Coston McIsaac & Partners Trims Stock Position in Bar Harbor Bankshares, Inc. $BHB

Key Points

• Coston McIsaac & Partners trimmed its stake in Bar Harbor Bankshares by 46.7% in Q4, selling 35,456 shares and leaving 40,518 shares worth roughly $1.26 million (about 0.24% ownership).
• Dividend raised: Bar Harbor increased its quarterly dividend to $0.34 (annualized $1.36) for a yield of 3.9%, with an ex-dividend date of May 21 and payment on June 18.
• Operational and analyst signals: The company reported Q results with $0.88 EPS versus $0.86 expected, and Piper Sandler raised its target to $39 with an "overweight" rating (consensus target ~$36.50).

Coston McIsaac & Partners lessened its stake in shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB - Free Report) by 46.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,518 shares of the financial services provider's stock after selling 35,456 shares during the quarter. Coston McIsaac & Partners owned about 0.24% of Bar Harbor Bankshares worth $1,257,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BHB. Russell Investments Group Ltd. acquired a new position in shares of Bar Harbor Bankshares in the 3rd quarter valued at $38,000. CWM LLC increased its holdings in shares of Bar Harbor Bankshares by 52.9% in the 4th quarter. CWM LLC now owns 1,778 shares of the financial services provider's stock valued at $55,000 after acquiring an additional 615 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Bar Harbor Bankshares in the 1st quarter valued at $73,000. Mascoma Wealth Management LLC increased its holdings in shares of Bar Harbor Bankshares by 677.9% in the 3rd quarter. Mascoma Wealth Management LLC now owns 2,427 shares of the financial services provider's stock valued at $74,000 after acquiring an additional 2,115 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Bar Harbor Bankshares in the 2nd quarter valued at $93,000. Hedge funds and other institutional investors own 54.49% of the company's stock.

Bar Harbor Bankshares Stock Performance

Shares of Bar Harbor Bankshares stock opened at $34.92 on Friday. The firm's fifty day simple moving average is $33.20 and its 200-day simple moving average is $32.33. The stock has a market capitalization of $584.56 million, a price-to-earnings ratio of 14.25 and a beta of 0.61. Bar Harbor Bankshares, Inc. has a 12 month low of $28.06 and a 12 month high of $36.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.94 and a quick ratio of 0.96.

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) last announced 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 business had revenue of $47.29 billion for the quarter, compared to analysts' expectations of $48.22 million. Bar Harbor Bankshares had a net margin of 15.90% and a return on equity of 10.95%. As a group, equities analysts forecast that Bar Harbor Bankshares, Inc. will post 3.67 earnings per share for the current year.

Bar Harbor Bankshares Increases Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Bar Harbor Bankshares

In other news, Director Matthew L. Caras acquired 760 shares of the company's stock in a transaction on Tuesday, April 28th. The shares were bought at an average cost of $34.68 per share, with a total value of $26,356.80. Following the purchase, the director owned 22,894 shares of the company's stock, valued at $793,963.92. This represents a 3.43% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.37% of the company's stock.

About Bar Harbor Bankshares

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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