Moors & Cabot Inc. Makes New Investment in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Moors & Cabot Inc. purchased a new stake in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 6,950 shares of the financial services provider’s stock, valued at approximately $214,000.

Other institutional investors also recently modified their holdings of the company. SlateStone Wealth LLC purchased a new stake in Bar Harbor Bankshares in the second quarter worth approximately $201,000. Sky Investment Group LLC purchased a new position in shares of Bar Harbor Bankshares in the 3rd quarter worth $216,000. First Bancorp Inc ME bought a new stake in shares of Bar Harbor Bankshares in the third quarter worth $220,000. Algert Global LLC grew its holdings in shares of Bar Harbor Bankshares by 19.7% in the second 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 during the period. Finally, SG Americas Securities LLC purchased a new stake in Bar Harbor Bankshares during the third quarter valued at $293,000. 54.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Bar Harbor Bankshares Trading Up 1.6 %

Shares of Bar Harbor Bankshares stock opened at $35.97 on Monday. Bar Harbor Bankshares has a 1-year low of $23.26 and a 1-year high of $38.47. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $549.26 million, a PE ratio of 12.94 and a beta of 0.67.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its 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 for 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, research analysts predict that Bar Harbor Bankshares will post 2.82 EPS 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. Investors of record on Thursday, November 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Thursday, November 14th. Bar Harbor Bankshares’s dividend payout ratio is 43.17%.

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.