J.W. Cole Advisors Inc. Reduces Stock Position in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

J.W. Cole Advisors Inc. decreased its holdings in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,325 shares of the financial services provider’s stock after selling 475 shares during the quarter. J.W. Cole Advisors Inc. owned 0.09% of Bar Harbor Bankshares worth $385,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. BNP Paribas Financial Markets lifted its position in shares of Bar Harbor Bankshares by 91.1% during the first quarter. BNP Paribas Financial Markets now owns 7,191 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 3,429 shares during the last quarter. SlateStone Wealth LLC acquired a new stake in shares of Bar Harbor Bankshares in the second quarter worth $201,000. Camden National Bank acquired a new position in shares of Bar Harbor Bankshares in the 4th quarter valued at about $203,000. Congress Wealth Management LLC DE purchased a new stake in Bar Harbor Bankshares in the 4th quarter worth approximately $231,000. Finally, Prosperity Consulting Group LLC purchased a new position in Bar Harbor Bankshares in the first quarter valued at $289,000. Institutional investors own 54.49% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler reaffirmed a “neutral” rating and issued a $33.00 price target on shares of Bar Harbor Bankshares in a research note on Thursday, September 5th.

Bar Harbor Bankshares Price Performance

Bar Harbor Bankshares stock opened at $31.68 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $483.75 million, a price-to-earnings ratio of 11.52 and a beta of 0.68. Bar Harbor Bankshares has a fifty-two week low of $23.18 and a fifty-two week high of $33.31.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Bar Harbor Bankshares had a net margin of 18.86% and a return on equity of 9.72%. The firm had revenue of $37.39 million during the quarter, compared to analyst estimates of $36.80 million. Research analysts anticipate that Bar Harbor Bankshares will post 2.68 earnings per share for the current fiscal year.

Bar Harbor Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date was Thursday, August 15th. Bar Harbor Bankshares’s dividend payout ratio is presently 43.64%.

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.