Vanguard Group Inc. Has $23.82 Million Position in Bar Harbor Bankshares $BHB

Key Points

• Vanguard Group Inc. increased its stake in Bar Harbor Bankshares by 1.7% during Q1, now holding approximately 5.27% of the company worth $23.8 million.
• Multiple institutional investors, including Moors & Cabot Inc. and KLP Kapitalforvaltning AS, significantly increased their positions in Bar Harbor Bankshares during the same period.
• Bar Harbor Bankshares announced a quarterly dividend of $0.32, with a dividend yield of 4.0%, scheduled for payment on September 12th.

Vanguard Group Inc. lifted its holdings in Bar Harbor Bankshares (NYSE:BHB - Free Report) by 1.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 807,331 shares of the company's stock after purchasing an additional 13,243 shares during the period. Vanguard Group Inc. owned about 5.27% of Bar Harbor Bankshares worth $23,816,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Moors & Cabot Inc. grew its stake in shares of Bar Harbor Bankshares by 321.8% in the 1st quarter. Moors & Cabot Inc. now owns 29,315 shares of the company's stock worth $865,000 after purchasing an additional 22,365 shares during the last quarter. KLP Kapitalforvaltning AS boosted its holdings in shares of Bar Harbor Bankshares by 228.6% in the first quarter. KLP Kapitalforvaltning AS now owns 11,500 shares of the company's stock worth $339,000 after buying an additional 8,000 shares during the period. Finally, Nisa Investment Advisors LLC boosted 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 worth $51,000 after buying an additional 430 shares during the period. Institutional investors and hedge funds own 54.49% of the company's stock.

Bar Harbor Bankshares Price Performance

Shares of BHB stock traded down $0.11 during trading on Wednesday, hitting $31.84. 30,774 shares of the company were exchanged, compared to its average volume of 44,240. The company has a market capitalization of $531.19 million, a price-to-earnings ratio of 12.34 and a beta of 0.71. The business's 50-day moving average is $31.06. Bar Harbor Bankshares has a twelve month low of $26.43 and a twelve month high of $38.47.

Bar Harbor Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors 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 4.0%. The ex-dividend date is Thursday, August 14th. Bar Harbor Bankshares's dividend payout ratio (DPR) is currently 49.61%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wall Street Zen assumed coverage on shares of Bar Harbor Bankshares in a report on Friday, May 16th. They issued a "hold" rating for the company. Piper Sandler upgraded shares of 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 report on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "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.