Bar Harbor Bankshares (NYSEAMERICAN:BHB) Sets New 1-Year High – Time to Buy?

Bar Harbor Bankshares (NYSEAMERICAN:BHB) shares reached a new 52-week high on Wednesday . The company traded as high as $36.64 and last traded at $36.59, with a volume of 3436 shares traded. The stock had previously closed at $33.02.

Wall Street Analyst Weigh In

Separately, Piper Sandler reiterated a “neutral” rating and set a $33.00 price target on shares of Bar Harbor Bankshares in a research note on Thursday, September 5th.

Bar Harbor Bankshares Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.89. The company has a market cap of $558.42 million, a price-to-earnings ratio of 12.86 and a beta of 0.67.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.12. Bar Harbor Bankshares had a net margin of 18.99% and a return on equity of 9.80%. The company had revenue of $58.23 million for the quarter, compared to analyst estimates of $37.30 million. On average, equities research analysts anticipate that Bar Harbor Bankshares will post 2.82 earnings per share for the current year.

Bar Harbor Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, November 14th. Bar Harbor Bankshares’s payout ratio is 43.17%.

Hedge Funds Weigh In On Bar Harbor Bankshares

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its position in Bar Harbor Bankshares by 91.1% in the first quarter. BNP Paribas Financial Markets now owns 7,191 shares of the financial services provider’s stock worth $190,000 after buying an additional 3,429 shares during the last quarter. SlateStone Wealth LLC purchased a new stake in Bar Harbor Bankshares in the 2nd quarter worth about $201,000. Sky Investment Group LLC bought a new stake in Bar Harbor Bankshares in the 3rd quarter valued at about $216,000. First Bancorp Inc ME purchased a new stake in Bar Harbor Bankshares during the third quarter valued at about $220,000. Finally, Algert Global LLC lifted its holdings in Bar Harbor Bankshares by 19.7% during the second quarter. Algert Global LLC now owns 9,302 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 1,530 shares during the last quarter. 54.49% of the stock is owned by hedge funds and other institutional investors.

About Bar Harbor Bankshares

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.