Bar Harbor Bankshares (AMEX:BHB) Stock

Bar Harbor Bankshares

Bar Harbor Bankshares Inc is a bank holding company along with its subsidiaries that offers a full range of financial services products, brokerage services through third-party brokerage arrangements and also trust and investment management services to individuals, businesses, non-profit organizations, and municipalities. The company has following reportable segments such as Commercial construction, Commercial real estate owner occupied and non-owner occupied, Tax Exempt, Commercial and industrial loans, Residential real estate, Home equity and Consumer other. Its products and services consist of checking, deposits, cards, mobile banking, online services, loans, merchant services, trust, and fiduciary services, investment planning, education funding, individual retirement planning..

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Bar Harbor Bankshares Inc

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Keefe, Bruyette &amp; Woods analyst Damon Delmonte reiterates Bar Harbor Bankshares (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BHB#AMEX">BHB</a>) with a Market Perform and raises the price target from $34 to $35.

Price Target

Reiteration

Analyst Ratings

Keefe, Bruyette & Woods Reiterates Market Perform on Bar Harbor Bankshares, Raises Price Target to $35

Keefe, Bruyette &amp; Woods analyst Damon Delmonte maintains Bar Harbor Bankshares (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BHB#AMEX">BHB</a>) with a Market Perform and raises the price target from $30 to $34.

Keefe, Bruyette & Woods Maintains Market Perform on Bar Harbor Bankshares, Raises Price Target to $34

Bar Harbor Bankshares (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BHB#AMEX">BHB</a>) reported quarterly earnings of $0.80 per share which beat the analyst consensus estimate of $0.67 by 19.4 percent. This is a 9.59 percent increase over earnings of $0.73 per share from the same period last year. The company reported quarterly sales of $38.61 million which missed the analyst consensus estimate of $38.92 million by 0.79 percent. This is a 1.61 percent increase over sales of $38.00 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Bar Harbor Bankshares Q3 Adj $0.80 Beats $0.67 Estimate, Sales $38.61M Miss $38.92M Estimate

Piper Sandler analyst Mark Fitzgibbon assumes Bar Harbor Bankshares (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BHB#AMEX">BHB</a>) with a Neutral rating and announces Price Target of $33.

Initiation

Piper Sandler Assumes Bar Harbor Bankshares at Neutral, Announces Price Target of $33

Bar Harbor Bankshares (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BHB#AMEX">BHB</a>) reported quarterly earnings of $0.67 per share which beat the analyst consensus estimate of $0.65 by 3.08 percent. This is a 5.63 percent decrease over earnings of $0.71 per share from the same period last year. The company reported quarterly sales of $37.39 million which beat the analyst consensus estimate of $37.25 million by 0.38 percent. This is a 1.00 percent decrease over sales of $37.77 million the same period last year.

Bar Harbor Bankshares Q2 Adj $0.67 Beats $0.65 Estimate, Sales $37.39M Beat $37.25M Estimate

Although U.S. stocks closed lower on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Exelixis</h3>
<ul>
<li>The Trade: Exelixis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXEL#NASDAQ">EXEL</a>) Director Caligan Partners LP <a href="https://www.benzinga.com/quote/EXEL/analyst-ratings">acquired a total of 425,000 shares</a> at an average price of $20.55. To acquire these shares, it cost around $8.73 million.</li>
<li>What's Happening: On May 14, Stephens &amp; Co. analyst Sudan Loganathan initiated coverage on Exelixis with an Equal-Weight rating and announced a price target of $23.</li>
<li>What Exelixis Does: Exelixis is a biopharmaceutical firm that discovers, develops, and commercializes treatments for cancer.</li>
</ul>
<h3 class="wp-block-heading">Caesars Entertainment</h3>
<ul>
<li>The Trade: Caesars Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) Director Michael E Pegram acquired a total of 10,000 shares at an average price of $31.96. To acquire these shares, it cost around $319,600.</li>
<li>What's Happening: On May 21, Raymond James analyst RJ Milligan initiated coverage on Caesars Entertainment with a Strong Buy rating and announced a price target of $55.</li>
<li>What Caesars Entertainment Does: Caesars Entertainment includes about 50 domestic gaming properties across Las Vegas (49% of 2023 EBITDAR before corporate expenses) and regional (48%) markets.</li>
</ul>
Don&#8217;t forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<h3 class="wp-block-heading">PCB Bancorp</h3>
<ul>
<li>The Trade: PCB Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCB#NASDAQ">PCB</a>) Director Sang Young Lee <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 14,000 shares</a> at an average price of $14.97. To acquire these shares, it cost around $209,541.</li>
<li>What's Happening: On April 25, PCB Bancorp posted downbeat quarterly earnings.</li>
<li>What PCB Bancorp Does: PCB Bancorp is a bank holding company, which engages in the provision of consumer and commercial banking services.</li>
</ul>
<h3 class="wp-block-heading">Bar Harbor Bankshares</h3>
<ul>
<li>The Trade: Bar Harbor Bankshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHB#NYSE">BHB</a>) Director Scott G Toothaker <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 4,476 shares</a> at an average price of $25.82. The insider spent around $115,570 to buy those shares.</li>
<li>What's Happening: On April 18, Bar Harbor Bankshares posted upbeat quarterly earnings.</li>
<li>What Bar Harbor Bankshares Does: Bar Harbor Bankshares Inc is a bank holding company along with its subsidiaries that offers a full range of financial services products, brokerage services through third-party brokerage arrangements and also trust and investment management services to individuals, businesses, non-profit organizations, and municipalities.</li>
</ul>
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Keefe, Bruyette &amp; Woods analyst Damon Delmonte reiterates Bar Harbor Bankshares (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BHB#AMEX">BHB</a>) with a Market Perform and lowers the price target from $29 to $28.

