Bar Harbor Bankshares (NYSEAMERICAN:BHB) Director Acquires $26,356.80 in Stock

Key Points

• Director Matthew Caras bought 760 shares at an average of $34.68 (totaling $26,356.80), bringing his stake to 22,894 shares — a 3.43% increase in ownership.
• Bar Harbor Bankshares raised its quarterly dividend to $0.34 (annualized $1.36) for a 3.9% yield; the ex-dividend date is May 21 and payment is June 18.
• The company reported quarterly EPS of $0.88, beating estimates by $0.02 while revenue slightly missed, and Piper Sandler raised its target to $39 amid a market consensus rating of "Hold."

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB - Get Free Report) Director Matthew Caras purchased 760 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were acquired at an average cost of $34.68 per share, with a total value of $26,356.80. Following the completion of the transaction, the director owned 22,894 shares in the company, valued at $793,963.92. This trade represents a 3.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Bar Harbor Bankshares Stock Up 2.4%

Shares of Bar Harbor Bankshares stock traded up $0.83 during midday trading on Tuesday, hitting $35.20. The company had a trading volume of 97,284 shares, compared to its average volume of 114,306. Bar Harbor Bankshares, Inc. has a 52-week low of $28.06 and a 52-week high of $36.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $589.25 million, a P/E ratio of 14.37 and a beta of 0.59. The company has a 50 day moving average of $33.15 and a 200 day moving average of $32.09.

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) last released its earnings results on Tuesday, April 21st. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.86 by $0.02. Bar Harbor Bankshares had a return on equity of 11.11% and a net margin of 15.90%.The business had revenue of $47.29 million for the quarter, compared to the consensus estimate of $48.22 million. On average, equities analysts predict that Bar Harbor Bankshares, Inc. will post 3.67 earnings per share for the current fiscal year.

Bar Harbor Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 21st will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.9%. This is an increase from Bar Harbor Bankshares's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, May 21st. Bar Harbor Bankshares's payout ratio is 44.91%.

Hedge Funds Weigh In On Bar Harbor Bankshares

Several hedge funds and other institutional investors have recently bought and sold shares of BHB. Inspire Investing LLC boosted its holdings in shares of Bar Harbor Bankshares by 5.0% during the 1st quarter. Inspire Investing LLC now owns 15,769 shares of the financial services provider's stock valued at $512,000 after acquiring an additional 757 shares during the last quarter. Coston McIsaac & Partners raised its holdings in shares of Bar Harbor Bankshares by 85.8% during the first quarter. Coston McIsaac & Partners now owns 75,289 shares of the financial services provider's stock valued at $2,443,000 after purchasing an additional 34,771 shares during the last quarter. Hsbc Holdings PLC bought a new position in Bar Harbor Bankshares during the fourth quarter valued at approximately $559,000. Corient Private Wealth LLC bought a new position in Bar Harbor Bankshares during the fourth quarter valued at approximately $206,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Bar Harbor Bankshares in the fourth quarter worth approximately $1,408,000. Institutional investors own 54.49% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler increased their target price on Bar Harbor Bankshares from $38.00 to $39.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $36.50.

About Bar Harbor Bankshares

Bar Harbor Bankshares, Inc is a bank holding company headquartered in Ellsworth, Maine, and the parent of Bar Harbor Bank & Trust. The company provides a full suite of commercial and consumer banking products and services, including deposit accounts, residential and commercial lending, wealth management, treasury and cash management, and online and mobile banking solutions. Its subsidiary, Bar Harbor Bank & Trust, operates branches across Maine and eastern New Hampshire, serving both individual and business clients with a focus on community banking relationships.

With roots tracing back to the late 19th century, Bar Harbor Bankshares has built its presence along the coast of Maine, extending from Casco Bay to Downeast communities, and into neighboring New Hampshire markets.

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