Bar Harbor Bankshares (NYSEAMERICAN:BHB) Stock Holdings Cut by Bangor Savings Bank

Bangor Savings Bank reduced its position in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 36.7% in the first quarter, HoldingsChannel.com reports. The firm owned 8,625 shares of the financial services provider’s stock after selling 5,000 shares during the period. Bangor Savings Bank’s holdings in Bar Harbor Bankshares were worth $228,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Headinvest LLC acquired a new stake in shares of Bar Harbor Bankshares during the 3rd quarter valued at $96,000. Camden National Bank purchased a new stake in shares of Bar Harbor Bankshares in the fourth quarter valued at $203,000. First Bancorp Inc ME purchased a new stake in shares of Bar Harbor Bankshares in the fourth quarter valued at $209,000. SlateStone Wealth LLC purchased a new stake in shares of Bar Harbor Bankshares in the fourth quarter valued at $220,000. Finally, Congress Wealth Management LLC DE purchased a new stake in shares of Bar Harbor Bankshares in the fourth quarter valued at $231,000. Institutional investors and hedge funds own 54.49% of the company’s stock.

Bar Harbor Bankshares Stock Down 3.8 %

NYSEAMERICAN BHB opened at $24.54 on Monday. Bar Harbor Bankshares has a 1-year low of $23.16 and a 1-year high of $30.37. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $373.74 million, a PE ratio of 9.18 and a beta of 0.73.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Bar Harbor Bankshares had a net margin of 19.51% and a return on equity of 10.05%. The business had revenue of $36.64 million for the quarter, compared to the consensus estimate of $37.10 million. As a group, equities analysts anticipate that Bar Harbor Bankshares will post 2.75 earnings per share for the current year.

Bar Harbor Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Thursday, May 16th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.89%. This is an increase from Bar Harbor Bankshares’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, May 15th. Bar Harbor Bankshares’s dividend payout ratio is presently 43.64%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BHB shares. TheStreet lowered Bar Harbor Bankshares from a “b” rating to a “c+” rating in a report on Monday, March 11th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $28.00 target price (down previously from $29.00) on shares of Bar Harbor Bankshares in a report on Monday, April 22nd.

Insiders Place Their Bets

In other Bar Harbor Bankshares news, Director Scott G. Toothaker bought 4,476 shares of the stock in a transaction on Thursday, May 30th. The shares were purchased at an average cost of $25.82 per share, with a total value of $115,570.32. Following the completion of the transaction, the director now directly owns 45,000 shares of the company’s stock, valued at approximately $1,161,900. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 5,466 shares of company stock valued at $140,534 over the last three months. 2.53% of the stock is currently owned by insiders.

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.