Bar Harbor Bankshares (NYSEAMERICAN:BHB) Position Boosted by Foundry Partners LLC

Foundry Partners LLC lifted its stake in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 94,435 shares of the financial services provider’s stock after purchasing an additional 870 shares during the period. Foundry Partners LLC’s holdings in Bar Harbor Bankshares were worth $2,912,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Naples Global Advisors LLC raised its stake 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. Algert Global LLC increased its stake 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 valued at $250,000 after purchasing an additional 1,530 shares during the period. Empowered Funds LLC increased its stake in shares of Bar Harbor Bankshares by 5.2% in the third quarter. Empowered Funds LLC now owns 43,633 shares of the financial services provider’s stock valued at $1,346,000 after purchasing an additional 2,144 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Bar Harbor Bankshares by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 94,240 shares of the financial services provider’s stock valued at $2,533,000 after purchasing an additional 3,202 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of 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 valued at $190,000 after purchasing an additional 3,429 shares during the period. Institutional investors and hedge funds own 54.49% of the company’s stock.

Bar Harbor Bankshares Stock Performance

Shares of NYSEAMERICAN:BHB opened at $35.49 on Friday. Bar Harbor Bankshares has a 52 week low of $23.26 and a 52 week high of $38.47. The company has a market capitalization of $541.93 million, a price-to-earnings ratio of 12.77 and a beta of 0.67. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54.

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

Bar Harbor Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Thursday, November 14th. Bar Harbor Bankshares’s dividend payout ratio (DPR) is presently 43.17%.

Wall Street Analyst Weigh In

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

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.