Dimensional Fund Advisors LP Purchases 24,718 Shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Dimensional Fund Advisors LP raised its holdings in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 865,524 shares of the financial services provider’s stock after buying an additional 24,718 shares during the quarter. Dimensional Fund Advisors LP owned about 5.68% of Bar Harbor Bankshares worth $23,264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake in Bar Harbor Bankshares by 91.1% in the first quarter. BNP Paribas Financial Markets now owns 7,191 shares of the financial services provider’s stock worth $190,000 after buying an additional 3,429 shares in the last quarter. Bailard Inc. increased its holdings in shares of Bar Harbor Bankshares by 118.3% in the second quarter. Bailard Inc. now owns 18,821 shares of the financial services provider’s stock worth $506,000 after buying an additional 10,200 shares during the period. SlateStone Wealth LLC bought a new stake in shares of Bar Harbor Bankshares in the 2nd quarter valued at about $201,000. Bank of New York Mellon Corp boosted its holdings 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 valued at $2,533,000 after acquiring an additional 3,202 shares during the period. Finally, Empowered Funds LLC grew its position in Bar Harbor Bankshares by 7.8% during the 1st quarter. Empowered Funds LLC now owns 38,609 shares of the financial services provider’s stock worth $1,022,000 after acquiring an additional 2,800 shares during the last quarter. 54.49% of the stock is currently owned by institutional investors.

Bar Harbor Bankshares Stock Down 1.7 %

Shares of NYSEAMERICAN BHB opened at $28.81 on Friday. Bar Harbor Bankshares has a fifty-two week low of $23.18 and a fifty-two week high of $33.31. The company has a market cap of $439.93 million, a price-to-earnings ratio of 10.48 and a beta of 0.68. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.89.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $37.39 million for the quarter, compared to the consensus estimate of $36.80 million. Bar Harbor Bankshares had a net margin of 18.86% and a return on equity of 9.72%. Analysts predict that Bar Harbor Bankshares will post 2.68 earnings per share for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, August 15th. Bar Harbor Bankshares’s payout ratio is currently 43.64%.

Wall Street Analyst Weigh In

Separately, Piper Sandler reissued a “neutral” rating and set a $33.00 price target on shares of Bar Harbor Bankshares in a research report on Thursday, September 5th.

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.