Invesco Ltd. Sells 1,934 Shares of Bar Harbor Bankshares $BHB

Invesco Ltd. cut its stake in shares of Bar Harbor Bankshares (NYSE:BHB) by 7.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,825 shares of the company’s stock after selling 1,934 shares during the quarter. Invesco Ltd. owned about 0.16% of Bar Harbor Bankshares worth $703,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BHB. Nisa Investment Advisors LLC lifted its position in Bar Harbor Bankshares by 33.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,713 shares of the company’s stock valued at $51,000 after acquiring an additional 430 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Bar Harbor Bankshares by 13.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,291 shares of the company’s stock worth $776,000 after buying an additional 3,072 shares during the last quarter. KLP Kapitalforvaltning AS raised its position in Bar Harbor Bankshares by 228.6% in the 1st quarter. KLP Kapitalforvaltning AS now owns 11,500 shares of the company’s stock worth $339,000 after buying an additional 8,000 shares during the last quarter. Vanguard Group Inc. raised its position in Bar Harbor Bankshares by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 807,331 shares of the company’s stock worth $23,816,000 after buying an additional 13,243 shares during the last quarter. Finally, Moors & Cabot Inc. raised its position in Bar Harbor Bankshares by 321.8% in the 1st quarter. Moors & Cabot Inc. now owns 29,315 shares of the company’s stock worth $865,000 after buying an additional 22,365 shares during the last quarter. 54.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Bar Harbor Bankshares Stock Performance

Shares of BHB opened at $32.44 on Friday. Bar Harbor Bankshares has a 1 year low of $26.43 and a 1 year high of $38.47. The firm’s 50 day moving average is $31.11. The stock has a market cap of $541.20 million, a price-to-earnings ratio of 12.57 and a beta of 0.71.

Bar Harbor Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, August 14th. Bar Harbor Bankshares’s dividend payout ratio (DPR) 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.