Moors & Cabot Inc. Purchases 22,365 Shares of Bar Harbor Bankshares (NYSE:BHB)

Key Points

• Moors & Cabot Inc. significantly increased its stake in Bar Harbor Bankshares by 321.8%, acquiring 22,365 shares in the first quarter, bringing its ownership to a total of 29,315 shares valued at $865,000.
• Bar Harbor Bankshares announced a quarterly dividend of $0.32 per share, representing an annualized yield of 4.5%, with the payment date set for September 12th.
• Analysts from Piper Sandler have raised their target price on Bar Harbor Bankshares from $32.00 to $34.00 while issuing a "neutral" rating, indicating a moderate outlook on the stock.

Moors & Cabot Inc. boosted its stake in shares of Bar Harbor Bankshares (NYSE:BHB - Free Report) by 321.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,315 shares of the company's stock after buying an additional 22,365 shares during the quarter. Moors & Cabot Inc. owned approximately 0.19% of Bar Harbor Bankshares worth $865,000 as of its most recent SEC filing.

Separately, Nisa Investment Advisors LLC grew its holdings in shares of Bar Harbor Bankshares by 33.5% in the first quarter. Nisa Investment Advisors LLC now owns 1,713 shares of the company's stock valued at $51,000 after acquiring an additional 430 shares in the last quarter. Institutional investors and hedge funds own 54.49% of the company's stock.

Analyst Ratings Changes

BHB has been the subject of several research reports. Wall Street Zen began coverage on Bar Harbor Bankshares in a report on Friday, May 16th. They set a "hold" rating for the company. Piper Sandler raised Bar Harbor Bankshares from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $34.00 to $35.00 in a research note on Tuesday.

Bar Harbor Bankshares Stock Performance

Shares of NYSE:BHB traded up $0.18 during midday trading on Thursday, hitting $30.07. The company had a trading volume of 23,923 shares, compared to its average volume of 43,358. The firm has a market cap of $460.58 million, a P/E ratio of 11.66 and a beta of 0.69. Bar Harbor Bankshares has a 12-month low of $26.43 and a 12-month high of $38.47. The business has a fifty day simple moving average of $30.08.

Bar Harbor Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Thursday, August 14th. Bar Harbor Bankshares's dividend payout ratio is 49.61%.

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.