Bar Harbor Bankshares (NYSEAMERICAN:BHB) Releases Earnings Results, Beats Estimates By $0.11 EPS

Key Points

• Bar Harbor Bankshares beat quarterly expectations: The company reported $1.04 in EPS versus the $0.93 consensus estimate and revenue of $51.49 million, above expectations of $50.17 million.
• Shares rose 2.1% to $39.47 following the results. The stock has a market capitalization of approximately $661.9 million and has traded between $28.50 and $41.12 over the past year.
• Analysts remain generally cautious: The consensus rating is “Hold,” with an average price target of $41.00, although Piper Sandler raised its target to $44.00 and maintained an “overweight” rating.

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) issued its quarterly earnings results on Thursday. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11, FiscalAI reports. The firm had revenue of $51.49 million during the quarter, compared to analyst estimates of $50.17 million. Bar Harbor Bankshares had a net margin of 18.46% and a return on equity of 11.41%.

Bar Harbor Bankshares Stock Up 2.1%

Shares of BHB stock traded up $0.81 during trading hours on Thursday, hitting $39.47. 74,819 shares of the company were exchanged, compared to its average volume of 108,411. 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 $661.91 million, a price-to-earnings ratio of 13.33 and a beta of 0.63. Bar Harbor Bankshares has a one year low of $28.50 and a one year high of $41.12. The business's 50-day simple moving average is $39.45 and its two-hundred day simple moving average is $37.48.

Analysts Set New Price Targets

BHB has been the subject of a number of research analyst reports. Piper Sandler reissued an "overweight" rating and set a $44.00 target price (up from $41.00) on shares of Bar Harbor Bankshares in a research report on Tuesday, July 28th. Zacks Research upgraded Bar Harbor Bankshares from a "strong sell" rating to a "hold" rating in a research note on Friday, September 25th. Finally, Keefe, Bruyette & Woods boosted their price target on Bar Harbor Bankshares from $36.00 to $38.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $41.00.

About Bar Harbor Bankshares

Bar Harbor Bankshares (NYSE American: BHB) is a bank holding company for Bar Harbor Bank & Trust, a community banking institution headquartered in Bar Harbor, Maine. The bank traces its roots to 1887 and serves individuals, families, businesses and nonprofit organizations through a network of banking offices and digital channels.

Bar Harbor Bank & Trust provides a range of financial services, including checking and savings accounts, certificates of deposit, consumer and residential lending, commercial loans, cash-management services and online and mobile banking.

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