SlateStone Wealth LLC Invests $220,000 in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

SlateStone Wealth LLC bought a new position in Bar Harbor Bankshares (NYSEAMERICAN:BHB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,493 shares of the financial services provider’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Bar Harbor Bankshares by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 734,214 shares of the financial services provider’s stock worth $17,349,000 after buying an additional 9,802 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its holdings in Bar Harbor Bankshares by 0.9% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 379,439 shares of the financial services provider’s stock worth $8,966,000 after buying an additional 3,226 shares in the last quarter. North Star Investment Management Corp. boosted its position in shares of Bar Harbor Bankshares by 0.7% in the 4th quarter. North Star Investment Management Corp. now owns 130,080 shares of the financial services provider’s stock worth $3,819,000 after purchasing an additional 960 shares during the last quarter. Naples Global Advisors LLC boosted its position in shares of Bar Harbor Bankshares by 6.1% in the 4th quarter. Naples Global Advisors LLC now owns 40,783 shares of the financial services provider’s stock worth $1,197,000 after purchasing an additional 2,332 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Bar Harbor Bankshares by 2.5% in the 3rd quarter. Swiss National Bank now owns 33,300 shares of the financial services provider’s stock worth $787,000 after purchasing an additional 800 shares during the last quarter. 54.49% of the stock is owned by institutional investors and hedge funds.

Bar Harbor Bankshares Stock Performance

Bar Harbor Bankshares stock traded up $0.07 during mid-day trading on Wednesday, hitting $25.35. 3,586 shares of the company’s stock were exchanged, compared to its average volume of 33,652. The company has a market capitalization of $385.07 million, a PE ratio of 9.17 and a beta of 0.74. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. Bar Harbor Bankshares has a fifty-two week low of $19.55 and a fifty-two week high of $30.37.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $36.64 million during the quarter, compared to analysts’ expectations of $37.10 million. Bar Harbor Bankshares had a return on equity of 10.17% and a net margin of 19.51%. On average, research analysts predict that Bar Harbor Bankshares will post 2.75 EPS for the current year.

Bar Harbor Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.30 per share. This is a boost from Bar Harbor Bankshares’s previous quarterly dividend of $0.22. This represents a $1.20 annualized dividend and a dividend yield of 4.73%. The ex-dividend date is Wednesday, May 15th. Bar Harbor Bankshares’s dividend payout ratio (DPR) is currently 40.73%.

Analyst Upgrades and Downgrades

BHB has been the topic of several recent research reports. TheStreet lowered Bar Harbor Bankshares from a “b” rating to a “c+” rating in a research report on Monday, March 11th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $28.00 price target (down from $29.00) on shares of Bar Harbor Bankshares in a research report on Monday.

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.