Foundry Partners LLC Has $2.80 Million Stock Holdings in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Foundry Partners LLC reduced its position in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 95,255 shares of the financial services provider’s stock after selling 1,755 shares during the quarter. Foundry Partners LLC’s holdings in Bar Harbor Bankshares were worth $2,797,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BHB. IFP Advisors Inc acquired a new stake in Bar Harbor Bankshares in the 3rd quarter valued at $27,000. Headinvest LLC acquired a new stake in Bar Harbor Bankshares in the 3rd quarter valued at $96,000. SG Americas Securities LLC acquired a new stake in Bar Harbor Bankshares in the 3rd quarter valued at $162,000. First Bancorp Inc ME acquired a new stake in Bar Harbor Bankshares in the 4th quarter valued at $209,000. Finally, Sky Investment Group LLC acquired a new stake in Bar Harbor Bankshares in the 4th quarter valued at $238,000. 54.49% of the stock is owned by institutional investors and hedge funds.

Bar Harbor Bankshares Stock Performance

Shares of NYSEAMERICAN:BHB opened at $25.48 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The firm has a market cap of $387.04 million, a price-to-earnings ratio of 9.17 and a beta of 0.74. Bar Harbor Bankshares has a 1-year low of $19.55 and a 1-year high of $30.37.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $37.64 million during the quarter, compared to analyst estimates of $37.40 million. Bar Harbor Bankshares had a return on equity of 10.17% and a net margin of 19.51%. As a group, research analysts expect that Bar Harbor Bankshares will post 2.75 earnings per share for the current fiscal year.

Bar Harbor Bankshares Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $28.00 price target (down previously from $29.00) on shares of Bar Harbor Bankshares in a research report on Monday. TheStreet cut Bar Harbor Bankshares from a “b” rating to a “c+” rating in a research note on Monday, March 11th.

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.