Keefe, Bruyette & Woods Increases Bar Harbor Bankshares (NYSEAMERICAN:BHB) Price Target to $34.00

Bar Harbor Bankshares (NYSEAMERICAN:BHB) had its target price increased by stock analysts at Keefe, Bruyette & Woods from $30.00 to $34.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 4.74% from the stock’s previous close.

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

Bar Harbor Bankshares Trading Down 0.9 %

Bar Harbor Bankshares stock opened at $35.69 on Wednesday. Bar Harbor Bankshares has a 12-month low of $23.26 and a 12-month high of $38.47. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $544.99 million, a PE ratio of 12.84 and a beta of 0.69.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced 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. Bar Harbor Bankshares had a return on equity of 9.66% and a net margin of 18.99%. The business had revenue of $58.23 million during the quarter, compared to analysts’ expectations of $37.30 million. As a group, equities analysts predict that Bar Harbor Bankshares will post 2.82 EPS for the current year.

Institutional Investors Weigh In On Bar Harbor Bankshares

Several institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. boosted its position 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 period. Dimensional Fund Advisors LP lifted its stake in shares of Bar Harbor Bankshares by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 865,524 shares of the financial services provider’s stock worth $23,264,000 after buying an additional 24,718 shares during the last quarter. State Street Corp boosted its holdings in shares of Bar Harbor Bankshares by 5.6% during the 3rd quarter. State Street Corp now owns 362,823 shares of the financial services provider’s stock worth $11,189,000 after buying an additional 19,118 shares during the period. Barclays PLC boosted its holdings in shares of Bar Harbor Bankshares by 50.0% during the 3rd quarter. Barclays PLC now owns 49,714 shares of the financial services provider’s stock worth $1,533,000 after buying an additional 16,579 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in Bar Harbor Bankshares by 196.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 23,019 shares of the financial services provider’s stock valued at $710,000 after buying an additional 15,245 shares during the last quarter. Institutional investors and hedge funds own 54.49% of the company’s stock.

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.