Strs Ohio Makes New $327,000 Investment in Bar Harbor Bankshares $BHB

Key Points

• Strs Ohio has acquired a new stake in Bar Harbor Bankshares, purchasing 11,100 shares valued at approximately $327,000. This investment reflects a 0.07% ownership in the company.
• Bar Harbor Bankshares' shares have seen significant interest from institutional investors, with 54.49% of its stock now owned by such entities, including substantial acquisitions by firms like Moors & Cabot Inc. and Vanguard Group Inc.
• The company's recent quarterly dividend was $0.32 per share, representing an annualized yield of 4.1%, with a payout ratio of 49.61% as disclosed in its latest filings.

Strs Ohio purchased a new stake in shares of Bar Harbor Bankshares (NYSE:BHB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,100 shares of the company's stock, valued at approximately $327,000. Strs Ohio owned about 0.07% of Bar Harbor Bankshares as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Moors & Cabot Inc. grew its position in Bar Harbor Bankshares by 321.8% during the first quarter. Moors & Cabot Inc. now owns 29,315 shares of the company's stock valued at $865,000 after buying an additional 22,365 shares during the period. Vanguard Group Inc. boosted its stake in shares of Bar Harbor Bankshares by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 807,331 shares of the company's stock worth $23,816,000 after acquiring an additional 13,243 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Bar Harbor Bankshares during the 1st quarter valued at $214,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Bar Harbor Bankshares in the 1st quarter worth $2,260,000. Finally, Nuveen LLC purchased a new stake in shares of Bar Harbor Bankshares in the 1st quarter worth $1,464,000. Hedge funds and other institutional investors own 54.49% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler upgraded Bar Harbor Bankshares from a "neutral" rating to an "overweight" rating and lifted 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, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $35.00.

Bar Harbor Bankshares Stock Down 0.3%

Shares of BHB stock opened at $31.44 on Wednesday. Bar Harbor Bankshares has a one year low of $26.43 and a one year high of $38.47. The company's fifty day moving average price is $31.25. The company has a market cap of $524.51 million, a P/E ratio of 12.19 and a beta of 0.71.

Bar Harbor Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Thursday, August 14th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Thursday, August 14th. Bar Harbor Bankshares's payout ratio is presently 49.61%.

Bar Harbor Bankshares 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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