Thrivent Financial for Lutherans lifted its position in Bar Harbor Bankshares (NYSEAMERICAN:BHB - Free Report) by 196.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,019 shares of the financial services provider's stock after purchasing an additional 15,245 shares during the quarter. Thrivent Financial for Lutherans owned 0.15% of Bar Harbor Bankshares worth $710,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bailard Inc. boosted its holdings in shares of Bar Harbor Bankshares by 118.3% in the 2nd quarter. Bailard Inc. now owns 18,821 shares of the financial services provider's stock worth $506,000 after purchasing an additional 10,200 shares in the last quarter. SlateStone Wealth LLC bought a new stake in shares of Bar Harbor Bankshares in the 2nd quarter valued at about $201,000. Bank of New York Mellon Corp lifted its stake in shares of Bar Harbor Bankshares by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 94,240 shares of the financial services provider's stock valued at $2,533,000 after acquiring an additional 3,202 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Bar Harbor Bankshares by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 769,738 shares of the financial services provider's stock valued at $20,383,000 after acquiring an additional 11,091 shares during the last quarter. Finally, Means Investment CO. Inc. lifted its stake in shares of Bar Harbor Bankshares by 14.0% in the 3rd quarter. Means Investment CO. Inc. now owns 30,072 shares of the financial services provider's stock valued at $927,000 after acquiring an additional 3,685 shares during the last quarter. 54.49% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have recently weighed in on BHB. Keefe, Bruyette & Woods boosted their target price on Bar Harbor Bankshares from $30.00 to $34.00 and gave the company a "market perform" rating in a research note on Wednesday. Piper Sandler reaffirmed a "neutral" rating and set a $33.00 price target on shares of Bar Harbor Bankshares in a research report on Thursday, September 5th.
Read Our Latest Stock Report on Bar Harbor Bankshares
Bar Harbor Bankshares Stock Performance
BHB traded up $0.25 during trading on Wednesday, hitting $35.73. 18,727 shares of the company's stock traded hands, compared to its average volume of 36,756. 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 has a 12-month low of $23.26 and a 12-month high of $38.47. The company has a market cap of $545.60 million, a price-to-earnings ratio of 12.80 and a beta of 0.69.
Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.68 by $0.12. Bar Harbor Bankshares had a return on equity of 9.66% and a net margin of 18.99%. The business had revenue of $58.23 million for the quarter, compared to the consensus estimate of $37.30 million. Research analysts anticipate that Bar Harbor Bankshares will post 2.82 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, December 13th. Stockholders of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.36%. Bar Harbor Bankshares's dividend payout ratio (DPR) is currently 43.17%.
Bar Harbor Bankshares Profile
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Free Report)
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.
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