Bar Harbor Bankshares (NYSEAMERICAN:BHB) Price Target Raised to $34.00 at Keefe, Bruyette & Woods

Bar Harbor Bankshares (NYSEAMERICAN:BHB) had its price target boosted by Keefe, Bruyette & Woods from $30.00 to $34.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential downside of 4.47% from the stock’s previous close.

Separately, Piper Sandler restated a “neutral” rating and issued a $33.00 price objective on shares of Bar Harbor Bankshares in a research note on Thursday, September 5th.

Bar Harbor Bankshares Stock Performance

Shares of NYSEAMERICAN BHB traded up $0.11 during mid-day trading on Wednesday, reaching $35.59. 12,227 shares of the company traded hands, compared to its average volume of 36,731. Bar Harbor Bankshares has a fifty-two week low of $23.26 and a fifty-two week high of $38.47. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $543.46 million, a price-to-earnings ratio of 12.80 and a beta of 0.69.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.12. Bar Harbor Bankshares had a net margin of 18.99% and a return on equity of 9.66%. The firm had revenue of $58.23 million during the quarter, compared to analyst estimates of $37.30 million. As a group, equities research analysts expect that Bar Harbor Bankshares will post 2.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.