Bar Harbor Bankshares (NYSEAMERICAN:BHB) Rating Reiterated by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB - Free Report) in a report published on Monday morning, Benzinga reports. The brokerage currently has a $28.00 price objective on the financial services provider's stock, down from their prior price objective of $29.00.

Separately, TheStreet lowered Bar Harbor Bankshares from a b rating to a c+ rating in a research note on Monday, March 11th.

Bar Harbor Bankshares Stock Performance

Bar Harbor Bankshares stock remained flat at $25.48 during mid-day trading on Monday. 47,253 shares of the company's stock were exchanged, compared to its average volume of 33,955. Bar Harbor Bankshares has a 12 month low of $19.55 and a 12 month high of $30.37. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $387.04 million, a PE ratio of 9.27 and a beta of 0.74.

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.01. The business had revenue of $37.64 million for the quarter, compared to analysts' expectations of $37.40 million. Bar Harbor Bankshares had a return on equity of 10.17% and a net margin of 19.51%. On average, sell-side analysts forecast that Bar Harbor Bankshares will post 2.75 EPS for the current fiscal year.

Bar Harbor Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend is Wednesday, May 15th. This is a positive change from Bar Harbor Bankshares's previous quarterly dividend of $0.22. Bar Harbor Bankshares's payout ratio is 40.73%.

Hedge Funds Weigh In On Bar Harbor Bankshares

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mitchell Sinkler & Starr PA bought a new stake in shares of Bar Harbor Bankshares during the 4th quarter valued at about $668,000. Dimensional Fund Advisors LP lifted its position in shares of Bar Harbor Bankshares by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 807,635 shares of the financial services provider's stock valued at $23,713,000 after acquiring an additional 21,856 shares during the period. Bailard Inc. bought a new position in Bar Harbor Bankshares during the third quarter worth $395,000. J.W. Cole Advisors Inc. bought a new position in Bar Harbor Bankshares during the fourth quarter worth $435,000. Finally, Brendel Financial Advisors LLC acquired a new stake in Bar Harbor Bankshares in the fourth quarter worth $371,000. 54.49% of the stock is owned by institutional investors and hedge funds.

Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides banking and nonbanking products and services primarily to consumers and businesses. 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.