Bar Harbor Bankshares (NYSE:BHB) Price Target Raised to $34.00

Bar Harbor Bankshares (NYSE:BHB) had its price objective raised by Keefe, Bruyette & Woods from $33.00 to $34.00 in a report published on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Piper Sandler raised Bar Harbor Bankshares from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $34.00 to $35.00 in a report on Tuesday, August 5th. Zacks Research downgraded Bar Harbor Bankshares from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.50.

Bar Harbor Bankshares Stock Up 3.6%

Shares of Bar Harbor Bankshares stock opened at $30.98 on Thursday. The firm’s fifty day simple moving average is $30.98. Bar Harbor Bankshares has a 1 year low of $26.43 and a 1 year high of $38.47. The firm has a market cap of $516.84 million, a P/E ratio of 13.35 and a beta of 0.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Bar Harbor Bankshares by 1.7% in the first quarter. Vanguard Group Inc. now owns 807,331 shares of the company’s stock valued at $23,816,000 after acquiring an additional 13,243 shares during the last quarter. Bar Harbor Wealth Management grew its position in Bar Harbor Bankshares by 4.2% in the second quarter. Bar Harbor Wealth Management now owns 477,541 shares of the company’s stock valued at $14,307,000 after acquiring an additional 19,065 shares during the last quarter. Geode Capital Management LLC grew its position in Bar Harbor Bankshares by 5.3% in the second quarter. Geode Capital Management LLC now owns 365,258 shares of the company’s stock valued at $10,945,000 after acquiring an additional 18,306 shares during the last quarter. American Century Companies Inc. grew its position in Bar Harbor Bankshares by 4.0% in the second quarter. American Century Companies Inc. now owns 262,882 shares of the company’s stock valued at $7,876,000 after acquiring an additional 10,204 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its position in Bar Harbor Bankshares by 4.7% in the second quarter. Bridgeway Capital Management LLC now owns 105,228 shares of the company’s stock valued at $3,153,000 after acquiring an additional 4,718 shares during the last quarter. Institutional investors own 54.49% of the company’s stock.

About Bar Harbor Bankshares

Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides commercial, lending, retail, and wealth management banking services. 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.