27,609 Shares in Bar Harbor Bankshares, Inc. $BHB Acquired by Silverlake Wealth Management LLC

Key Points

• Silverlake Wealth Management acquired 27,609 shares of Bar Harbor Bankshares valued at approximately $1.04 million, giving it a 0.16% stake. Institutional investors and hedge funds collectively own 54.49% of the company.
• Analyst views remain mixed: Piper Sandler raised its price target to $44 with an overweight rating, while Zacks downgraded the stock to strong sell; the consensus rating is Hold with a $41 average target.
• Bar Harbor Bankshares exceeded quarterly earnings expectations with $0.92 EPS versus $0.90 forecast and announced a $0.34 quarterly dividend, equivalent to a 3.3% yield.

Silverlake Wealth Management LLC acquired a new position in shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 27,609 shares of the financial services provider's stock, valued at approximately $1,043,000. Silverlake Wealth Management LLC owned approximately 0.16% of Bar Harbor Bankshares as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in shares of Bar Harbor Bankshares in the third quarter worth $38,000. Clearstead Advisors LLC grew its holdings in shares of Bar Harbor Bankshares by 192.6% during the fourth quarter. Clearstead Advisors LLC now owns 1,384 shares of the financial services provider's stock valued at $43,000 after buying an additional 911 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Bar Harbor Bankshares during the fourth quarter valued at $48,000. CWM LLC raised its position in Bar Harbor Bankshares by 52.9% during the fourth quarter. CWM LLC now owns 1,778 shares of the financial services provider's stock valued at $55,000 after buying an additional 615 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Bar Harbor Bankshares during the first quarter valued at $73,000. 54.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on BHB. Piper Sandler restated an "overweight" rating and set a $44.00 price objective (up from $41.00) on shares of Bar Harbor Bankshares in a research report on Tuesday, July 28th. Zacks Research downgraded Bar Harbor Bankshares from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods increased their price target on shares of 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 analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $41.00.

Bar Harbor Bankshares Trading Down 0.0%

Bar Harbor Bankshares stock opened at $40.62 on Friday. Bar Harbor Bankshares, Inc. has a 12 month low of $28.11 and a 12 month high of $41.08. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.51. The stock has a market cap of $681.20 million, a P/E ratio of 13.72 and a beta of 0.60. The company's fifty day simple moving average is $38.20 and its 200-day simple moving average is $35.36.

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $49.68 million during the quarter, compared to analyst estimates of $49.32 million. Bar Harbor Bankshares had a return on equity of 11.41% 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 fiscal year.

Bar Harbor Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, August 20th. Bar Harbor Bankshares's dividend payout ratio is presently 47.72%.

Bar Harbor Bankshares 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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