Keefe, Bruyette & Woods Reiterates Market Perform on Bar Harbor Bankshares, Lowers Price Target to $28

U.S. stocks were mixed, with the Nasdaq Composite falling over 100 points on Friday.
Shares of Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) rose during Friday's session after the company reported better-than-expected <a href="https://www.benzinga.com/quote/FITB/earnings">quarterly financial results</a>.
Fifth Third Bancorp posted adjusted earnings of 76 cents per share, beating market estimates of 70 cents per share. The company's sales came in at $2.100 billion versus expectations of $2.086 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Fifth Third Bancorp shares gained 4.2% to $35.67 on Friday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Mobile-health Network Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDR#NASDAQ">MNDR</a>) shares jumped 20.2% to $24.53.</li>
<li>Metropolitan Bank Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) rose 19% to $39.40 after the company reported better-than-expected first-quarter financial results.</li>
<li>Humacyte, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUMA#NASDAQ">HUMA</a>) climbed 12.2% to $4.03.</li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) shares rose 9.7% to $12.03 following reports suggesting Sony is in talks with Apollo to join a bid for the company.</li>
<li>Cohen &amp; Steers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNS#NYSE">CNS</a>) gained 8.1% to $71.48 after it was announced the stock will join the S&amp;P SmallCap 600.</li>
<li>Tellurian Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NYSE">TELL</a>) shares jumped 7.8% to $0.4172.</li>
<li>Alvotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALVO#NASDAQ">ALVO</a>) gained 6.6% to $13.75. Alvotech inked a long-term agreement with a strategic partner to further enhance access to Adalimumab-ryvk in the US market.</li>
<li>Bar Harbor Bankshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHB#NYSE">BHB</a>) climbed 5.6% to $25.20 following upbeat quarterly earnings.</li>
<li>Nuvation Bio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUVB#NYSE">NUVB</a>) rose 5.2% to $2.7150.</li>
<li>AMC Entertainment Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) shares rose 4.8% to $3.0589. Wedbush, on Thursday, slashed its price target on the stock to $4 on Thursday.</li>
<li>Community Health Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) gained 4.7% to $2.9099. Community Health Systems announced an agreement to sell Cleveland, Tennessee, Hospital to Hamilton Health Care System for $160 million in cash.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/24/04/38334217/netflix-to-rally-around-31-here-are-10-top-analyst-forecasts-for-friday">Netflix To Rally Around 31%? Here Are 10 Top Analyst Forecasts For Friday</a>

DIVIDEND DECLARED AND STOCK REPURCHASE PLAN APPROVED
The Board of Directors of the Company (the "Board") voted to declare a cash dividend of $0.30 per share to shareholders at the close of business on May 16, 2024 payable on June 14, 2024. This dividend equates to a 4.53% annualized yield based on the $26.48 closing share price of the Company's common stock on March 28, 2024, the last trading day of the first quarter 2024. Additionally, the Board authorized the repurchase of up to 5% of the Company's outstanding common stock, representing approximately 761,000 shares as of March 31, 2024 under a share repurchase plan (the "Plan"). The Plan is authorized to last no longer than twelve months.

