Bar Harbor Wealth Management Has $12.88 Million Stock Holdings in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Bar Harbor Wealth Management cut its stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 417,640 shares of the financial services provider’s stock after selling 2,372 shares during the period. Bar Harbor Wealth Management’s holdings in Bar Harbor Bankshares were worth $12,880,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BHB. BNP Paribas Financial Markets increased 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 valued at $190,000 after purchasing an additional 3,429 shares in the last quarter. SlateStone Wealth LLC acquired a new position in Bar Harbor Bankshares during the 2nd quarter worth approximately $201,000. Algert Global LLC boosted its holdings in 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 worth $250,000 after acquiring an additional 1,530 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Bar Harbor Bankshares in the third quarter valued at approximately $293,000. Finally, Prosperity Consulting Group LLC purchased a new position in Bar Harbor Bankshares during the first quarter worth about $289,000. Institutional investors own 54.49% of the company’s stock.

Bar Harbor Bankshares Stock Performance

Shares of BHB opened at $31.78 on Friday. Bar Harbor Bankshares has a 1 year low of $23.18 and a 1 year high of $33.31. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $485.28 million, a price-to-earnings ratio of 11.73 and a beta of 0.68.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The firm had revenue of $37.39 million during the quarter, compared to the consensus estimate of $36.80 million. Bar Harbor Bankshares had a net margin of 18.86% and a return on equity of 9.72%. As a group, analysts forecast that Bar Harbor Bankshares will post 2.68 EPS for the current year.

Analyst Ratings Changes

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

Bar Harbor Bankshares 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.