Trust Co. of Vermont Acquires Shares of 76,391 Bar Harbor Bankshares, Inc. $BHB

Trust Co. of Vermont acquired a new stake in shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 76,391 shares of the financial services provider’s stock, valued at approximately $2,885,000.

A number of other large investors also recently modified their holdings of BHB. Russell Investments Group Ltd. bought a new position in shares of Bar Harbor Bankshares in the 3rd quarter worth $38,000. Clearstead Advisors LLC lifted its stake in shares of Bar Harbor Bankshares by 192.6% in the fourth quarter. Clearstead Advisors LLC now owns 1,384 shares of the financial services provider’s stock valued at $43,000 after buying an additional 911 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Bar Harbor Bankshares during the fourth quarter valued at about $48,000. CWM LLC increased its position in shares of Bar Harbor Bankshares by 52.9% during the fourth quarter. CWM LLC now owns 1,778 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 615 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Bar Harbor Bankshares in the 1st quarter worth about $73,000. 54.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $44.00 price target (up from $41.00) on shares of Bar Harbor Bankshares in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their price objective on Bar Harbor Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a report on Wednesday, July 22nd. Finally, Zacks Research downgraded Bar Harbor Bankshares from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Bar Harbor Bankshares presently has an average rating of “Hold” and an average target price of $41.00.

Bar Harbor Bankshares Stock Performance

NYSEAMERICAN BHB opened at $40.33 on Tuesday. Bar Harbor Bankshares, Inc. has a 1 year low of $28.11 and a 1 year high of $41.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $676.33 million, a price-to-earnings ratio of 13.62 and a beta of 0.60. The company has a fifty day moving average price of $38.29 and a 200-day moving average price of $35.42.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. Bar Harbor Bankshares had a net margin of 18.46% and a return on equity of 11.41%. The company had revenue of $49.68 million during the quarter, compared to the consensus estimate of $49.32 million. As a group, equities research analysts predict that Bar Harbor Bankshares, Inc. will post 3.6 EPS for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.36 annualized dividend and a dividend yield of 3.4%. Bar Harbor Bankshares’s dividend payout ratio (DPR) is currently 47.72%.

Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares, Inc is a bank holding company headquartered in Ellsworth, Maine, and the parent of Bar Harbor Bank & Trust. The company provides a full suite of commercial and consumer banking products and services, including deposit accounts, residential and commercial lending, wealth management, treasury and cash management, and online and mobile banking solutions. Its subsidiary, Bar Harbor Bank & Trust, operates branches across Maine and eastern New Hampshire, serving both individual and business clients with a focus on community banking relationships.

With roots tracing back to the late 19th century, Bar Harbor Bankshares has built its presence along the coast of Maine, extending from Casco Bay to Downeast communities, and into neighboring New Hampshire markets.