Bar Harbor Bankshares (NYSEAMERICAN:BHB) Issues Earnings Results, Beats Estimates By $0.11 EPS

Bar Harbor Bankshares (NYSEAMERICAN:BHB) issued its earnings results on Thursday. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11, FiscalAI reports. Bar Harbor Bankshares had a return on equity of 11.69% and a net margin of 20.95%. The company had revenue of $51.49 million during the quarter, compared to analyst estimates of $50.97 million.

Bar Harbor Bankshares Trading Up 2.5%

NYSEAMERICAN BHB opened at $40.46 on Friday. The company has a market capitalization of $678.51 million, a PE ratio of 11.97 and a beta of 0.63. The company has a fifty day moving average of $39.43 and a 200 day moving average of $37.54. Bar Harbor Bankshares has a 1 year low of $28.50 and a 1 year high of $41.12. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.96 and a quick ratio of 0.96.

Bar Harbor Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Thursday, November 19th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, November 19th. This represents a $1.36 dividend on an annualized basis and a yield of 3.4%. Bar Harbor Bankshares’s payout ratio is currently 47.72%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BHB shares. Zacks Research raised Bar Harbor Bankshares from a “strong sell” rating to a “hold” rating in a report on Friday, September 25th. Piper Sandler reaffirmed an “overweight” rating and set a $44.00 target price (up from $41.00) on shares of Bar Harbor Bankshares in a report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Bar Harbor Bankshares in a research report on Friday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Bar Harbor Bankshares has an average rating of “Hold” and a consensus price target of $41.00.

More Bar Harbor Bankshares News

Here are the key news stories impacting Bar Harbor Bankshares this week:

• Positive Sentiment: Q3 earnings and revenue exceeded expectations. Bar Harbor Bankshares reported earnings of $1.04 per share, above the $0.93 analyst consensus and up from $0.95 a year earlier. Revenue reached $51.49 million versus the $50.17 million estimate. Bar Harbor Bankshares Beats Q3 Earnings and Revenue Estimates
• Positive Sentiment: Profitability and banking fundamentals remained strong. Commentary highlighted a 3.77% net interest margin, loan growth, stabilizing deposit costs, a 55.26% efficiency ratio and relatively low credit stress. The company also posted an 18.46% net margin and 11.41% return on equity, supporting the positive investor reaction. Bar Harbor: A Great Quarter Bucking The Trend
• Positive Sentiment: The quarterly dividend was declared at $0.34 per share. Payable December 18 to shareholders of record November 19, the dividend represents $1.36 annually and provides an indicated yield of roughly 3.3%. Bar Harbor Bankshares Announces Quarterly Dividend
• Neutral Sentiment: Third-quarter charge-offs were reported, but the available announcement does not provide the charge-off amount or indicate whether losses changed materially from the prior year. Investors will need those details to assess any impact on credit quality and provisions. Bar Harbor Bankshares Reports Third-Quarter Charge-Offs

Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares (NYSE American: BHB) is a bank holding company for Bar Harbor Bank & Trust, a community banking institution headquartered in Bar Harbor, Maine. The bank traces its roots to 1887 and serves individuals, families, businesses and nonprofit organizations through a network of banking offices and digital channels.

Bar Harbor Bank & Trust provides a range of financial services, including checking and savings accounts, certificates of deposit, consumer and residential lending, commercial loans, cash-management services and online and mobile banking.