Empowered Funds LLC Has $1.35 Million Stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Empowered Funds LLC lifted its position in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 5.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,633 shares of the financial services provider’s stock after acquiring an additional 2,144 shares during the quarter. Empowered Funds LLC owned approximately 0.29% of Bar Harbor Bankshares worth $1,346,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in Bar Harbor Bankshares by 91.1% during the 1st quarter. BNP Paribas Financial Markets now owns 7,191 shares of the financial services provider’s stock worth $190,000 after buying an additional 3,429 shares during the period. Vanguard Group Inc. raised its holdings in shares of Bar Harbor Bankshares by 1.5% during the first quarter. Vanguard Group Inc. now owns 769,738 shares of the financial services provider’s stock valued at $20,383,000 after purchasing an additional 11,091 shares during the period. Black Maple Capital Management LP acquired a new stake in Bar Harbor Bankshares in the first quarter valued at approximately $402,000. Naples Global Advisors LLC raised its holdings 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 buying an additional 820 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in 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 purchasing an additional 3,202 shares during the last quarter. 54.49% of the stock is currently owned by institutional investors and hedge funds.

Bar Harbor Bankshares Trading Up 1.7 %

BHB opened at $35.49 on Friday. Bar Harbor Bankshares has a 12-month low of $23.26 and a 12-month high of $38.47. The firm 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 quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.54.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released 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 for the quarter, compared to analysts’ expectations of $37.30 million. Bar Harbor Bankshares had a return on equity of 9.66% and a net margin of 18.99%. Research analysts forecast 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 paid 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 currently 43.17%.

Analyst Ratings Changes

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

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.