Bar Harbor Bankshares (NYSEAMERICAN:BHB) Sets New 12-Month High – Time to Buy?

Shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) reached a new 52-week high on Friday . The company traded as high as $36.07 and last traded at $36.23, with a volume of 33782 shares. The stock had previously closed at $35.46.

Analysts Set New Price Targets

Separately, Piper Sandler boosted their target price on Bar Harbor Bankshares from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Bar Harbor Bankshares currently has a consensus rating of “Hold” and a consensus target price of $36.50.

Bar Harbor Bankshares Stock Performance

The company has a market cap of $602.71 million, a P/E ratio of 14.70 and a beta of 0.61. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.40. The stock has a 50 day moving average price of $34.23 and a two-hundred day moving average price of $33.02.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. Bar Harbor Bankshares had a return on equity of 10.95% and a net margin of 15.90%.The company had revenue of $47.29 billion for the quarter, compared to analyst estimates of $48.22 million. On average, research analysts predict that Bar Harbor Bankshares, Inc. will post 3.67 earnings per share for the current fiscal year.

Bar Harbor Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 21st will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. Bar Harbor Bankshares’s dividend payout ratio (DPR) is 47.72%.

Insider Buying and Selling at Bar Harbor Bankshares

In other Bar Harbor Bankshares news, Director Matthew L. Caras bought 760 shares of Bar Harbor Bankshares stock in a transaction on Tuesday, April 28th. The shares were purchased at an average price of $34.68 per share, with a total value of $26,356.80. Following the acquisition, the director owned 22,894 shares in the company, valued at $793,963.92. This trade represents a 3.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Bar Harbor Bankshares

Several hedge funds have recently modified their holdings of BHB. Royal Bank of Canada boosted its holdings in shares of Bar Harbor Bankshares by 11.1% during the 1st quarter. Royal Bank of Canada now owns 50,501 shares of the financial services provider’s stock valued at $1,490,000 after acquiring an additional 5,036 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Bar Harbor Bankshares by 36.6% during the 1st quarter. AQR Capital Management LLC now owns 10,964 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 2,939 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Bar Harbor Bankshares by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,945 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 390 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Bar Harbor Bankshares by 8.2% during the 1st quarter. Empowered Funds LLC now owns 49,544 shares of the financial services provider’s stock valued at $1,462,000 after acquiring an additional 3,754 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Bar Harbor Bankshares during the 1st quarter worth $522,000. Institutional investors and hedge funds own 54.49% of the company’s stock.

About Bar Harbor Bankshares

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.