De Lisle Partners LLP Purchases New Holdings in Bar Harbor Bankshares, Inc. $BHB

Key Points

• De Lisle Partners LLP purchased 32,738 shares of Bar Harbor Bankshares worth approximately $1.24 million, giving it a 0.20% stake. Institutional investors collectively own 54.49% of the company.
• Bar Harbor Bankshares reported quarterly EPS of $0.92, surpassing the $0.90 consensus estimate, while revenue of $49.68 million also exceeded expectations.
• The company declared a quarterly dividend of $0.34, representing a 3.4% annualized yield. Analyst opinions remain mixed, with an overall “Hold” consensus and an average price target of $41.00.

De Lisle Partners LLP purchased a new position in shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 32,738 shares of the financial services provider's stock, valued at approximately $1,236,000. De Lisle Partners LLP owned 0.20% of Bar Harbor Bankshares at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BHB. BlackRock Inc. bought a new position in Bar Harbor Bankshares in the 2nd quarter valued at $61,092,000. Deutsche Bank AG bought a new stake in shares of Bar Harbor Bankshares during the 2nd quarter worth $613,000. Trust Co. of Vermont bought a new stake in shares of Bar Harbor Bankshares during the 2nd quarter worth $2,885,000. Silverlake Wealth Management LLC bought a new stake in shares of Bar Harbor Bankshares during the 2nd quarter worth $1,043,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Bar Harbor Bankshares in the 2nd quarter worth about $3,291,000. Hedge funds and other institutional investors own 54.49% of the company's stock.

Bar Harbor Bankshares Price Performance

Shares of NYSEAMERICAN BHB opened at $39.65 on Friday. 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 fifty day simple moving average of $38.54 and a two-hundred day simple moving average of $35.59. Bar Harbor Bankshares, Inc. has a 1-year low of $28.11 and a 1-year high of $41.08. The firm has a market cap of $664.93 million, a price-to-earnings ratio of 13.40 and a beta of 0.60.

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share (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 firm had revenue of $49.68 million for the quarter, compared to analyst estimates of $49.32 million. Analysts anticipate that Bar Harbor Bankshares, Inc. will post 3.6 earnings per share for the current year.

Bar Harbor Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, August 20th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.36 annualized dividend and a yield of 3.4%. Bar Harbor Bankshares's dividend payout ratio (DPR) is 47.72%.

Analysts Set New Price Targets

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