Hsbc Holdings PLC Invests $559,000 in Bar Harbor Bankshares, Inc. $BHB

Hsbc Holdings PLC bought a new stake in Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) in the fourth quarter, HoldingsChannel.com reports. The fund bought 17,996 shares of the financial services provider’s stock, valued at approximately $559,000.

Other large investors also recently bought and sold shares of the company. Corient Private Wealth LLC bought a new position in Bar Harbor Bankshares during the fourth quarter valued at $206,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Bar Harbor Bankshares in the 4th quarter worth about $1,408,000. Empowered Funds LLC raised its position in shares of Bar Harbor Bankshares by 4.6% during the 4th quarter. Empowered Funds LLC now owns 61,278 shares of the financial services provider’s stock valued at $1,903,000 after buying an additional 2,686 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of Bar Harbor Bankshares during the 4th quarter valued at about $315,000. Finally, Odyssean LLC bought a new position in shares of Bar Harbor Bankshares in the 4th quarter valued at about $340,000. Institutional investors own 54.49% of the company’s stock.

Bar Harbor Bankshares Stock Up 3.1%

Shares of NYSEAMERICAN:BHB opened at $39.08 on Friday. The firm has a market capitalization of $654.20 million, a PE ratio of 15.95 and a beta of 0.60. The business has a 50 day simple moving average of $36.15 and a two-hundred day simple moving average of $34.29. Bar Harbor Bankshares, Inc. has a 1 year low of $28.06 and a 1 year high of $39.67. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.94 and a quick ratio of 0.94.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.02. Bar Harbor Bankshares had a return on equity of 10.95% and a net margin of 15.90%.The firm had revenue of $47.29 billion for the quarter, compared to the consensus estimate of $48.22 million. On average, equities analysts predict that Bar Harbor Bankshares, Inc. will post 3.67 EPS for the current year.

Bar Harbor Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, May 21st were given a $0.34 dividend. This is a boost from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $1.36 annualized dividend and a yield of 3.5%. Bar Harbor Bankshares’s dividend payout ratio is currently 47.72%.

Analysts Set New Price Targets

Separately, Piper Sandler reiterated an “overweight” rating and issued a $41.00 price target (up from $39.00) on shares of Bar Harbor Bankshares in a research report on Friday, June 26th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.50.

Insiders Place Their Bets

In other Bar Harbor Bankshares news, Director Matthew L. Caras bought 760 shares of Bar Harbor Bankshares stock in a transaction on Tuesday, April 28th. The shares were acquired at an average price of $34.68 per share, for a total transaction of $26,356.80. Following the completion of the purchase, the director directly owned 22,894 shares in the company, valued at approximately $793,963.92. This trade represents a 3.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.37% of the stock is currently owned by insiders.

Bar Harbor Bankshares Profile

Bar Harbor Bankshares, Inc is a bank holding company headquartered in Ellsworth, Maine, and the parent of Bar Harbor Bank & Trust. The company provides a full suite of commercial and consumer banking products and services, including deposit accounts, residential and commercial lending, wealth management, treasury and cash management, and online and mobile banking solutions. Its subsidiary, Bar Harbor Bank & Trust, operates branches across Maine and eastern New Hampshire, serving both individual and business clients with a focus on community banking relationships.

With roots tracing back to the late 19th century, Bar Harbor Bankshares has built its presence along the coast of Maine, extending from Casco Bay to Downeast communities, and into neighboring New Hampshire markets.