Bar Harbor Bankshares (NYSEAMERICAN:BHB) Sees Unusually-High Trading Volume – Here’s What Happened
by Sarita Garza · The Markets DailyBar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB – Get Free Report) shares saw an uptick in trading volume on Monday . 489,589 shares changed hands during 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.
Analysts Set New Price Targets
Separately, Piper Sandler began coverage on shares of Bar Harbor Bankshares in a report on Monday. They issued an “overweight” rating and a $38.00 target price on the stock. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.00.
Check Out Our Latest Stock Report on Bar Harbor Bankshares
Bar Harbor Bankshares Stock Performance
The stock has a market capitalization of $526.24 million, a price-to-earnings ratio of 13.71 and a beta of 0.62. The company has a 50 day simple moving average of $33.27 and a 200-day simple moving average of $31.68. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.37.
Bar Harbor Bankshares (NYSEAMERICAN:BHB – Get Free Report) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04. Bar Harbor Bankshares had a net margin of 15.13% and a return on equity of 10.73%. The company had revenue of $49.37 million during the quarter, compared to the consensus estimate of $42.80 million. As a group, equities research analysts expect that Bar Harbor Bankshares, Inc. will post 2.84 EPS for the current fiscal year.
Bar Harbor Bankshares Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, February 20th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, February 20th. Bar Harbor Bankshares’s payout ratio is 44.91%.
Institutional Trading of Bar Harbor Bankshares
Large investors have recently made changes to their positions in the company. Delphi Management Inc. MA acquired a new stake in Bar Harbor Bankshares in the third quarter valued at approximately $1,322,000. Coston McIsaac & Partners raised its position in shares of Bar Harbor Bankshares by 83.2% during the third quarter. Coston McIsaac & Partners now owns 75,974 shares of the financial services provider’s stock worth $2,313,000 after purchasing an additional 34,493 shares during the period. Silverlake Wealth Management LLC bought a new position in shares of Bar Harbor Bankshares in the 3rd quarter worth $932,000. LSV Asset Management grew its position in Bar Harbor Bankshares by 34.3% in the 2nd quarter. LSV Asset Management now owns 74,214 shares of the financial services provider’s stock valued at $2,223,000 after purchasing an additional 18,964 shares during the period. Finally, Geode Capital Management LLC grew its position in Bar Harbor Bankshares by 5.3% in the 2nd quarter. Geode Capital Management LLC now owns 365,258 shares of the financial services provider’s stock valued at $10,945,000 after purchasing an additional 18,306 shares during the period. 54.49% of the stock is currently owned by institutional investors and hedge funds.
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.