37,900 Shares in Bar Harbor Bankshares, Inc. $BHB Acquired by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC bought 37,900 shares of Bar Harbor Bankshares in the fourth quarter, a position valued at about $1.18 million and representing roughly 0.23% of the company.
• Institutional interest remains strong, with 54.49% of Bar Harbor Bankshares owned by hedge funds and other institutional investors; several firms also recently increased or initiated positions.
• Bar Harbor Bankshares raised its quarterly dividend to $0.34 per share from $0.32, and Piper Sandler lifted its price target to $39 while maintaining an overweight rating.

International Assets Investment Management LLC purchased a new position in shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 37,900 shares of the financial services provider's stock, valued at approximately $1,177,000. International Assets Investment Management LLC owned about 0.23% of Bar Harbor Bankshares as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Coston McIsaac & Partners increased its holdings in Bar Harbor Bankshares by 83.2% during the 3rd quarter. Coston McIsaac & Partners now owns 75,974 shares of the financial services provider's stock worth $2,313,000 after purchasing an additional 34,493 shares during the period. Silverlake Wealth Management LLC purchased a new position in shares of Bar Harbor Bankshares in the 3rd quarter valued at $932,000. Rockland Trust Co. purchased a new position in shares of Bar Harbor Bankshares in the 3rd quarter valued at $459,000. LSV Asset Management increased its holdings in shares of Bar Harbor Bankshares by 24.7% in the 3rd quarter. LSV Asset Management now owns 92,550 shares of the financial services provider's stock valued at $2,819,000 after acquiring an additional 18,336 shares during the period. Finally, Financial Planning Hawaii Inc. purchased a new position in shares of Bar Harbor Bankshares in the 4th quarter valued at $400,000. 54.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their price objective on Bar Harbor Bankshares from $38.00 to $39.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $36.50.

Bar Harbor Bankshares Price Performance

Shares of NYSEAMERICAN BHB opened at $34.98 on Friday. The business's 50 day moving average price is $33.20 and its 200 day moving average price is $32.33. The firm has a market cap of $585.57 million, a P/E ratio of 14.28 and a beta of 0.61. Bar Harbor Bankshares, Inc. has a 52 week low of $28.06 and a 52 week high of $36.05. The company has a quick ratio of 0.96, a current ratio of 0.94 and a debt-to-equity ratio of 0.40.

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.02. The firm had revenue of $47.29 billion for the quarter, compared to analyst estimates of $48.22 million. Bar Harbor Bankshares had a return on equity of 10.95% and a net margin of 15.90%. On average, sell-side analysts expect that Bar Harbor Bankshares, Inc. will post 3.67 earnings per share for the current year.

Bar Harbor Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 21st will be issued a $0.34 dividend. This is a boost from Bar Harbor Bankshares's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $1.36 annualized dividend and a dividend yield of 3.9%. Bar Harbor Bankshares's payout ratio is presently 44.91%.

Insider Activity

In related news, Director Matthew L. Caras acquired 760 shares of the firm's stock in a transaction dated Tuesday, April 28th. The stock was acquired at an average price of $34.68 per share, with a total value of $26,356.80. Following the acquisition, the director directly owned 22,894 shares in the company, valued at $793,963.92. This represents a 3.43% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.37% of the stock is currently owned by company insiders.

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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