Bar Harbor Bankshares (NYSEAMERICAN:BHB) Now Covered by Analysts at Piper Sandler

Piper Sandler started coverage on shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) in a research note released on Monday, MarketBeat reports. The brokerage issued an overweight rating and a $38.00 target price on the financial services provider’s stock.

Bar Harbor Bankshares Price Performance

Shares of BHB stock opened at $31.58 on Monday. Bar Harbor Bankshares has a twelve month low of $26.43 and a twelve month high of $36.05. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $527.07 million, a PE ratio of 13.73 and a beta of 0.62. The firm has a fifty day simple moving average of $33.27 and a 200-day simple moving average of $31.67.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its earnings results on Thursday, January 22nd. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.89 by $0.04. The company had revenue of $49.37 million during the quarter, compared to analysts’ expectations of $42.80 million. Bar Harbor Bankshares had a return on equity of 10.73% and a net margin of 15.13%. Equities research analysts anticipate that Bar Harbor Bankshares will post 2.84 earnings per share for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, February 20th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, February 20th. Bar Harbor Bankshares’s dividend payout ratio is currently 44.91%.

Institutional Trading of Bar Harbor Bankshares

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new position in shares of Bar Harbor Bankshares during the third quarter worth about $38,000. Clearstead Advisors LLC lifted its position in Bar Harbor Bankshares by 192.6% in the 4th quarter. Clearstead Advisors LLC now owns 1,384 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 911 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Bar Harbor Bankshares in the 4th quarter valued at about $48,000. CWM LLC boosted its stake in Bar Harbor Bankshares by 52.9% during the 4th quarter. CWM LLC now owns 1,778 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 615 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Bar Harbor Bankshares during the 1st quarter valued at about $73,000. 54.49% of the stock is currently owned by institutional investors and hedge funds.

About Bar Harbor Bankshares

Bar Harbor Bankshares, Inc is a bank holding company headquartered in Ellsworth, Maine, and the parent of Bar Harbor Bank & Trust. The company provides a full suite of commercial and consumer banking products and services, including deposit accounts, residential and commercial lending, wealth management, treasury and cash management, and online and mobile banking solutions. Its subsidiary, Bar Harbor Bank & Trust, operates branches across Maine and eastern New Hampshire, serving both individual and business clients with a focus on community banking relationships.

With roots tracing back to the late 19th century, Bar Harbor Bankshares has built its presence along the coast of Maine, extending from Casco Bay to Downeast communities, and into neighboring New Hampshire markets.