Bangor Savings Bank Lowers Holdings in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Bangor Savings Bank trimmed its holdings in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 5.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,175 shares of the financial services provider’s stock after selling 450 shares during the quarter. Bangor Savings Bank owned 0.05% of Bar Harbor Bankshares worth $252,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Bar Harbor Bankshares by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 865,524 shares of the financial services provider’s stock worth $23,264,000 after acquiring an additional 24,718 shares in the last quarter. Vanguard Group Inc. lifted its stake in Bar Harbor Bankshares by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 769,738 shares of the financial services provider’s stock valued at $20,383,000 after buying an additional 11,091 shares in the last quarter. American Century Companies Inc. lifted its stake in Bar Harbor Bankshares by 23.7% in the 2nd quarter. American Century Companies Inc. now owns 213,136 shares of the financial services provider’s stock valued at $5,729,000 after buying an additional 40,891 shares in the last quarter. Renaissance Technologies LLC lifted its stake 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 valued at $2,724,000 after buying an additional 9,500 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Bar Harbor Bankshares by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 94,240 shares of the financial services provider’s stock valued at $2,533,000 after buying an additional 3,202 shares in the last quarter. 54.49% of the stock is owned by hedge funds and other institutional investors.

Bar Harbor Bankshares Trading Up 0.3 %

Bar Harbor Bankshares stock opened at $29.14 on Wednesday. Bar Harbor Bankshares has a fifty-two week low of $23.18 and a fifty-two week high of $33.31. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $444.97 million, a P/E ratio of 10.60 and a beta of 0.68.

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). Bar Harbor Bankshares had a net margin of 18.86% and a return on equity of 9.72%. The company had revenue of $37.39 million during the quarter, compared to analyst estimates of $36.80 million. As a group, equities research analysts anticipate that Bar Harbor Bankshares will post 2.68 earnings per share for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 4.12%. Bar Harbor Bankshares’s dividend payout ratio is presently 43.64%.

Analysts Set New Price Targets

Separately, Piper Sandler reiterated 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.