Geode Capital Management LLC Acquires 3,602 Shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Geode Capital Management LLC lifted its holdings in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 1.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 335,432 shares of the financial services provider’s stock after acquiring an additional 3,602 shares during the quarter. Geode Capital Management LLC’s holdings in Bar Harbor Bankshares were worth $10,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of BHB. Janus Henderson Group PLC bought a new stake in Bar Harbor Bankshares in the 3rd quarter worth approximately $203,000. Moors & Cabot Inc. bought a new stake in shares of Bar Harbor Bankshares in the third quarter worth $214,000. Camden National Bank bought a new stake in shares of Bar Harbor Bankshares in the third quarter worth $214,000. Sky Investment Group LLC purchased a new stake in Bar Harbor Bankshares during the third quarter valued at $216,000. Finally, First Bancorp Inc ME bought a new position in Bar Harbor Bankshares in the third quarter valued at about $220,000. 54.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Piper Sandler restated a “neutral” rating and set a $33.00 price target on shares of Bar Harbor Bankshares in a research note on Thursday, September 5th. Keefe, Bruyette & Woods boosted their price objective on shares of Bar Harbor Bankshares from $30.00 to $34.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Bar Harbor Bankshares Price Performance

Bar Harbor Bankshares stock opened at $30.58 on Thursday. Bar Harbor Bankshares has a 12-month low of $23.26 and a 12-month high of $38.47. The company has a market capitalization of $466.96 million, a P/E ratio of 11.00 and a beta of 0.69. 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 announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.12. The firm had revenue of $58.23 million during the quarter, compared to analysts’ expectations of $37.30 million. Bar Harbor Bankshares had a net margin of 18.99% and a return on equity of 9.66%. Sell-side analysts predict that Bar Harbor Bankshares will post 2.82 earnings per share for the current year.

Bar Harbor Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Thursday, November 14th were paid a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.92%. Bar Harbor Bankshares’s payout ratio is presently 43.17%.

About Bar Harbor Bankshares

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.