Bar Harbor Bankshares (NYSEAMERICAN:BHB) Shares Purchased by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC boosted its position in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 21.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,615 shares of the financial services provider’s stock after purchasing an additional 1,694 shares during the period. Arete Wealth Advisors LLC owned about 0.06% of Bar Harbor Bankshares worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Foundry Partners LLC boosted its stake in shares of Bar Harbor Bankshares by 0.9% during the 3rd quarter. Foundry Partners LLC now owns 94,435 shares of the financial services provider’s stock worth $2,912,000 after acquiring an additional 870 shares in the last quarter. Algert Global LLC boosted its stake in shares of Bar Harbor Bankshares by 19.7% during the 2nd quarter. Algert Global LLC now owns 9,302 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 1,530 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Bar Harbor Bankshares by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 43,633 shares of the financial services provider’s stock worth $1,346,000 after acquiring an additional 2,144 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Bar Harbor Bankshares by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 94,240 shares of the financial services provider’s stock worth $2,533,000 after acquiring an additional 3,202 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Bar Harbor Bankshares by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 335,432 shares of the financial services provider’s stock worth $10,348,000 after acquiring an additional 3,602 shares in the last quarter. 54.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $33.00 target price on shares of Bar Harbor Bankshares in a research note on Thursday, September 5th. Keefe, Bruyette & Woods upped 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, December 4th.

Bar Harbor Bankshares Trading Down 1.1 %

Shares of BHB opened at $34.50 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $526.82 million, a price-to-earnings ratio of 12.41 and a beta of 0.69. Bar Harbor Bankshares has a fifty-two week low of $23.26 and a fifty-two week high of $38.47.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.12. The company had revenue of $58.23 million during the quarter, compared to the consensus estimate of $37.30 million. Bar Harbor Bankshares had a return on equity of 9.66% and a net margin of 18.99%. As a group, equities research analysts anticipate that Bar Harbor Bankshares will post 2.82 earnings per share for the current year.

Bar Harbor Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.48%. Bar Harbor Bankshares’s payout ratio is 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.