Deutsche Bank AG Sells 1,818 Shares of Bar Harbor Bankshares $BHB

Deutsche Bank AG lessened its position in Bar Harbor Bankshares (NYSE:BHB) by 18.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,941 shares of the company’s stock after selling 1,818 shares during the quarter. Deutsche Bank AG owned 0.05% of Bar Harbor Bankshares worth $234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its stake in shares of Bar Harbor Bankshares by 33.5% during the first quarter. Nisa Investment Advisors LLC now owns 1,713 shares of the company’s stock valued at $51,000 after buying an additional 430 shares during the last quarter. KLP Kapitalforvaltning AS lifted its holdings in shares of Bar Harbor Bankshares by 228.6% during the first quarter. KLP Kapitalforvaltning AS now owns 11,500 shares of the company’s stock valued at $339,000 after purchasing an additional 8,000 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Bar Harbor Bankshares by 1.7% during the first quarter. Vanguard Group Inc. now owns 807,331 shares of the company’s stock valued at $23,816,000 after purchasing an additional 13,243 shares during the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of Bar Harbor Bankshares by 321.8% during the first quarter. Moors & Cabot Inc. now owns 29,315 shares of the company’s stock valued at $865,000 after acquiring an additional 22,365 shares in the last quarter. 54.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Piper Sandler upgraded Bar Harbor Bankshares from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $34.00 to $35.00 in a research note on Tuesday, August 5th. Wall Street Zen initiated coverage on Bar Harbor Bankshares in a research note on Friday, May 16th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Bar Harbor Bankshares presently has a consensus rating of “Buy” and a consensus price target of $35.00.

Bar Harbor Bankshares Stock Performance

Shares of BHB stock opened at $32.27 on Friday. The stock has a market cap of $538.36 million, a PE ratio of 12.51 and a beta of 0.69. Bar Harbor Bankshares has a 52 week low of $26.43 and a 52 week high of $38.47. The business has a fifty day moving average of $30.90.

Bar Harbor Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Thursday, August 14th will be issued a $0.32 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.0%. Bar Harbor Bankshares’s payout ratio is 49.61%.

About Bar Harbor Bankshares

Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides commercial, lending, retail, and wealth management banking services. 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.