Bar Harbor Bankshares (NYSEAMERICAN:BHB) Given New $39.00 Price Target at Piper Sandler

Bar Harbor Bankshares (NYSEAMERICAN:BHB) had its target price hoisted by Piper Sandler from $38.00 to $39.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Bar Harbor Bankshares Price Performance

BHB stock opened at $34.27 on Wednesday. Bar Harbor Bankshares has a one year low of $28.06 and a one year high of $36.05. The company’s fifty day moving average price is $33.18 and its 200-day moving average price is $31.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $573.68 million, a PE ratio of 13.99 and a beta of 0.59.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its earnings results on Tuesday, April 21st. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.86 by $0.02. Bar Harbor Bankshares had a net margin of 15.90% and a return on equity of 11.11%. The firm had revenue of $47.29 million for the quarter, compared to the consensus estimate of $48.22 million. On average, equities analysts anticipate that Bar Harbor Bankshares will post 3.6 EPS for the current fiscal year.

Bar Harbor Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 21st will be given a $0.34 dividend. This is a boost from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 4.0%. The ex-dividend date is Thursday, May 21st. Bar Harbor Bankshares’s dividend payout ratio (DPR) is presently 44.91%.

Institutional Investors Weigh In On Bar Harbor Bankshares

Several large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in Bar Harbor Bankshares by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 879,482 shares of the financial services provider’s stock worth $26,789,000 after purchasing an additional 5,239 shares during the last quarter. Vanguard Group Inc. increased its position in Bar Harbor Bankshares by 2.6% in the third quarter. Vanguard Group Inc. now owns 864,661 shares of the financial services provider’s stock worth $26,338,000 after purchasing an additional 21,589 shares during the last quarter. Geode Capital Management LLC increased its position in Bar Harbor Bankshares by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 410,445 shares of the financial services provider’s stock worth $12,747,000 after purchasing an additional 34,306 shares during the last quarter. Boston Partners increased its position in Bar Harbor Bankshares by 12.4% in the fourth quarter. Boston Partners now owns 146,360 shares of the financial services provider’s stock worth $4,544,000 after purchasing an additional 16,156 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Bar Harbor Bankshares by 4.6% in the fourth quarter. Renaissance Technologies LLC now owns 120,984 shares of the financial services provider’s stock worth $3,757,000 after purchasing an additional 5,296 shares during the last quarter. Institutional investors own 54.49% of the company’s stock.

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.