Enterprise Bank & Trust Co Sells 20,500 Shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Enterprise Bank & Trust Co lowered its holdings in Bar Harbor Bankshares (NYSEAMERICAN:BHB - Free Report) by 52.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 18,447 shares of the financial services provider's stock after selling 20,500 shares during the quarter. Enterprise Bank & Trust Co owned approximately 0.12% of Bar Harbor Bankshares worth $564,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Bar Harbor Bankshares by 77.4% during the third quarter. JPMorgan Chase & Co. now owns 50,916 shares of the financial services provider's stock valued at $1,570,000 after buying an additional 22,212 shares during the period. Barclays PLC grew its holdings in shares of Bar Harbor Bankshares by 50.0% during the 3rd quarter. Barclays PLC now owns 49,714 shares of the financial services provider's stock worth $1,533,000 after acquiring an additional 16,579 shares during the period. Arete Wealth Advisors LLC raised its position in shares of Bar Harbor Bankshares by 21.4% in the 3rd quarter. Arete Wealth Advisors LLC now owns 9,615 shares of the financial services provider's stock worth $295,000 after acquiring an additional 1,694 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Bar Harbor Bankshares by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 335,432 shares of the financial services provider's stock valued at $10,348,000 after purchasing an additional 3,602 shares during the period. Finally, State Street Corp boosted its position in shares of Bar Harbor Bankshares by 5.6% during the third quarter. State Street Corp now owns 362,823 shares of the financial services provider's stock valued at $11,189,000 after purchasing an additional 19,118 shares in the last quarter. 54.49% of the stock is currently owned by institutional investors.

Bar Harbor Bankshares Price Performance

NYSEAMERICAN:BHB traded up $0.93 during trading hours on Monday, hitting $29.97. 47,561 shares of the stock traded hands, compared to its average volume of 48,937. The company has a market capitalization of $457.64 million, a P/E ratio of 10.78 and a beta of 0.69. Bar Harbor Bankshares has a 1 year low of $23.26 and a 1 year high of $38.47. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.96 and a quick ratio of 0.96.

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.12. The business had revenue of $58.23 million for the quarter, compared to analysts' expectations of $37.30 million. Bar Harbor Bankshares had a return on equity of 9.66% and a net margin of 18.99%. Research analysts expect that Bar Harbor Bankshares will post 2.82 EPS for the current fiscal year.

Bar Harbor Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Thursday, November 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 4.00%. Bar Harbor Bankshares's dividend payout ratio (DPR) is presently 43.17%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upped their price target on Bar Harbor Bankshares from $30.00 to $34.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th.

Bar Harbor Bankshares 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.