sandler upgraded the stock to a strong-buy rating. Approximately 489,589 shares traded hands during mid-day trading, an increase of 388% from the previous session’s volume of 100,402 shares.The stock last traded at $31.5250 and had previously closed at $31.17.

Institutional Trading of Bar Harbor Bankshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Bar Harbor Bankshares by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 879,482 shares of the financial services provider’s stock valued at $26,789,000 after purchasing an additional 5,239 shares during the period. Vanguard Group Inc. lifted its holdings in shares of 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 worth $26,338,000 after purchasing an additional 21,589 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Bar Harbor Bankshares by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 410,445 shares of the financial services provider’s stock worth $12,747,000 after purchasing an additional 34,306 shares during the period. American Century Companies Inc. grew its position in Bar Harbor Bankshares by 4.0% in the 2nd quarter. American Century Companies Inc. now owns 262,882 shares of the financial services provider’s stock valued at $7,876,000 after buying an additional 10,204 shares during the last quarter. Finally, Boston Partners grew its position in Bar Harbor Bankshares by 12.4% in the 4th quarter. Boston Partners now owns 146,360 shares of the financial services provider’s stock valued at $4,544,000 after buying an additional 16,156 shares during the last quarter. 54.49% of the stock is owned by hedge funds and other institutional investors.

Bar Harbor Bankshares Stock Down 3.2%

The company has a market capitalization of $518.77 million, a price-to-earnings ratio of 13.47 and a beta of 0.62. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The firm’s 50 day simple moving average is $33.27 and its 200-day simple moving average is $31.67.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. The business had revenue of $49.37 million for the quarter, compared to analyst estimates of $42.80 million. Bar Harbor Bankshares had a net margin of 15.13% and a return on equity of 10.48%. On average, sell-side analysts anticipate that Bar Harbor Bankshares, Inc. will post 2.84 EPS for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, February 20th will be given a $0.32 dividend. The ex-dividend date is Friday, February 20th. This represents a $1.28 annualized dividend and a yield of 4.1%. Bar Harbor Bankshares’s dividend payout ratio is presently 44.91%.

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.