Geode Capital Management LLC Acquires 3,602 Shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Geode Capital Management LLC boosted its stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 335,432 shares of the financial services provider’s stock after acquiring an additional 3,602 shares during the period. Geode Capital Management LLC owned 2.20% of Bar Harbor Bankshares worth $10,348,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings 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 during the period. State Street Corp boosted its position in shares of Bar Harbor Bankshares by 5.6% during the third quarter. State Street Corp now owns 362,823 shares of the financial services provider’s stock valued at $11,189,000 after purchasing an additional 19,118 shares in the last quarter. American Century Companies Inc. boosted 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 valued at $5,729,000 after purchasing an additional 40,891 shares in the last quarter. Renaissance Technologies LLC grew its stake in Bar Harbor Bankshares by 10.3% in the second 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 period. Finally, Foundry Partners LLC raised its holdings in Bar Harbor Bankshares by 0.9% in the third quarter. Foundry Partners LLC now owns 94,435 shares of the financial services provider’s stock worth $2,912,000 after purchasing an additional 870 shares in the last quarter. 54.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BHB has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of Bar Harbor Bankshares from $30.00 to $34.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler reissued a “neutral” rating and set a $33.00 price objective on shares of Bar Harbor Bankshares in a research note on Thursday, September 5th.

Bar Harbor Bankshares Trading Up 1.0 %

Shares of NYSEAMERICAN:BHB opened at $30.58 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.96 and a quick ratio of 0.96. Bar Harbor Bankshares has a 12-month low of $23.26 and a 12-month high of $38.47. The firm has a market cap of $466.96 million, a price-to-earnings ratio of 11.00 and a beta of 0.69.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $58.23 million during the quarter, compared to analyst estimates of $37.30 million. Research analysts predict 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 paid a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.92%. Bar Harbor Bankshares’s dividend payout ratio is presently 43.17%.

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.