Hsbc Holdings PLC Buys Shares of 7,249 Bar Harbor Bankshares $BHB

Hsbc Holdings PLC purchased a new position in Bar Harbor Bankshares (NYSE:BHB) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,249 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BHB. Nisa Investment Advisors LLC raised its holdings in shares of Bar Harbor Bankshares by 33.5% in the first quarter. Nisa Investment Advisors LLC now owns 1,713 shares of the company’s stock worth $51,000 after buying an additional 430 shares during the last quarter. KLP Kapitalforvaltning AS raised its holdings in shares of Bar Harbor Bankshares by 228.6% in the first 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. Moors & Cabot Inc. raised its holdings in shares of Bar Harbor Bankshares by 321.8% in the first 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. Vanguard Group Inc. raised its holdings in shares of Bar Harbor Bankshares by 1.7% in the first 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, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Bar Harbor Bankshares by 13.2% in the first 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. Hedge funds and other institutional investors own 54.49% of the company’s stock.

Bar Harbor Bankshares Trading Down 1.1%

BHB stock opened at $32.08 on Friday. The firm has a market capitalization of $535.19 million, a price-to-earnings ratio of 12.43 and a beta of 0.71. The firm’s fifty day moving average price is $31.15. Bar Harbor Bankshares has a one year low of $26.43 and a one year high of $38.47.

Bar Harbor Bankshares Dividend Announcement

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

Wall Street Analyst Weigh In

BHB has been the topic of a number of research reports. Wall Street Zen initiated coverage on shares of Bar Harbor Bankshares in a research note on Friday, May 16th. They issued a “hold” rating on the stock. Piper Sandler upgraded shares of Bar Harbor Bankshares from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $34.00 to $35.00 in a research note on Tuesday, August 5th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $35.00.

Bar Harbor Bankshares Company Profile

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.