Teacher Retirement System of Texas Invests $297,000 in Bar Harbor Bankshares $BHB

Teacher Retirement System of Texas purchased a new position in Bar Harbor Bankshares (NYSE:BHB) during the 2nd quarter, HoldingsChannel reports. The firm purchased 9,903 shares of the company’s stock, valued at approximately $297,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Moors & Cabot Inc. lifted its stake in Bar Harbor Bankshares by 321.8% in the first quarter. Moors & Cabot Inc. now owns 29,315 shares of the company’s stock valued at $865,000 after buying an additional 22,365 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Bar Harbor Bankshares during the first quarter worth about $214,000. Vanguard Group Inc. increased its holdings in shares of Bar Harbor Bankshares by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 807,331 shares of the company’s stock worth $23,816,000 after acquiring an additional 13,243 shares during the period. Trust Co. of Vermont lifted its position in Bar Harbor Bankshares by 67.7% in the 2nd quarter. Trust Co. of Vermont now owns 73,332 shares of the company’s stock valued at $2,197,000 after purchasing an additional 29,606 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Bar Harbor Bankshares during the 1st quarter valued at about $1,464,000. 54.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BHB shares. Keefe, Bruyette & Woods raised their price target on shares of Bar Harbor Bankshares from $33.00 to $34.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Zacks Research lowered Bar Harbor Bankshares from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Piper Sandler upgraded Bar Harbor Bankshares from a “neutral” rating to an “overweight” rating and raised their target price for the company from $34.00 to $35.00 in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Bar Harbor Bankshares presently has an average rating of “Hold” and a consensus target price of $34.50.

Bar Harbor Bankshares Price Performance

BHB stock opened at $29.94 on Wednesday. The stock’s 50-day moving average is $30.49. The company has a market cap of $499.49 million, a P/E ratio of 12.91 and a beta of 0.71. Bar Harbor Bankshares has a 52 week low of $26.43 and a 52 week high of $37.60.

Bar Harbor Bankshares Company Profile

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.