Goldman Sachs Group Inc. Sells 23,073 Shares of Bar Harbor Bankshares $BHB

Goldman Sachs Group Inc. trimmed its holdings in Bar Harbor Bankshares (NYSE:BHB) by 34.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 44,474 shares of the company’s stock after selling 23,073 shares during the quarter. Goldman Sachs Group Inc. owned 0.29% of Bar Harbor Bankshares worth $1,312,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BHB. State of New Jersey Common Pension Fund D purchased a new stake in shares of Bar Harbor Bankshares in the 1st quarter worth about $2,260,000. Nuveen LLC bought a new position in shares of Bar Harbor Bankshares in the 1st quarter worth approximately $1,464,000. Moors & Cabot Inc. lifted its stake in shares of 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 purchasing an additional 22,365 shares during the period. Brant Point Investment Management LLC bought a new position in shares of Bar Harbor Bankshares in the 1st quarter worth approximately $583,000. Finally, Jane Street Group LLC purchased a new stake in Bar Harbor Bankshares in the 1st quarter worth approximately $522,000. 54.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler raised shares of Bar Harbor Bankshares from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $34.00 to $35.00 in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $35.00.

Bar Harbor Bankshares Price Performance

Shares of NYSE:BHB opened at $31.14 on Friday. Bar Harbor Bankshares has a 12-month low of $26.43 and a 12-month high of $38.47. The firm has a market capitalization of $519.51 million, a P/E ratio of 12.07 and a beta of 0.71. The firm has a 50 day moving average of $31.24.

Bar Harbor Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Thursday, August 14th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Thursday, August 14th. Bar Harbor Bankshares’s dividend payout ratio is currently 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.