Bar Harbor Bankshares (NYSEAMERICAN:BHB) Releases Quarterly Earnings Results

Bar Harbor Bankshares (NYSEAMERICAN:BHB) announced its earnings results on Thursday. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11, FiscalAI reports. Bar Harbor Bankshares had a return on equity of 11.41% and a net margin of 18.46%. The company had revenue of $51.49 million for the quarter, compared to analyst estimates of $50.17 million.

Bar Harbor Bankshares Trading Up 2.1%

BHB traded up $0.81 during mid-day trading on Thursday, hitting $39.47. The stock had a trading volume of 74,819 shares, compared to its average volume of 108,411. Bar Harbor Bankshares has a 1-year low of $28.50 and a 1-year high of $41.12. 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 capitalization of $661.91 million, a price-to-earnings ratio of 13.33 and a beta of 0.63. The stock’s fifty day simple moving average is $39.45 and its 200-day simple moving average is $37.48.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BHB. Zacks Research raised Bar Harbor Bankshares from a “strong sell” rating to a “hold” rating in a research report on Friday, September 25th. Keefe, Bruyette & Woods raised their price objective on shares of Bar Harbor Bankshares from $36.00 to $38.00 and gave the company a “market perform” rating in a research report on Wednesday, July 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $44.00 price objective (up from $41.00) on shares of Bar Harbor Bankshares in a report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $41.00.

About Bar Harbor Bankshares

Bar Harbor Bankshares (NYSE American: BHB) is a bank holding company for Bar Harbor Bank & Trust, a community banking institution headquartered in Bar Harbor, Maine. The bank traces its roots to 1887 and serves individuals, families, businesses and nonprofit organizations through a network of banking offices and digital channels.

Bar Harbor Bank & Trust provides a range of financial services, including checking and savings accounts, certificates of deposit, consumer and residential lending, commercial loans, cash-management services and online and mobile banking.