Bar Harbor Bankshares (NYSEAMERICAN:BHB) Receives “Neutral” Rating from Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) in a report published on Thursday morning, MarketBeat reports. Piper Sandler currently has a $33.00 target price on the financial services provider’s stock.

Bar Harbor Bankshares Price Performance

Shares of NYSEAMERICAN:BHB opened at $29.98 on Thursday. Bar Harbor Bankshares has a 1 year low of $23.18 and a 1 year high of $33.31. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $457.79 million, a PE ratio of 10.90 and a beta of 0.70.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The business had revenue of $37.39 million during the quarter, compared to analyst estimates of $36.80 million. Bar Harbor Bankshares had a net margin of 18.86% and a return on equity of 9.72%.

Bar Harbor Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be paid a $0.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 4.00%. Bar Harbor Bankshares’s dividend payout ratio is presently 43.64%.

Institutional Investors Weigh In On Bar Harbor Bankshares

A number of hedge funds have recently added to or reduced their stakes in BHB. BNP Paribas Financial Markets raised its position in Bar Harbor Bankshares by 91.1% in the 1st quarter. BNP Paribas Financial Markets now owns 7,191 shares of the financial services provider’s stock valued at $190,000 after buying an additional 3,429 shares during the last quarter. Congress Wealth Management LLC DE bought a new stake in Bar Harbor Bankshares in the fourth quarter worth about $231,000. Bailard Inc. boosted its stake in Bar Harbor Bankshares by 118.3% in the second quarter. Bailard Inc. now owns 18,821 shares of the financial services provider’s stock valued at $506,000 after acquiring an additional 10,200 shares during the last quarter. SlateStone Wealth LLC bought a new position in shares of Bar Harbor Bankshares during the 2nd quarter valued at approximately $201,000. Finally, Empowered Funds LLC grew its position in shares of Bar Harbor Bankshares by 7.8% during the 1st quarter. Empowered Funds LLC now owns 38,609 shares of the financial services provider’s stock valued at $1,022,000 after acquiring an additional 2,800 shares during the period. Institutional investors and hedge funds own 54.49% of the company’s stock.

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.