State Street Corp Acquires 19,118 Shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB)

State Street Corp lifted its stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 362,823 shares of the financial services provider’s stock after purchasing an additional 19,118 shares during the period. State Street Corp owned about 2.38% of Bar Harbor Bankshares worth $11,189,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted 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 acquiring an additional 3,202 shares during the last quarter. American Century Companies Inc. increased its position in shares of Bar Harbor Bankshares by 23.7% during 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 in the last quarter. Prosperity Consulting Group LLC lifted its holdings in shares of Bar Harbor Bankshares by 34.8% during the 2nd quarter. Prosperity Consulting Group LLC now owns 14,689 shares of the financial services provider’s stock valued at $395,000 after purchasing an additional 3,790 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Bar Harbor Bankshares by 2.9% in the 2nd 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 in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 54.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BHB. Piper Sandler restated a “neutral” rating and set a $33.00 price objective on shares of Bar Harbor Bankshares in a report on Thursday, September 5th. Keefe, Bruyette & Woods upped their price target on shares of Bar Harbor Bankshares from $30.00 to $34.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Bar Harbor Bankshares Stock Down 0.1 %

NYSEAMERICAN:BHB opened at $31.25 on Thursday. The firm has a market capitalization of $477.19 million, a price-to-earnings ratio of 11.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 0.96. Bar Harbor Bankshares has a one year low of $23.26 and a one year high of $38.47.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.68 by $0.12. The firm had revenue of $58.23 million for the quarter, compared to analyst estimates of $37.30 million. Bar Harbor Bankshares had a return on equity of 9.66% and a net margin of 18.99%. Research analysts forecast that Bar Harbor Bankshares will post 2.82 earnings per share for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Thursday, November 14th. Bar Harbor Bankshares’s dividend payout ratio (DPR) is 43.17%.

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.