Foundry Partners LLC Buys 870 Shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Foundry Partners LLC lifted its stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,435 shares of the financial services provider’s stock after acquiring an additional 870 shares during the period. Foundry Partners LLC owned 0.62% of Bar Harbor Bankshares worth $2,912,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in Bar Harbor Bankshares by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 865,524 shares of the financial services provider’s stock valued at $23,264,000 after purchasing an additional 24,718 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Bar Harbor Bankshares by 1.5% in the first quarter. Vanguard Group Inc. now owns 769,738 shares of the financial services provider’s stock valued at $20,383,000 after purchasing an additional 11,091 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Bar Harbor Bankshares by 23.7% in the second quarter. American Century Companies Inc. now owns 213,136 shares of the financial services provider’s stock valued at $5,729,000 after purchasing an additional 40,891 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Bar Harbor Bankshares by 10.3% in the second quarter. Renaissance Technologies LLC now owns 101,330 shares of the financial services provider’s stock valued at $2,724,000 after purchasing an additional 9,500 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Bar Harbor Bankshares by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 94,240 shares of the financial services provider’s stock worth $2,533,000 after acquiring an additional 3,202 shares during the period. 54.49% of the stock is owned by institutional investors and hedge funds.

Bar Harbor Bankshares Stock Performance

Shares of BHB stock opened at $35.49 on Friday. The stock has a market capitalization of $541.93 million, a P/E ratio of 12.77 and a beta of 0.67. Bar Harbor Bankshares has a 52-week low of $23.26 and a 52-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.

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

Bar Harbor Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Thursday, November 14th. Bar Harbor Bankshares’s dividend payout ratio (DPR) is 43.17%.

Wall Street Analysts Forecast Growth

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

Bar Harbor Bankshares 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.