Bar Harbor Bankshares (NYSEAMERICAN:BHB) Given New $34.00 Price Target at Keefe, Bruyette & Woods

Bar Harbor Bankshares (NYSEAMERICAN:BHB) had its price target upped by Keefe, Bruyette & Woods from $30.00 to $34.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Separately, Piper Sandler reaffirmed a “neutral” rating and set 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 $35.96 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $549.11 million, a price-to-earnings ratio of 12.80 and a beta of 0.69. Bar Harbor Bankshares has a 52 week low of $23.26 and a 52 week high of $38.47.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.80 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $37.30 million. On average, equities analysts expect that Bar Harbor Bankshares will post 2.82 earnings per share for the current fiscal year.

Bar Harbor Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.34%. Bar Harbor Bankshares’s payout ratio is presently 43.17%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bailard Inc. boosted its position in Bar Harbor Bankshares by 118.3% during the second quarter. Bailard Inc. now owns 18,821 shares of the financial services provider’s stock valued at $506,000 after purchasing an additional 10,200 shares during the last quarter. SlateStone Wealth LLC acquired a new position in Bar Harbor Bankshares during the second quarter valued at approximately $201,000. Bank of New York Mellon Corp boosted its position in Bar Harbor Bankshares by 3.5% during 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 during the last quarter. Thrivent Financial for Lutherans boosted its position in Bar Harbor Bankshares by 196.1% during the third quarter. Thrivent Financial for Lutherans now owns 23,019 shares of the financial services provider’s stock valued at $710,000 after purchasing an additional 15,245 shares during the last quarter. Finally, Means Investment CO. Inc. boosted its position in 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 valued at $927,000 after purchasing an additional 3,685 shares during the last quarter. 54.49% of the stock is owned by institutional investors and hedge funds.

About Bar Harbor Bankshares

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.