Moors & Cabot Inc. Invests $214,000 in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Moors & Cabot Inc. acquired a new stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,950 shares of the financial services provider’s stock, valued at approximately $214,000.

A number of other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Bar Harbor Bankshares by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 865,524 shares of the financial services provider’s stock valued at $23,264,000 after buying an additional 24,718 shares in the last quarter. Vanguard Group Inc. raised its position in Bar Harbor Bankshares by 1.5% during the first quarter. Vanguard Group Inc. now owns 769,738 shares of the financial services provider’s stock valued at $20,383,000 after purchasing an additional 11,091 shares in the last quarter. American Century Companies Inc. lifted its stake in Bar Harbor Bankshares by 23.7% during the second quarter. American Century Companies Inc. now owns 213,136 shares of the financial services provider’s stock worth $5,729,000 after purchasing an additional 40,891 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Bar Harbor Bankshares by 10.3% in the 2nd quarter. Renaissance Technologies LLC now owns 101,330 shares of the financial services provider’s stock worth $2,724,000 after purchasing an additional 9,500 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position 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 valued at $2,533,000 after purchasing an additional 3,202 shares during the last quarter. Hedge funds and other institutional investors own 54.49% of the company’s stock.

Bar Harbor Bankshares Trading Up 1.6 %

NYSEAMERICAN BHB opened at $35.97 on Monday. The company has a market capitalization of $549.26 million, a price-to-earnings ratio of 12.94 and a beta of 0.67. Bar Harbor Bankshares has a fifty-two week low of $23.26 and a fifty-two week high of $38.47. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.96 and a quick ratio of 0.96.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released 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. Bar Harbor Bankshares had a net margin of 18.99% and a return on equity of 9.66%. The business had revenue of $58.23 million for the quarter, compared to analysts’ expectations of $37.30 million. On average, sell-side analysts expect that Bar Harbor Bankshares will post 2.82 earnings per share for the current year.

Bar Harbor Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, November 14th. Bar Harbor Bankshares’s dividend payout ratio is currently 43.17%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler restated a “neutral” rating and issued a $33.00 target price on shares of Bar Harbor Bankshares in a research report on Thursday, September 5th.

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.