JPMorgan Chase & Co. Buys 22,212 Shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB)

JPMorgan Chase & Co. lifted its stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 77.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,916 shares of the financial services provider’s stock after acquiring an additional 22,212 shares during the period. JPMorgan Chase & Co.’s holdings in Bar Harbor Bankshares were worth $1,570,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Barclays PLC raised its stake in Bar Harbor Bankshares by 50.0% in the third quarter. Barclays PLC now owns 49,714 shares of the financial services provider’s stock valued at $1,533,000 after buying an additional 16,579 shares during the last quarter. Arete Wealth Advisors LLC raised its stake in Bar Harbor Bankshares by 21.4% in the third quarter. Arete Wealth Advisors LLC now owns 9,615 shares of the financial services provider’s stock valued at $295,000 after buying an additional 1,694 shares during the last quarter. Geode Capital Management LLC raised its stake in Bar Harbor Bankshares by 1.1% in the third quarter. Geode Capital Management LLC now owns 335,432 shares of the financial services provider’s stock valued at $10,348,000 after buying an additional 3,602 shares during the last quarter. State Street Corp raised its stake in Bar Harbor Bankshares by 5.6% in the third quarter. State Street Corp now owns 362,823 shares of the financial services provider’s stock valued at $11,189,000 after buying an additional 19,118 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in Bar Harbor Bankshares in the third quarter valued at about $203,000. 54.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods increased their price target on Bar Harbor Bankshares from $30.00 to $34.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Bar Harbor Bankshares Stock Performance

Shares of NYSEAMERICAN:BHB opened at $31.10 on Friday. Bar Harbor Bankshares has a 52-week low of $23.26 and a 52-week high of $38.47. The stock has a market capitalization of $474.90 million, a PE ratio of 11.19 and a beta of 0.73. 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, topping the consensus estimate of $0.68 by $0.12. Bar Harbor Bankshares had a return on equity of 9.66% and a net margin of 18.99%. The firm had revenue of $58.23 million during the quarter, compared to analysts’ expectations of $37.30 million. Analysts forecast that Bar Harbor Bankshares will post 2.82 EPS for the current year.

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.