Bar Harbor Bankshares (NYSEAMERICAN:BHB) Given Market Perform Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $28.00 target price on the financial services provider’s stock, down from their prior target price of $29.00.

Separately, TheStreet downgraded shares of Bar Harbor Bankshares from a b rating to a c+ rating in a research note on Monday, March 11th.

Bar Harbor Bankshares Stock Performance

NYSEAMERICAN:BHB opened at $25.48 on Monday. The stock has a market cap of $387.04 million, a PE ratio of 9.27 and a beta of 0.74. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. Bar Harbor Bankshares has a 52-week low of $19.55 and a 52-week high of $30.37.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. Bar Harbor Bankshares had a return on equity of 10.17% and a net margin of 19.51%. The firm had revenue of $37.64 million during the quarter, compared to analysts’ expectations of $37.40 million. Sell-side analysts forecast that Bar Harbor Bankshares will post 2.75 earnings per share for the current year.

Bar Harbor Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 16th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, May 15th. This is a boost from Bar Harbor Bankshares’s previous quarterly dividend of $0.22. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.71%. Bar Harbor Bankshares’s dividend payout ratio is presently 40.73%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BHB. IFP Advisors Inc bought a new stake in Bar Harbor Bankshares during the 3rd quarter worth approximately $27,000. SG Americas Securities LLC bought a new stake in shares of Bar Harbor Bankshares during the third quarter worth $162,000. Naples Global Advisors LLC raised its holdings in shares of Bar Harbor Bankshares by 2.5% in the third quarter. Naples Global Advisors LLC now owns 38,451 shares of the financial services provider’s stock valued at $909,000 after buying an additional 925 shares during the last quarter. Bailard Inc. acquired a new position in Bar Harbor Bankshares during the 3rd quarter worth about $395,000. Finally, Punch & Associates Investment Management Inc. grew its holdings in Bar Harbor Bankshares by 0.9% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 379,439 shares of the financial services provider’s stock worth $8,966,000 after acquiring an additional 3,226 shares during the last quarter. 54.49% of the stock is owned by institutional investors.

Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides banking and nonbanking products and services primarily to consumers and businesses. 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.