Camden National Bank bought a new position in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,925 shares of the financial services provider’s stock, valued at approximately $214,000.
Several other hedge funds have also modified their holdings of the business. Moors & Cabot Inc. acquired a new stake in shares of Bar Harbor Bankshares in the third quarter valued at about $214,000. Sky Investment Group LLC purchased a new position in Bar Harbor Bankshares in the third quarter valued at about $216,000. First Bancorp Inc ME acquired a new stake in shares of Bar Harbor Bankshares during the 3rd quarter valued at approximately $220,000. SlateStone Wealth LLC purchased a new stake in shares of Bar Harbor Bankshares during the 2nd quarter worth approximately $201,000. Finally, Algert Global LLC grew its holdings in shares of Bar Harbor Bankshares by 19.7% in the 2nd quarter. Algert Global LLC now owns 9,302 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 1,530 shares during the period. 54.49% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, Piper Sandler reaffirmed a “neutral” rating and set a $33.00 price objective on shares of Bar Harbor Bankshares in a report on Thursday, September 5th.
Bar Harbor Bankshares Price Performance
Shares of NYSEAMERICAN BHB opened at $35.97 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 0.96. Bar Harbor Bankshares has a 52 week low of $23.26 and a 52 week high of $38.47. The stock has a market capitalization of $549.26 million, a P/E ratio of 12.94 and a beta of 0.67.
Bar Harbor Bankshares (NYSEAMERICAN:BHB – Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.68 by $0.12. Bar Harbor Bankshares had a net margin of 18.99% and a return on equity of 9.66%. The business had revenue of $58.23 million for the quarter, compared to analyst estimates of $37.30 million. Equities research analysts forecast that Bar Harbor Bankshares will post 2.82 earnings per share for the current fiscal year.
Bar Harbor Bankshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, November 14th. Bar Harbor Bankshares’s payout ratio is 43.17%.
Bar Harbor Bankshares Profile
Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides banking and nonbanking products and services primarily to consumers and businesses. It accepts various deposit products, including interest-bearing and non-interest-bearing demand accounts, savings accounts, time deposits, and money market deposit accounts, as well as certificates of deposit.
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