Bank of New York Mellon Corp Has $2.53 Million Stock Holdings in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Bank of New York Mellon Corp lifted its position in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 3.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 94,240 shares of the financial services provider’s stock after buying an additional 3,202 shares during the quarter. Bank of New York Mellon Corp owned about 0.62% of Bar Harbor Bankshares worth $2,533,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mitchell Sinkler & Starr PA acquired a new position in Bar Harbor Bankshares in the 4th quarter valued at $668,000. Dimensional Fund Advisors LP raised its stake in Bar Harbor Bankshares by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 807,635 shares of the financial services provider’s stock valued at $23,713,000 after purchasing an additional 21,856 shares in the last quarter. Black Maple Capital Management LP bought a new stake in Bar Harbor Bankshares during the first quarter worth about $402,000. Vanguard Group Inc. grew its stake in Bar Harbor Bankshares by 1.5% during the first quarter. Vanguard Group Inc. now owns 769,738 shares of the financial services provider’s stock worth $20,383,000 after buying an additional 11,091 shares in the last quarter. Finally, Prosperity Consulting Group LLC acquired a new stake in Bar Harbor Bankshares during the first quarter worth about $289,000. Institutional investors and hedge funds own 54.49% of the company’s stock.

Wall Street Analyst Weigh In

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

Bar Harbor Bankshares Stock Performance

Shares of BHB opened at $31.31 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.89. The stock has a market cap of $478.10 million, a PE ratio of 11.39 and a beta of 0.68. Bar Harbor Bankshares has a 1 year low of $23.18 and a 1 year high of $33.31.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its quarterly earnings data 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 firm had revenue of $37.39 million for the quarter, compared to analyst estimates of $36.80 million. Bar Harbor Bankshares had a return on equity of 9.72% and a net margin of 18.86%. Sell-side analysts predict that Bar Harbor Bankshares will post 2.68 EPS for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.83%. Bar Harbor Bankshares’s payout ratio is presently 43.64%.

About Bar Harbor Bankshares

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.