Bar Harbor Bankshares $BHB Shares Acquired by Trust Co. of Vermont

Key Points

• Trust Co. of Vermont increased its stake in Bar Harbor Bankshares by 67.7%, owning 73,332 shares worth approx. $2.2 million by the end of Q2.
• Analysts have upgraded Bar Harbor Bankshares from a "neutral" to an "overweight" rating, raising the target price to $35.00.
• The company announced a quarterly dividend of $0.32 per share, resulting in an annualized yield of 4.2%.

Trust Co. of Vermont lifted its position in shares of Bar Harbor Bankshares (NYSE:BHB - Free Report) by 67.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,332 shares of the company's stock after acquiring an additional 29,606 shares during the quarter. Trust Co. of Vermont owned 0.48% of Bar Harbor Bankshares worth $2,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Bar Harbor Bankshares by 1.7% during the first quarter. Vanguard Group Inc. now owns 807,331 shares of the company's stock worth $23,816,000 after buying an additional 13,243 shares during the period. Bridgeway Capital Management LLC grew its position in Bar Harbor Bankshares by 3.9% during the first quarter. Bridgeway Capital Management LLC now owns 100,510 shares of the company's stock worth $2,965,000 after buying an additional 3,754 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in Bar Harbor Bankshares during the first quarter worth about $2,260,000. Royal Bank of Canada grew its position in Bar Harbor Bankshares by 11.1% during the first quarter. Royal Bank of Canada now owns 50,501 shares of the company's stock worth $1,490,000 after buying an additional 5,036 shares during the period. Finally, Nuveen LLC acquired a new position in Bar Harbor Bankshares during the first quarter worth about $1,464,000. 54.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Piper Sandler upgraded shares of Bar Harbor Bankshares from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $34.00 to $35.00 in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $35.00.

Bar Harbor Bankshares Stock Up 0.1%

BHB stock opened at $30.50 on Thursday. The firm has a 50 day simple moving average of $31.18. The firm has a market capitalization of $508.83 million, a price-to-earnings ratio of 11.82 and a beta of 0.71. Bar Harbor Bankshares has a 12 month low of $26.43 and a 12 month high of $38.47.

Bar Harbor Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Thursday, August 14th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 4.2%. Bar Harbor Bankshares's dividend payout ratio (DPR) is 49.61%.

About Bar Harbor Bankshares

Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides commercial, lending, retail, and wealth management banking services. It accepts various deposit products, including interest-bearing and non-interest-bearing demand accounts, savings accounts, time deposits, and money market deposit accounts, as well as certificates of deposit.

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