Thrivent Financial for Lutherans Acquires 15,245 Shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Thrivent Financial for Lutherans raised its position in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 196.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,019 shares of the financial services provider’s stock after purchasing an additional 15,245 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Bar Harbor Bankshares were worth $710,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Bar Harbor Bankshares by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 769,738 shares of the financial services provider’s stock worth $20,383,000 after purchasing an additional 11,091 shares during the last quarter. Naples Global Advisors LLC increased its holdings in shares of Bar Harbor Bankshares by 2.1% during the second quarter. Naples Global Advisors LLC now owns 40,706 shares of the financial services provider’s stock worth $1,094,000 after purchasing an additional 820 shares during the period. Bank of New York Mellon Corp raised its holdings in Bar Harbor Bankshares by 3.5% in 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 in the last quarter. Bailard Inc. raised its stake in Bar Harbor Bankshares by 118.3% in the second quarter. Bailard Inc. now owns 18,821 shares of the financial services provider’s stock valued at $506,000 after purchasing an additional 10,200 shares in the last quarter. Finally, SlateStone Wealth LLC bought a new stake in shares of Bar Harbor Bankshares during the 2nd quarter worth approximately $201,000. 54.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Bar Harbor Bankshares Trading Down 1.5 %

Bar Harbor Bankshares stock opened at $35.48 on Wednesday. Bar Harbor Bankshares has a 12 month low of $23.26 and a 12 month high of $38.47. The stock has a market capitalization of $541.78 million, a price-to-earnings ratio of 12.87 and a beta of 0.69. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.54.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.12. The company had revenue of $58.23 million for the quarter, compared to analyst estimates of $37.30 million. Bar Harbor Bankshares had a net margin of 18.99% and a return on equity of 9.66%. As a group, equities analysts predict that Bar Harbor Bankshares will post 2.82 earnings per share for the current fiscal year.

Bar Harbor Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Thursday, November 14th. Bar Harbor Bankshares’s dividend payout ratio (DPR) is presently 43.17%.

Bar Harbor Bankshares 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.