Buybacks

Bar Harbor Bankshares Announces A Stock Repurchase Program Of Up To 5% Of The Co's Outstanding Common Stock, Representing ~761,000 Shares As Of March 31, 2024

Dividends

Bar Harbor Bankshares Increases Quarterly Cash Dividend From $0.28 To $0.30 Per Share

Bar Harbor Bankshares (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BHB#AMEX">BHB</a>) reported quarterly earnings of $0.66 per share which beat the analyst consensus estimate of $0.64 by 3.13 percent. This is a 23.26 percent decrease over earnings of $0.86 per share from the same period last year. The company reported quarterly sales of $36.64 million which missed the analyst consensus estimate of $37.38 million by 1.98 percent. This is a 8.60 percent decrease over sales of $40.09 million the same period last year.

Bar Harbor Bankshares Q1 Adj $0.66 Beats $0.64 Estimate, Sales $36.64M Miss $37.38M Estimate

Bar Harbor Bankshares (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BHB#AMEX">BHB</a>) reported quarterly earnings of $0.68 per share which beat the analyst consensus estimate of $0.67 by 1.49 percent. This is a 18.07 percent decrease over earnings of $0.83 per share from the same period last year. The company reported quarterly sales of $37.64 million which beat the analyst consensus estimate of $37.46 million by 0.49 percent. This is a 8.59 percent decrease over sales of $41.18 million the same period last year.

Bar Harbor Bankshares Q4 EPS $0.68 Beats $0.67 Estimate, Sales $37.64M Beat $37.46M Estimate

Bar Harbor Bankshares (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BHB#AMEX">BHB</a>) reported quarterly adj earnings of $0.73 per share which beat the analyst consensus estimate of $0.67 by 8.96 percent. This is a 3.95 percent decrease over earnings of $0.76 per share from the same period last year. The company reported quarterly sales of $38.00 million which beat the analyst consensus estimate of $37.42 million by 1.55 percent. This is a 1.89 percent decrease over sales of $38.73 million the same period last year.

Bar Harbor Bankshares Q3 Adj EPS $0.73 Beats $0.67 Estimate, Sales $38.00M Beat $37.42M Estimate

SEI to Power Continued Business Transformation for Community Bank
OAKS, Pa.,&nbsp;Aug. 17, 2023&nbsp;/PRNewswire/ --&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3946040-1&amp;h=1284226147&amp;u=https%3A%2F%2Fwww.seic.com%2F&amp;a=SEI" target="_blank">SEI</a>&reg;&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEIC#NASDAQ">SEIC</a>) today announced that it has extended its strategic partnership with Bar Harbor Bank &amp; Trust, an independent community banking organization, through&nbsp;March 2028. The agreement demonstrates a mutual commitment to the companies&#39; 22-year relationship, specifically supporting Bar Harbor Wealth Management&#39;s growth and expanded&nbsp;offering to their clients through the SEI Wealth PlatformSM&nbsp;and business process outsourcing solution.
Sanjay Sharma, Head of SEI&#39;s Private Banking and Wealth Management business, said:
&quot;As the wealth management industry continues to grow and change, an organization&#39;s technology infrastructure and operational strength is critical to helping them revolutionize how they manage and grow, embrace change and solve problems with confidence, and protect the next generation of their business and clients.
&quot;Our longstanding strategic partnership evolved from delivering a technology-only solution to Charter Trust to supporting the trust and wealth management consolidation into Bar Harbor Wealth Management. By their side throughout this evolution, we helped them to increase operational efficiency by moving from multiple legacy platforms to a single, unified infrastructure&nbsp;to help drive their strategic business growth objectives. We look forward to building upon our relationship as we work together to power the future of wealth.&quot;
Jason Edgar, President of Bar Harbor Wealth Management, said:
&quot;Through the rapid transformation of our business, SEI has been a strategic partner in helping us meet our mission of delivering consistent service to clients. We are pleased to extend our strategic partnership as we continue to meet our clients&#39; wealth management needs through our full suite of solutions.&quot;&nbsp;

SEIC

SEI Extends Long-term Relationship With Bar Harbor Wealth Management; SEI To Power Continued Business Transformation For Community Bank

Bar Harbor Bankshares (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BHB#AMEX">BHB</a>) reported quarterly earnings of $0.71 per share which beat the analyst consensus estimate of $0.68 by 4.41 percent. This is a 1.43 percent increase over earnings of $0.70 per share from the same period last year. The company reported quarterly sales of $37.77 million which beat the analyst consensus estimate of $37.51 million by 0.69 percent. This is a 6.45 percent increase over sales of $35.48 million the same period last year.

