Bar Harbor Bankshares (NYSEAMERICAN:BHB) Sets New 12-Month High - Should You Buy?

Key Points

• Bar Harbor Bankshares reached a new 52-week high of $40.70, up 2.2%, with the stock last trading near $40.62.
• Analyst views are mixed: Piper Sandler raised its target to $44 and maintained an overweight rating, while Zacks Research downgraded the stock to strong sell. The overall consensus rating is Hold, with an average target price of $41.
• The company exceeded quarterly earnings expectations with EPS of $0.92 versus $0.90 forecast and declared a quarterly dividend of $0.34, representing a 3.4% annualized yield.

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $40.70 and last traded at $40.62, with a volume of 51943 shares trading hands. The stock had previously closed at $39.71.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BHB. Zacks Research lowered shares of Bar Harbor Bankshares from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Piper Sandler restated an "overweight" rating and set a $44.00 price target (up from $41.00) on shares of Bar Harbor Bankshares in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Bar Harbor Bankshares from $36.00 to $38.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Bar Harbor Bankshares currently has an average rating of "Hold" and an average target price of $41.00.

Bar Harbor Bankshares Stock Up 2.2%

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.40. The firm has a market cap of $679.23 million, a price-to-earnings ratio of 13.72 and a beta of 0.60. The firm has a fifty day moving average price of $37.16 and a 200-day moving average price of $34.86.

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $49.68 billion during the quarter, compared to the consensus estimate of $49.32 million. Bar Harbor Bankshares had a return on equity of 11.51% and a net margin of 18.46%. As a group, sell-side analysts forecast that Bar Harbor Bankshares, Inc. will post 3.6 EPS for the current year.

Bar Harbor Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Thursday, August 20th. Bar Harbor Bankshares's dividend payout ratio (DPR) is presently 47.72%.

Institutional Investors Weigh In On Bar Harbor Bankshares

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Focus Partners Wealth boosted its holdings in Bar Harbor Bankshares by 459.8% in the third quarter. Focus Partners Wealth now owns 90,870 shares of the financial services provider's stock worth $2,768,000 after purchasing an additional 74,638 shares in the last quarter. Renaissance Technologies LLC increased its stake in Bar Harbor Bankshares by 52.3% in the first quarter. Renaissance Technologies LLC now owns 184,284 shares of the financial services provider's stock valued at $5,980,000 after acquiring an additional 63,300 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Bar Harbor Bankshares during the 4th quarter worth approximately $1,408,000. UBS Group AG grew its holdings in shares of Bar Harbor Bankshares by 489.9% in the 3rd quarter. UBS Group AG now owns 48,087 shares of the financial services provider's stock worth $1,465,000 after purchasing an additional 39,935 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Bar Harbor Bankshares by 11.4% in the first quarter. The Manufacturers Life Insurance Company now owns 374,639 shares of the financial services provider's stock valued at $12,157,000 after acquiring an additional 38,274 shares during the last quarter. 54.49% of the stock is owned by institutional investors and hedge funds.

Bar Harbor Bankshares Company Profile

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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