Means Investment CO. Inc. Has $709,000 Holdings in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Means Investment CO. Inc. trimmed its position in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 12.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,387 shares of the financial services provider’s stock after selling 3,923 shares during the quarter. Means Investment CO. Inc. owned 0.17% of Bar Harbor Bankshares worth $709,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BHB. Naples Global Advisors LLC lifted its stake in Bar Harbor Bankshares by 2.1% during the second quarter. Naples Global Advisors LLC now owns 40,706 shares of the financial services provider’s stock worth $1,094,000 after purchasing an additional 820 shares during the period. Black Maple Capital Management LP bought a new position in shares of Bar Harbor Bankshares during the 1st quarter worth approximately $402,000. Vanguard Group Inc. boosted its stake in Bar Harbor Bankshares by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 769,738 shares of the financial services provider’s stock valued at $20,383,000 after buying an additional 11,091 shares in the last quarter. Empowered Funds LLC grew its position in Bar Harbor Bankshares by 7.8% in the first quarter. Empowered Funds LLC now owns 38,609 shares of the financial services provider’s stock valued at $1,022,000 after acquiring an additional 2,800 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in Bar Harbor Bankshares by 4.1% during the first quarter. Janney Montgomery Scott LLC now owns 22,355 shares of the financial services provider’s stock worth $592,000 after acquiring an additional 874 shares in the last quarter. 54.49% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Scott G. Toothaker bought 4,476 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average cost of $25.82 per share, with a total value of $115,570.32. Following the completion of the purchase, the director now owns 45,000 shares of the company’s stock, valued at $1,161,900. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have purchased 5,466 shares of company stock worth $140,534. Corporate insiders own 2.53% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $28.00 target price (down previously from $29.00) on shares of Bar Harbor Bankshares in a research note on Monday, April 22nd.

Bar Harbor Bankshares Price Performance

Shares of Bar Harbor Bankshares stock traded up $0.56 during trading on Monday, hitting $29.86. 22,041 shares of the company were exchanged, compared to its average volume of 38,026. The firm has a market capitalization of $454.77 million, a P/E ratio of 10.86 and a beta of 0.70. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. Bar Harbor Bankshares has a 1-year low of $23.18 and a 1-year high of $33.31.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The business had revenue of $37.39 million during the quarter, compared to analyst estimates of $36.80 million. Bar Harbor Bankshares had a net margin of 18.86% and a return on equity of 9.81%.

Bar Harbor Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.02%. Bar Harbor Bankshares’s dividend payout ratio is 43.64%.

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.