Keefe, Bruyette & Woods Reaffirms Market Perform Rating for Bar Harbor Bankshares (NYSEAMERICAN:BHB)

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

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

Bar Harbor Bankshares Price Performance

Shares of Bar Harbor Bankshares stock opened at $25.79 on Monday. The company has a market capitalization of $391.75 million, a PE ratio of 9.38 and a beta of 0.74. Bar Harbor Bankshares has a 52 week low of $19.55 and a 52 week high of $30.37. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98.

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

Bar Harbor Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 16th will be given a $0.30 dividend. The ex-dividend date is Wednesday, May 15th. This is a boost from Bar Harbor Bankshares’s previous quarterly dividend of $0.22. This represents a $1.20 annualized dividend and a dividend yield of 4.65%. Bar Harbor Bankshares’s payout ratio is 40.73%.

Hedge Funds Weigh In On Bar Harbor Bankshares

Hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc bought a new stake in Bar Harbor Bankshares during the third quarter valued at $27,000. SG Americas Securities LLC bought a new stake in Bar Harbor Bankshares during the third quarter valued at $162,000. Naples Global Advisors LLC boosted its stake in Bar Harbor Bankshares by 2.5% during the third quarter. Naples Global Advisors LLC now owns 38,451 shares of the financial services provider’s stock valued at $909,000 after buying an additional 925 shares during the period. Bailard Inc. bought a new stake in Bar Harbor Bankshares during the third quarter valued at $395,000. Finally, Punch & Associates Investment Management Inc. boosted its stake in Bar Harbor Bankshares by 0.9% during the third quarter. Punch & Associates Investment Management Inc. now owns 379,439 shares of the financial services provider’s stock valued at $8,966,000 after buying an additional 3,226 shares during the period. 54.49% of the stock is currently owned by hedge funds and other institutional investors.

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.