Bar Harbor Bankshares (NYSEAMERICAN:BHB) Rating Reiterated by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) in a research report released on Monday, Benzinga reports. The firm currently has a $28.00 price objective on the financial services provider’s stock, down from their prior price objective of $29.00.

Separately, TheStreet cut Bar Harbor Bankshares from a b rating to a c+ rating in a report on Monday, March 11th.

Bar Harbor Bankshares Stock Performance

Shares of BHB stock opened at $25.55 on Monday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. Bar Harbor Bankshares has a twelve month low of $19.55 and a twelve month high of $30.37. The firm has a market cap of $388.10 million, a P/E ratio of 9.29 and a beta of 0.74.

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

Bar Harbor Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 16th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.20 annualized dividend and a yield of 4.70%. This is a positive change from Bar Harbor Bankshares’s previous quarterly dividend of $0.22. Bar Harbor Bankshares’s dividend payout ratio is presently 40.73%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Carl P. Sherr & Co. LLC increased its position in shares of Bar Harbor Bankshares by 2.0% during the fourth quarter. Carl P. Sherr & Co. LLC now owns 21,108 shares of the financial services provider’s stock valued at $620,000 after acquiring an additional 409 shares during the last quarter. Swiss National Bank increased its position in Bar Harbor Bankshares by 2.5% in the third quarter. Swiss National Bank now owns 33,300 shares of the financial services provider’s stock worth $787,000 after buying an additional 800 shares during the last quarter. Naples Global Advisors LLC increased its position in Bar Harbor Bankshares by 2.5% in the third quarter. Naples Global Advisors LLC now owns 38,451 shares of the financial services provider’s stock worth $909,000 after buying an additional 925 shares during the last quarter. North Star Investment Management Corp. increased its position in Bar Harbor Bankshares by 0.7% in the fourth quarter. North Star Investment Management Corp. now owns 130,080 shares of the financial services provider’s stock worth $3,819,000 after buying an additional 960 shares during the last quarter. Finally, IFP Advisors Inc purchased a new stake in Bar Harbor Bankshares in the third quarter worth $27,000. Institutional investors own 54.49% of the company’s stock.

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.