76,391 Shares in Bar Harbor Bankshares, Inc. $BHB Bought by Trust Co. of Vermont

Key Points

• Trust Co. of Vermont acquired 76,391 shares of Bar Harbor Bankshares in the second quarter, valued at approximately $2.9 million and representing 0.46% of the company. Institutional investors collectively own 54.49% of BHB.
• Bar Harbor Bankshares reported quarterly EPS of $0.92, beating estimates by $0.02, while revenue of $49.68 million also exceeded expectations. The company declared a quarterly dividend of $0.34 per share, equating to a 3.4% yield.
• Analyst sentiment is mixed, with ratings ranging from strong sell to overweight; the average rating is Hold and the average price target is $41.00, compared with the stock’s reported price of $40.33.

Trust Co. of Vermont acquired a new stake in Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 76,391 shares of the financial services provider's stock, valued at approximately $2,885,000. Trust Co. of Vermont owned 0.46% of Bar Harbor Bankshares as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Bar Harbor Bankshares by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,945 shares of the financial services provider's stock worth $264,000 after buying an additional 390 shares during the period. Rhumbline Advisers increased its stake in shares of Bar Harbor Bankshares by 1.9% in the second quarter. Rhumbline Advisers now owns 23,420 shares of the financial services provider's stock valued at $702,000 after buying an additional 446 shares during the period. CWM LLC raised its position in shares of Bar Harbor Bankshares by 52.9% during the fourth quarter. CWM LLC now owns 1,778 shares of the financial services provider's stock worth $55,000 after acquiring an additional 615 shares during the last quarter. Rockland Trust Co. raised its position in shares of Bar Harbor Bankshares by 4.0% during the second quarter. Rockland Trust Co. now owns 18,481 shares of the financial services provider's stock worth $698,000 after acquiring an additional 715 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Bar Harbor Bankshares by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 83,681 shares of the financial services provider's stock worth $2,715,000 after acquiring an additional 753 shares during the period. 54.49% of the stock is owned by institutional investors.

Bar Harbor Bankshares Stock Performance

BHB stock opened at $40.33 on Tuesday. The firm has a market cap of $676.33 million, a PE ratio of 13.62 and a beta of 0.60. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $38.29 and a 200-day moving average price of $35.42. Bar Harbor Bankshares, Inc. has a 1-year low of $28.11 and a 1-year high of $41.08.

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. Bar Harbor Bankshares had a return on equity of 11.41% and a net margin of 18.46%.The company had revenue of $49.68 million for the quarter, compared to analyst estimates of $49.32 million. As a group, equities research analysts expect that Bar Harbor Bankshares, Inc. will post 3.6 earnings per share for the current year.

Bar Harbor Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Thursday, August 20th. Bar Harbor Bankshares's dividend payout ratio is presently 47.72%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BHB. Keefe, Bruyette & Woods upped their target price on Bar Harbor Bankshares from $36.00 to $38.00 and gave the company a "market perform" rating in a report on Wednesday, July 22nd. Piper Sandler restated an "overweight" rating and issued a $44.00 price target (up from $41.00) on shares of Bar Harbor Bankshares in a research report on Tuesday, July 28th. Finally, Zacks Research lowered shares of Bar Harbor Bankshares from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target 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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