Enterprise Bank & Trust Co Sells 20,500 Shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Enterprise Bank & Trust Co lowered its stake in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 52.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,447 shares of the financial services provider’s stock after selling 20,500 shares during the quarter. Enterprise Bank & Trust Co owned about 0.12% of Bar Harbor Bankshares worth $564,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Bar Harbor Bankshares by 5.6% in the 3rd quarter. State Street Corp now owns 362,823 shares of the financial services provider’s stock valued at $11,189,000 after purchasing an additional 19,118 shares in the last quarter. Barclays PLC boosted its holdings in shares of Bar Harbor Bankshares by 50.0% during the 3rd quarter. Barclays PLC now owns 49,714 shares of the financial services provider’s stock valued at $1,533,000 after acquiring an additional 16,579 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Bar Harbor Bankshares by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 335,432 shares of the financial services provider’s stock valued at $10,348,000 after acquiring an additional 3,602 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Bar Harbor Bankshares by 196.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 23,019 shares of the financial services provider’s stock valued at $710,000 after acquiring an additional 15,245 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Bar Harbor Bankshares by 3.5% during the 2nd 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 acquiring an additional 3,202 shares in the last quarter. Institutional investors and hedge funds own 54.49% of the company’s stock.

Bar Harbor Bankshares Price Performance

BHB stock traded up $0.88 during mid-day trading on Monday, reaching $29.92. 25,451 shares of the company traded hands, compared to its average volume of 45,464. The company has a market capitalization of $456.88 million, a P/E ratio of 10.76 and a beta of 0.69. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 0.96. Bar Harbor Bankshares has a fifty-two week low of $23.26 and a fifty-two week high of $38.47.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.12. Bar Harbor Bankshares had a return on equity of 9.66% and a net margin of 18.99%. The firm had revenue of $58.23 million for the quarter, compared to the consensus estimate of $37.30 million. Research analysts expect that Bar Harbor Bankshares will post 2.82 EPS for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Thursday, November 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.01%. Bar Harbor Bankshares’s payout ratio is presently 43.17%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their target price on Bar Harbor Bankshares from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

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.