Bar Harbor Wealth Management Raises Stock Holdings in Bar Harbor Bankshares $BHB

Key Points

• Bar Harbor Wealth Management increased its stake in Bar Harbor Bankshares by 4.2%, owning 477,541 shares valued at approximately $14.3 million as of the latest SEC filing.
• The stock of Bar Harbor Bankshares has shown a 52-week low of $26.43 and a high of $38.47, currently trading at $29.85.
• Analyst ratings for Bar Harbor Bankshares vary, with one downgrade from Zacks to a "hold" and an upgrade from Piper Sandler to an "overweight" status, lifting the target price to $35.

Bar Harbor Wealth Management raised its position in shares of Bar Harbor Bankshares (NYSE:BHB - Free Report) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 477,541 shares of the company's stock after acquiring an additional 19,065 shares during the period. Bar Harbor Wealth Management owned approximately 3.12% of Bar Harbor Bankshares worth $14,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Trust Co. of Vermont raised its holdings in shares of Bar Harbor Bankshares by 67.7% during the 2nd quarter. Trust Co. of Vermont now owns 73,332 shares of the company's stock worth $2,197,000 after acquiring an additional 29,606 shares in the last quarter. Westhampton Capital LLC raised its holdings in shares of Bar Harbor Bankshares by 44.5% during the 2nd quarter. Westhampton Capital LLC now owns 15,575 shares of the company's stock worth $467,000 after acquiring an additional 4,800 shares in the last quarter. Strs Ohio purchased a new stake in shares of Bar Harbor Bankshares during the 1st quarter worth approximately $327,000. Acadian Asset Management LLC purchased a new stake in shares of Bar Harbor Bankshares during the 1st quarter worth approximately $73,000. Finally, Jane Street Group LLC bought a new position in shares of Bar Harbor Bankshares during the 1st quarter valued at approximately $522,000. 54.49% of the stock is owned by hedge funds and other institutional investors.

Bar Harbor Bankshares Trading Down 1.0%

BHB opened at $29.85 on Thursday. The firm's fifty day simple moving average is $31.19. Bar Harbor Bankshares has a 52-week low of $26.43 and a 52-week high of $38.47. The stock has a market cap of $497.99 million, a PE ratio of 11.57 and a beta of 0.71.

Bar Harbor Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Thursday, August 14th were issued 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 4.3%. Bar Harbor Bankshares's payout ratio is presently 49.61%.

Wall Street Analysts Forecast Growth

BHB has been the topic of several analyst reports. Zacks Research downgraded Bar Harbor Bankshares from a "strong-buy" rating to a "hold" rating in a research report on Monday. Piper Sandler raised Bar Harbor Bankshares from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $34.00 to $35.00 in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Bar Harbor Bankshares currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

Bar Harbor Bankshares Company Profile

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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