Bar Harbor Wealth Management Buys 10,761 Shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Bar Harbor Wealth Management grew its position in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 2.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 428,401 shares of the financial services provider’s stock after acquiring an additional 10,761 shares during the period. Bar Harbor Wealth Management’s holdings in Bar Harbor Bankshares were worth $13,101,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Foundry Partners LLC increased its position in Bar Harbor Bankshares by 0.9% in the 3rd quarter. Foundry Partners LLC now owns 94,435 shares of the financial services provider’s stock valued at $2,912,000 after acquiring an additional 870 shares during the period. Algert Global LLC grew its stake in shares of Bar Harbor Bankshares by 19.7% in the second quarter. Algert Global LLC now owns 9,302 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 1,530 shares during the last quarter. Arete Wealth Advisors LLC increased its holdings in Bar Harbor Bankshares by 21.4% in the third quarter. Arete Wealth Advisors LLC now owns 9,615 shares of the financial services provider’s stock valued at $295,000 after purchasing an additional 1,694 shares during the period. Empowered Funds LLC raised its position in Bar Harbor Bankshares by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 43,633 shares of the financial services provider’s stock worth $1,346,000 after purchasing an additional 2,144 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Bar Harbor Bankshares by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 94,240 shares of the financial services provider’s stock worth $2,533,000 after purchasing an additional 3,202 shares during the last quarter. Institutional investors and hedge funds own 54.49% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their price objective on Bar Harbor Bankshares from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Bar Harbor Bankshares Trading Up 3.1 %

Shares of BHB traded up $0.91 during trading hours on Monday, hitting $29.95. 38,802 shares of the stock were exchanged, compared to its average volume of 46,297. Bar Harbor Bankshares has a fifty-two week low of $23.26 and a fifty-two week high of $38.47. The stock has a market cap of $457.34 million, a PE ratio of 10.77 and a beta of 0.69. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.54.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.12. The firm had revenue of $58.23 million during the quarter, compared to the consensus estimate of $37.30 million. Bar Harbor Bankshares had a return on equity of 9.66% and a net margin of 18.99%. On average, sell-side analysts predict that Bar Harbor Bankshares will post 2.82 EPS for the current year.

Bar Harbor Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Thursday, November 14th were issued a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 4.01%. Bar Harbor Bankshares’s payout ratio is currently 43.17%.

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.