State Street Corp Has $11.19 Million Stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

State Street Corp increased its stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB - Free Report) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 362,823 shares of the financial services provider's stock after purchasing an additional 19,118 shares during the period. State Street Corp owned 2.38% of Bar Harbor Bankshares worth $11,189,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Janus Henderson Group PLC bought a new position in shares of Bar Harbor Bankshares in the 3rd quarter valued at about $203,000. Camden National Bank acquired a new position in Bar Harbor Bankshares in the third quarter valued at approximately $214,000. Moors & Cabot Inc. bought a new position in Bar Harbor Bankshares in the third quarter valued at approximately $214,000. Sky Investment Group LLC acquired a new stake in Bar Harbor Bankshares during the 3rd quarter worth $216,000. Finally, First Bancorp Inc ME bought a new stake in shares of Bar Harbor Bankshares during the 3rd quarter valued at $220,000. Institutional investors and hedge funds own 54.49% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on BHB. Keefe, Bruyette & Woods lifted their price objective on shares of 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. Piper Sandler reissued a "neutral" rating and set a $33.00 price target on shares of Bar Harbor Bankshares in a research report on Thursday, September 5th.

Bar Harbor Bankshares Price Performance

Shares of NYSEAMERICAN:BHB traded down $0.29 during midday trading on Thursday, hitting $30.96. The stock had a trading volume of 23,140 shares, compared to its average volume of 37,527. The stock has a market capitalization of $472.76 million, a PE ratio of 11.14 and a beta of 0.69. Bar Harbor Bankshares has a 12 month low of $23.26 and a 12 month high of $38.47. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54.

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, topping analysts' consensus estimates of $0.68 by $0.12. The business had revenue of $58.23 million during 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%. On average, 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 declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Thursday, November 14th were paid a $0.30 dividend. 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 3.88%. Bar Harbor Bankshares's dividend payout ratio (DPR) is currently 43.17%.

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.