Bar Harbor Bankshares (NYSEAMERICAN:BHB) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC grew its stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 10.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,330 shares of the financial services provider’s stock after purchasing an additional 9,500 shares during the period. Renaissance Technologies LLC’s holdings in Bar Harbor Bankshares were worth $2,724,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings 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 valued at $23,264,000 after purchasing an additional 24,718 shares during the period. Vanguard Group Inc. grew its holdings 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 worth $20,383,000 after acquiring an additional 11,091 shares during the period. American Century Companies Inc. grew its holdings 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 acquiring an additional 40,891 shares during the period. Bank of New York Mellon Corp grew its holdings in Bar Harbor Bankshares by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 94,240 shares of the financial services provider’s stock worth $2,533,000 after acquiring an additional 3,202 shares during the period. Finally, Naples Global Advisors LLC grew its holdings in Bar Harbor Bankshares by 2.1% during the second quarter. Naples Global Advisors LLC now owns 40,706 shares of the financial services provider’s stock worth $1,094,000 after acquiring an additional 820 shares during the period. Institutional investors and hedge funds own 54.49% of the company’s stock.

Bar Harbor Bankshares Stock Up 2.1 %

Shares of BHB stock opened at $30.84 on Tuesday. Bar Harbor Bankshares has a 1-year low of $23.18 and a 1-year high of $33.31. The firm has a market cap of $470.93 million, a P/E ratio of 11.21 and a beta of 0.68. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The firm had revenue of $37.39 million for the quarter, compared to analysts’ expectations of $36.80 million. Bar Harbor Bankshares had a return on equity of 9.72% and a net margin of 18.86%. As a group, equities research analysts anticipate that Bar Harbor Bankshares will post 2.68 EPS for the current year.

Bar Harbor Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 3.89%. Bar Harbor Bankshares’s payout ratio is 43.64%.

Analysts Set New Price Targets

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

Bar Harbor Bankshares Company Profile

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.