Bar Harbor Bankshares Q2 EPS $0.71 Beats $0.68 Estimate, Sales $37.77M Beat $37.51M Estimate

Bar Harbor Bankshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHB#NYSE">BHB</a>, the ", Company", )))) announced that its Board of Directors authorized the repurchase of up to 756,000 shares of its outstanding common stock, representing approximately 5% of its shares as of April 30, 2023 under a share repurchase plan (the "Plan"). The Plan is authorized to last no longer than 12 months.
Share repurchases, if any, will be made from time to time in the open market, through block trades, or otherwise, in private negotiated transactions. The timing and amount of any share repurchases will depend on a variety of factors, including but not limited to, among others, securities law restrictions (including limitations provided in Rules 10b-18 and 10b5-1 under the Securities Exchange Act of 1934, as amended), the trading price of the Company's common stock, other regulatory requirements, potential alternative uses for capital, and the Company's financial performance. The Plan does not require the Company to acquire any particular dollar amount or number of shares of common stock, and it may be modified or suspended at any time at the Company's discretion.

Bar Harbor Bankshares Announces Stock Repurchase Plan Of Up To 756,000 Shares Of Its Outstanding Common Stock; The Plan Is Authorized To Last No Longer Than 12 Months

Keefe, Bruyette &amp; Woods analyst Damon Delmonte maintains Bar Harbor Bankshares (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BHB#AMEX">BHB</a>) with a Market Perform and lowers the price target from $29 to $27.

Keefe, Bruyette & Woods Maintains Market Perform on Bar Harbor Bankshares, Lowers Price Target to $27

Bar Harbor Bankshares (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BHB#AMEX">BHB</a>) reported its Q1 earnings results on Thursday, April 20, 2023 at 04:15 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Bar Harbor Bankshares beat estimated earnings by 7.5%, reporting an EPS of $0.86 versus an estimate of $0.8.
Revenue was up $6.48 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.01 which was followed by a 2.56% increase in the share price the next day.
Here's a look at Bar Harbor Bankshares's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
<th>Q2 2022</th>
<th>Q1 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.82</td>
<td>0.75</td>
<td>0.69</td>
<td>0.66</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.83</td>
<td>0.76</td>
<td>0.70</td>
<td>0.62</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>40.50M</td>
<td>36.95M</td>
<td>35.54M</td>
<td>34.46M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>41.18M</td>
<td>38.73M</td>
<td>35.48M</td>
<td>33.61M</td>
</tr>
</tbody>
</table>

 Listen to the earnings announcement yourself by <a href="">clicking here</a>. 
To track all earnings releases for Bar Harbor Bankshares <a href="https://www.benzinga.com/quote/BHB/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Bar Harbor Bankshares: Q1 Earnings Insights

Bar Harbor Bankshares (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BHB#AMEX">BHB</a>) reported quarterly earnings of $0.86 per share which beat the analyst consensus estimate of $0.82 by 4.88 percent. This is a 38.71 percent increase over earnings of $0.62 per share from the same period last year. The company reported quarterly sales of $40.09 million which missed the analyst consensus estimate of $40.79 million by 1.72 percent. This is a 19.29 percent increase over sales of $33.61 million the same period last year.

Bar Harbor Bankshares Q1 EPS $0.86 Beats $0.82 Estimate, Sales $40.09M Miss $40.79M Estimate

Bar Harbor Bankshares (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BHB#AMEX">BHB</a>) reported quarterly earnings of $0.83 per share which beat the analyst consensus estimate of $0.82 by 1.22 percent. This is a 22.06 percent increase over earnings of $0.68 per share from the same period last year. The company reported quarterly sales of $41.18 million which beat the analyst consensus estimate of $40.50 million by 1.68 percent. This is a 17.75 percent increase over sales of $34.97 million the same period last year.

Bar Harbor Bankshares Q4 Adj. EPS $0.83 Beats $0.82 Estimate, Sales $41.18M Beat $40.50M Estimate

Press Releases

Bar Harbor Bankshares Reports First Quarter 2024 Results; Declares Increased Dividend; Announces Share Repurchase Plan

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