Janney Montgomery Scott LLC Has $762,000 Holdings in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Janney Montgomery Scott LLC cut its stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,720 shares of the financial services provider’s stock after selling 1,350 shares during the period. Janney Montgomery Scott LLC’s holdings in Bar Harbor Bankshares were worth $762,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BHB. BNP Paribas Financial Markets increased its holdings in Bar Harbor Bankshares by 91.1% during the 1st quarter. BNP Paribas Financial Markets now owns 7,191 shares of the financial services provider’s stock valued at $190,000 after purchasing an additional 3,429 shares in the last quarter. SlateStone Wealth LLC acquired a new stake in Bar Harbor Bankshares during the 2nd quarter valued at $201,000. Sky Investment Group LLC acquired a new stake in Bar Harbor Bankshares during the 3rd quarter valued at $216,000. First Bancorp Inc ME acquired a new stake in Bar Harbor Bankshares during the 3rd quarter valued at $220,000. Finally, Algert Global LLC increased its holdings in Bar Harbor Bankshares by 19.7% during the 2nd quarter. Algert Global LLC now owns 9,302 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 1,530 shares in the last quarter. 54.49% of the stock is owned by institutional investors and hedge funds.

Bar Harbor Bankshares Price Performance

NYSEAMERICAN BHB opened at $35.68 on Monday. The firm has a market capitalization of $544.83 million, a PE ratio of 12.83 and a beta of 0.67. Bar Harbor Bankshares has a 52 week low of $23.26 and a 52 week 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.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.68 by $0.12. The company had revenue of $58.23 million during the quarter, compared to analysts’ expectations of $37.30 million. Bar Harbor Bankshares had a return on equity of 9.66% and a net margin of 18.99%. On average, sell-side analysts anticipate that Bar Harbor Bankshares will post 2.82 earnings per share for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.36%. Bar Harbor Bankshares’s dividend payout ratio (DPR) is currently 43.17%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reaffirmed a “neutral” rating and set a $33.00 price target 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.