Bar Harbor Bankshares (NYSEAMERICAN:BHB) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its holdings in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 0.3% in the 2nd quarter, Holdings Channel reports. The fund owned 360,124 shares of the financial services provider’s stock after selling 1,014 shares during the period. The Manufacturers Life Insurance Company’s holdings in Bar Harbor Bankshares were worth $9,680,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BHB. BNP Paribas Financial Markets grew its stake in Bar Harbor Bankshares by 91.1% in the first quarter. BNP Paribas Financial Markets now owns 7,191 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 3,429 shares in the last quarter. SlateStone Wealth LLC acquired a new position in Bar Harbor Bankshares in the second quarter worth about $201,000. Prosperity Consulting Group LLC acquired a new position in Bar Harbor Bankshares in the first quarter worth about $289,000. Black Maple Capital Management LP acquired a new position in Bar Harbor Bankshares in the first quarter worth about $402,000. Finally, Bailard Inc. grew its stake in Bar Harbor Bankshares by 118.3% in the second quarter. Bailard Inc. now owns 18,821 shares of the financial services provider’s stock worth $506,000 after purchasing an additional 10,200 shares in the last quarter. 54.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Bar Harbor Bankshares Stock Performance

Shares of BHB stock opened at $28.81 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.00 and a quick ratio of 1.00. Bar Harbor Bankshares has a 52 week low of $23.18 and a 52 week high of $33.31. The company has a market capitalization of $439.93 million, a price-to-earnings ratio of 10.48 and a beta of 0.68.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued 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). Bar Harbor Bankshares had a net margin of 18.86% and a return on equity of 9.72%. The company had revenue of $37.39 million during the quarter, compared to analyst estimates of $36.80 million. On average, research analysts forecast that Bar Harbor Bankshares will post 2.68 EPS for the current year.

Bar Harbor Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 4.17%. Bar Harbor Bankshares’s payout ratio is currently 43.64%.

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.