LSV Asset Management Grows Stock Position in Bar Harbor Bankshares, Inc. $BHB

LSV Asset Management lifted its stake in Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) by 18.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,450 shares of the financial services provider’s stock after purchasing an additional 16,900 shares during the period. LSV Asset Management owned about 0.66% of Bar Harbor Bankshares worth $3,398,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Bar Harbor Bankshares by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,945 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 390 shares in the last quarter. Rhumbline Advisers increased its position in shares of Bar Harbor Bankshares by 1.9% during the second quarter. Rhumbline Advisers now owns 23,420 shares of the financial services provider’s stock worth $702,000 after purchasing an additional 446 shares in the last quarter. 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 purchasing an additional 615 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Bar Harbor Bankshares during the third quarter worth about $38,000. Finally, Creative Planning increased its position in shares of Bar Harbor Bankshares by 6.1% during the third quarter. Creative Planning now owns 22,326 shares of the financial services provider’s stock worth $680,000 after purchasing an additional 1,277 shares in the last quarter. 54.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bar Harbor Bankshares

In related news, Director Matthew L. Caras purchased 760 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were purchased at an average price of $34.68 per share, for a total transaction of $26,356.80. Following the transaction, the director directly owned 22,894 shares of the company’s stock, valued at approximately $793,963.92. The trade was a 3.43% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Bar Harbor Bankshares Stock Performance

Shares of BHB stock opened at $34.94 on Wednesday. The stock has a market capitalization of $584.90 million, a PE ratio of 14.26 and a beta of 0.61. Bar Harbor Bankshares, Inc. has a 52-week low of $28.06 and a 52-week high of $36.05. The stock’s 50-day moving average price is $33.77 and its 200 day moving average price is $32.75. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.40.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.02. The firm had revenue of $47.29 billion for the quarter, compared to analysts’ expectations of $48.22 million. Bar Harbor Bankshares had a return on equity of 10.95% and a net margin of 15.90%. As a group, equities research analysts forecast that Bar Harbor Bankshares, Inc. will post 3.67 EPS for the current year.

Bar Harbor Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 21st will be given a $0.34 dividend. This is a boost from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, May 21st. This represents a $1.36 annualized dividend and a yield of 3.9%. Bar Harbor Bankshares’s payout ratio is presently 47.72%.

Bar Harbor Bankshares 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.