Bar Harbor Bankshares (NYSEAMERICAN:BHB) Rating Reiterated by Keefe, Bruyette & Woods

Bar Harbor Bankshares (NYSEAMERICAN:BHB)‘s stock had its “market perform” rating reissued by equities researchers at Keefe, Bruyette & Woods in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $28.00 target price on the financial services provider’s stock, down from their prior target price of $29.00. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 10.54% from the stock’s current price.

Separately, TheStreet downgraded shares of Bar Harbor Bankshares from a “b” rating to a “c+” rating in a research report on Monday, March 11th.

Bar Harbor Bankshares Stock Down 0.6 %

Shares of NYSEAMERICAN BHB opened at $25.33 on Monday. Bar Harbor Bankshares has a 1 year low of $19.55 and a 1 year high of $30.37. The firm has a market cap of $384.76 million, a price-to-earnings ratio of 9.21 and a beta of 0.74. 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 released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $36.64 million during the quarter, compared to analyst estimates of $37.10 million. Bar Harbor Bankshares had a return on equity of 10.17% and a net margin of 19.51%. On average, research analysts expect that Bar Harbor Bankshares will post 2.75 earnings per share for the current year.

Institutional Trading of Bar Harbor Bankshares

Several hedge funds and other institutional investors have recently modified their holdings of the company. Camden National Bank purchased a new stake in shares of Bar Harbor Bankshares during the fourth quarter worth $203,000. Mitchell Sinkler & Starr PA purchased a new stake in shares of Bar Harbor Bankshares during the fourth quarter worth $668,000. Congress Wealth Management LLC DE purchased a new stake in shares of Bar Harbor Bankshares during the fourth quarter worth $231,000. Dimensional Fund Advisors LP raised its holdings in shares of Bar Harbor Bankshares by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 807,635 shares of the financial services provider’s stock worth $23,713,000 after acquiring an additional 21,856 shares in the last quarter. Finally, Meritage Portfolio Management purchased a new stake in shares of Bar Harbor Bankshares during the fourth quarter worth $250,000. 54.49% of the stock is currently owned by hedge funds and other institutional investors.

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.