International Assets Investment Management LLC Takes Position in Bar Harbor Bankshares, Inc. $BHB

International Assets Investment Management LLC acquired a new stake in Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 37,900 shares of the financial services provider’s stock, valued at approximately $1,177,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Bar Harbor Bankshares in the 3rd quarter valued at about $38,000. CWM LLC lifted 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 buying an additional 615 shares during the period. Mascoma Wealth Management LLC lifted 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 buying an additional 2,115 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Bar Harbor Bankshares in the 1st quarter valued at about $73,000. Finally, Raymond James Financial Inc. acquired a new position in Bar Harbor Bankshares in the 2nd quarter worth about $93,000. Institutional investors and hedge funds own 54.49% of the company’s stock.

Insider Buying and Selling

In other news, Director Matthew L. Caras acquired 760 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was bought at an average cost of $34.68 per share, for a total transaction of $26,356.80. Following the purchase, 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.37% of the company’s stock.

Bar Harbor Bankshares Stock Performance

NYSEAMERICAN BHB opened at $34.98 on Friday. The stock has a market capitalization of $585.57 million, a price-to-earnings ratio of 14.28 and a beta of 0.61. Bar Harbor Bankshares, Inc. has a twelve month low of $28.06 and a twelve month high of $36.05. The company has a current ratio of 0.94, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average of $33.20 and a 200 day moving average of $32.33.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The company had revenue of $47.29 billion during the quarter, compared to analysts’ expectations of $48.22 million. Bar Harbor Bankshares had a return on equity of 10.95% and a net margin of 15.90%. Sell-side analysts anticipate that Bar Harbor Bankshares, Inc. will post 3.67 EPS for the current fiscal year.

Bar Harbor Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.34 per share. This is an increase from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, May 21st. This represents a $1.36 annualized dividend and a yield of 3.9%. Bar Harbor Bankshares’s dividend payout ratio (DPR) is presently 44.91%.

Wall Street Analyst Weigh In

Separately, Piper Sandler upped their price target on Bar Harbor Bankshares from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.50.

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.