Bar Harbor Bankshares (NYSE:BHB) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Analysts at Keefe, Bruyette & Woods have increased their price target for Bar Harbor Bankshares from $33.00 to $34.00, indicating a potential upside of 14.48% from its current price.
• Piper Sandler upgraded Bar Harbor Bankshares from a "neutral" to an "overweight" rating with a new price target of $35.00, while Zacks Research downgraded it from "strong-buy" to "hold".
• As of recent trading, Bar Harbor Bankshares' stock is down 1.9%, currently priced at $29.70, with a market cap of approximately $495.49 million.

Bar Harbor Bankshares (NYSE:BHB - Get Free Report) had its price target increased by research analysts at Keefe, Bruyette & Woods from $33.00 to $34.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 14.48% from the company's current price.

BHB has been the subject of a number of other research reports. Piper Sandler upgraded Bar Harbor Bankshares from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $34.00 to $35.00 in a research note on Tuesday, August 5th. Zacks Research downgraded shares of Bar Harbor Bankshares from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $34.50.

Bar Harbor Bankshares Stock Down 1.9%

NYSE BHB traded down $0.59 during trading hours on Thursday, reaching $29.70. 14,088 shares of the company were exchanged, compared to its average volume of 45,824. The firm has a 50 day simple moving average of $31.01. The company has a market cap of $495.49 million, a PE ratio of 12.80 and a beta of 0.71. Bar Harbor Bankshares has a 1 year low of $26.43 and a 1 year high of $38.47.

Institutional Trading of Bar Harbor Bankshares

Hedge funds and other institutional investors have recently modified their holdings of the business. CSM Advisors LLC acquired a new stake in shares of Bar Harbor Bankshares during the 2nd quarter valued at $2,690,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Bar Harbor Bankshares in the 1st quarter valued at about $2,260,000. Nuveen LLC bought a new position in Bar Harbor Bankshares in the 1st quarter valued at about $1,464,000. Delphi Management Inc. MA acquired a new stake in Bar Harbor Bankshares during the third quarter worth approximately $1,322,000. Finally, Trust Co. of Vermont boosted its position in Bar Harbor Bankshares by 67.7% in the second quarter. Trust Co. of Vermont now owns 73,332 shares of the company's stock worth $2,197,000 after purchasing an additional 29,606 shares during the last quarter. 54.49% of the stock is owned by hedge funds and other institutional investors.

Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides commercial, lending, retail, and wealth management banking services. 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.

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