29,933 Shares in Bar Harbor Bankshares, Inc. $BHB Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC acquired 29,933 shares of Bar Harbor Bankshares during the second quarter, worth approximately $1.14 million and representing about 0.18% of the company. Institutional investors and hedge funds collectively own 54.49% of BHB.
• Bar Harbor Bankshares reported quarterly earnings of $0.92 per share, exceeding estimates of $0.90, while revenue of $49.68 million also topped forecasts.
• The company declared a quarterly dividend of $0.34 per share, equivalent to an annualized dividend of $1.36 and a 3.5% yield. Analyst sentiment remains mixed, with a consensus “Hold” rating and a $41 target price.

Hsbc Holdings PLC acquired a new stake in 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 firm acquired 29,933 shares of the financial services provider's stock, valued at approximately $1,137,000. Hsbc Holdings PLC owned about 0.18% of Bar Harbor Bankshares as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Bar Harbor Bankshares in the 2nd quarter worth about $61,092,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Bar Harbor Bankshares in the second quarter valued at approximately $14,061,000. Bank of New York Mellon Corp bought a new stake in shares of Bar Harbor Bankshares during the second quarter valued at approximately $3,291,000. Trust Co. of Vermont bought a new stake in shares of Bar Harbor Bankshares during the second quarter valued at approximately $2,885,000. Finally, Focus Partners Wealth boosted its position in shares of Bar Harbor Bankshares by 459.8% during the third quarter. Focus Partners Wealth now owns 90,870 shares of the financial services provider's stock worth $2,768,000 after buying an additional 74,638 shares during the period. 54.49% of the stock is owned by institutional investors and hedge funds.

Bar Harbor Bankshares Stock Down 0.4%

Bar Harbor Bankshares stock opened at $39.23 on Tuesday. Bar Harbor Bankshares, Inc. has a 52 week low of $28.11 and a 52 week high of $41.08. The stock has a market cap of $657.89 million, a price-to-earnings ratio of 13.25 and a beta of 0.60. The company's 50-day moving average price is $38.91 and its two-hundred day moving average price is $35.77. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51.

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The company had revenue of $49.68 million during the quarter, compared to analyst estimates of $49.32 million. Bar Harbor Bankshares had a net margin of 18.46% and a return on equity of 11.41%. On average, analysts expect 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. Investors of record on Thursday, August 20th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.36 annualized dividend and a yield of 3.5%. Bar Harbor Bankshares's payout ratio is presently 47.72%.

Analyst Upgrades and Downgrades

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

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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