Bar Harbor Bankshares (NYSEAMERICAN:BHB) Stock Position Reduced by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 23.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,791 shares of the financial services provider’s stock after selling 2,442 shares during the quarter. Hsbc Holdings PLC owned 0.05% of Bar Harbor Bankshares worth $202,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC grew its position in Bar Harbor Bankshares by 10.3% in the 2nd quarter. Renaissance Technologies LLC now owns 101,330 shares of the financial services provider’s stock worth $2,724,000 after purchasing an additional 9,500 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Bar Harbor Bankshares by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 865,524 shares of the financial services provider’s stock worth $23,264,000 after purchasing an additional 24,718 shares during the period. Prosperity Consulting Group LLC lifted its position in Bar Harbor Bankshares by 34.8% in the second quarter. Prosperity Consulting Group LLC now owns 14,689 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 3,790 shares during the period. American Century Companies Inc. lifted its position in Bar Harbor Bankshares by 23.7% in the second quarter. American Century Companies Inc. now owns 213,136 shares of the financial services provider’s stock worth $5,729,000 after purchasing an additional 40,891 shares during the period. Finally, SlateStone Wealth LLC bought a new position in Bar Harbor Bankshares during the 2nd quarter valued at $201,000. 54.49% of the stock is currently owned by institutional investors.

Bar Harbor Bankshares Stock Performance

Shares of NYSEAMERICAN:BHB opened at $29.30 on Friday. Bar Harbor Bankshares has a 52 week low of $23.18 and a 52 week high of $33.31. The company has a market capitalization of $447.41 million, a P/E ratio of 10.65 and a beta of 0.68. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.00 and a quick ratio of 1.00.

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

Bar Harbor Bankshares Dividend Announcement

The firm 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 annualized dividend and a yield of 4.10%. The ex-dividend date was Thursday, August 15th. Bar Harbor Bankshares’s dividend payout ratio (DPR) is presently 43.64%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler restated a “neutral” rating and issued a $33.00 price objective on shares of Bar Harbor Bankshares in a report on Thursday, September 5th.

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.