Thrivent Financial for Lutherans Raises Holdings in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Thrivent Financial for Lutherans lifted its holdings in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 196.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,019 shares of the financial services provider’s stock after acquiring an additional 15,245 shares during the quarter. Thrivent Financial for Lutherans owned 0.15% of Bar Harbor Bankshares worth $710,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the stock. Naples Global Advisors LLC increased its holdings in shares of Bar Harbor Bankshares by 2.1% during the second quarter. Naples Global Advisors LLC now owns 40,706 shares of the financial services provider’s stock valued at $1,094,000 after purchasing an additional 820 shares during the period. Algert Global LLC raised its position in shares of Bar Harbor Bankshares by 19.7% during the second quarter. Algert Global LLC now owns 9,302 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 1,530 shares during the period. Empowered Funds LLC lifted its stake in Bar Harbor Bankshares by 5.2% during the third quarter. Empowered Funds LLC now owns 43,633 shares of the financial services provider’s stock valued at $1,346,000 after buying an additional 2,144 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Bar Harbor Bankshares by 3.5% in the second 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 purchasing an additional 3,202 shares in the last quarter. Finally, Means Investment CO. Inc. boosted its holdings in shares of Bar Harbor Bankshares by 14.0% during the third quarter. Means Investment CO. Inc. now owns 30,072 shares of the financial services provider’s stock worth $927,000 after purchasing an additional 3,685 shares during the period. 54.49% of the stock is owned by institutional investors and hedge funds.

Bar Harbor Bankshares Trading Down 1.5 %

Shares of NYSEAMERICAN:BHB opened at $35.48 on Wednesday. Bar Harbor Bankshares has a fifty-two week low of $23.26 and a fifty-two week high of $38.47. The firm has a market capitalization of $541.78 million, a price-to-earnings ratio of 12.87 and a beta of 0.69. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.12. Bar Harbor Bankshares had a return on equity of 9.66% and a net margin of 18.99%. The company had revenue of $58.23 million during the quarter, compared to analyst estimates of $37.30 million. Sell-side analysts predict that Bar Harbor Bankshares will post 2.82 EPS for the current year.

Bar Harbor Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.38%. Bar Harbor Bankshares’s payout ratio is presently 43.17%.

Wall Street Analyst Weigh In

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

Bar Harbor Bankshares Company 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.