Bar Harbor Bankshares (NYSEAMERICAN:BHB) Rating Reiterated by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $28.00 price objective on the financial services provider’s stock, down from their prior price objective of $29.00.

Separately, TheStreet lowered Bar Harbor Bankshares from a b rating to a c+ rating in a research report on Monday, March 11th.

Bar Harbor Bankshares Stock Performance

Shares of Bar Harbor Bankshares stock opened at $25.55 on Monday. Bar Harbor Bankshares has a 1-year low of $19.55 and a 1-year high of $30.37. The company has a market cap of $388.10 million, a PE ratio of 9.29 and a beta of 0.74. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Bar Harbor Bankshares had a return on equity of 10.17% and a net margin of 19.51%. The firm had revenue of $36.64 million for the quarter, compared to analysts’ expectations of $37.10 million. On average, equities analysts expect that Bar Harbor Bankshares will post 2.75 EPS for the current year.

Bar Harbor Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 16th will be given a $0.30 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 4.70%. This is an increase from Bar Harbor Bankshares’s previous quarterly dividend of $0.22. Bar Harbor Bankshares’s dividend payout ratio (DPR) is presently 40.73%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BHB. Brendel Financial Advisors LLC purchased a new stake in Bar Harbor Bankshares in the 4th quarter worth approximately $371,000. SlateStone Wealth LLC acquired a new position in shares of Bar Harbor Bankshares in the 4th quarter valued at $220,000. Vanguard Group Inc. boosted its holdings in shares of Bar Harbor Bankshares by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 734,214 shares of the financial services provider’s stock valued at $17,349,000 after purchasing an additional 9,802 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Bar Harbor Bankshares by 2.5% in the 3rd quarter. Swiss National Bank now owns 33,300 shares of the financial services provider’s stock valued at $787,000 after purchasing an additional 800 shares during the last quarter. Finally, Sky Investment Group LLC acquired a new position in shares of Bar Harbor Bankshares in the 4th quarter valued at $238,000. 54.49% of the stock is owned by hedge funds and other institutional investors.

About Bar Harbor Bankshares

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.