State Street Corp Boosts Holdings in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

State Street Corp lifted its stake in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,823 shares of the financial services provider’s stock after purchasing an additional 19,118 shares during the period. State Street Corp’s holdings in Bar Harbor Bankshares were worth $11,189,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BHB. American Century Companies Inc. raised its holdings in shares of Bar Harbor Bankshares by 23.7% during the second quarter. American Century Companies Inc. now owns 213,136 shares of the financial services provider’s stock valued at $5,729,000 after acquiring an additional 40,891 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Bar Harbor Bankshares by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 865,524 shares of the financial services provider’s stock worth $23,264,000 after purchasing an additional 24,718 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Bar Harbor Bankshares by 196.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 23,019 shares of the financial services provider’s stock valued at $710,000 after purchasing an additional 15,245 shares during the last quarter. Creative Planning purchased a new position in Bar Harbor Bankshares in the 3rd quarter valued at $394,000. Finally, De Lisle Partners LLP boosted its stake in Bar Harbor Bankshares by 36.2% during the 3rd quarter. De Lisle Partners LLP now owns 42,686 shares of the financial services provider’s stock worth $1,316,000 after purchasing an additional 11,353 shares during the last quarter. 54.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Piper Sandler reiterated a “neutral” rating and issued a $33.00 target price on shares of Bar Harbor Bankshares in a research report on Thursday, September 5th. Keefe, Bruyette & Woods raised their target price on shares of Bar Harbor Bankshares from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Bar Harbor Bankshares Stock Performance

Shares of NYSEAMERICAN:BHB opened at $31.25 on Thursday. Bar Harbor Bankshares has a 52-week low of $23.26 and a 52-week high of $38.47. The firm has a market capitalization of $477.19 million, a price-to-earnings ratio of 11.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.96 and a quick ratio of 0.96.

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

Bar Harbor Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.84%. Bar Harbor Bankshares’s dividend payout ratio is currently 43.17%.

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.