AMEX:BHB

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Bar Harbor Bankshares

Executive Summary

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


Snowflake Analysis

Flawless balance sheet average dividend payer.


Similar Companies

Share Price & News

How has Bar Harbor Bankshares's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BHB's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-17.5%

BHB

0.8%

US Banks

4.0%

US Market


1 Year Return

-22.5%

BHB

-28.2%

US Banks

4.9%

US Market

Return vs Industry: BHB exceeded the US Banks industry which returned -28.2% over the past year.

Return vs Market: BHB underperformed the US Market which returned 5% over the past year.


Shareholder returns

BHBIndustryMarket
7 Day-17.5%0.8%4.0%
30 Day-0.6%-12.3%1.3%
90 Day39.1%15.3%29.5%
1 Year-19.2%-22.5%-25.7%-28.2%7.2%4.9%
3 Year-26.2%-33.2%-18.1%-24.7%36.1%27.2%
5 Year-0.9%-15.5%8.8%-4.4%65.3%46.9%

Price Volatility Vs. Market

How volatile is Bar Harbor Bankshares's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Bar Harbor Bankshares undervalued compared to its fair value and its price relative to the market?

13.69x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BHB ($20.3) is trading above our estimate of fair value ($17.46)

Significantly Below Fair Value: BHB is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BHB is poor value based on its PE Ratio (13.7x) compared to the Banks industry average (9.4x).

PE vs Market: BHB is good value based on its PE Ratio (13.7x) compared to the US market (16.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BHB's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BHB is good value based on its PB Ratio (0.8x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

How is Bar Harbor Bankshares forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

21.1%

Forecasted Banks industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Bar Harbor Bankshares has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Bar Harbor Bankshares performed over the past 5 years?

16.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BHB has high quality earnings.

Growing Profit Margin: BHB's current net profit margins (19.1%) are lower than last year (28.1%).


Past Earnings Growth Analysis

Earnings Trend: BHB's earnings have grown by 16.2% per year over the past 5 years.

Accelerating Growth: BHB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BHB had negative earnings growth (-28.8%) over the past year, making it difficult to compare to the Banks industry average (1.8%).


Return on Equity

High ROE: BHB's Return on Equity (5.7%) is considered low.


Next Steps

Financial Health

How is Bar Harbor Bankshares's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: BHB's Assets to Equity ratio (9.1x) is low.

Allowance for Bad Loans: BHB has a sufficient allowance for bad loans (152%).

Low Risk Liabilities: 81% of BHB's liabilities are made up of primarily low risk sources of funding.

Loan Level: BHB has an appropriate level of Loans to Assets ratio (71%).

Low Risk Deposits: BHB's Loans to Deposits ratio (99%) is appropriate.

Level of Bad Loans: BHB has an appropriate level of bad loans (0.4%).


Next Steps

Dividend

What is Bar Harbor Bankshares's current dividend yield, its reliability and sustainability?

4.33%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BHB's dividend (4.33%) is higher than the bottom 25% of dividend payers in the US market (1.67%).

High Dividend: BHB's dividend (4.33%) is low compared to the top 25% of dividend payers in the US market (4.5%).


Stability and Growth of Payments

Stable Dividend: BHB's dividends per share have been stable in the past 10 years.

Growing Dividend: BHB's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (59.3%), BHB's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.1yrs

Average management tenure


CEO

Curtis Simard (49yo)

6.92yrs

Tenure

US$1,336,173

Compensation

Mr. Curtis C. Simard has been the Chief Executive Officer and President of Bar Harbor Bankshares since August 9, 2013 and its subsidiary Bar Harbor Bank & Trust Company since June 17, 2013. Mr. Simard serv ...


CEO Compensation Analysis

Compensation vs Market: Curtis's total compensation ($USD1.34M) is below average for companies of similar size in the US market ($USD2.15M).

Compensation vs Earnings: Curtis's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Curtis Simard
President6.92yrsUS$1.34m0.28% $887.3k
Josephine Iannelli
Executive VP3.75yrsUS$778.22k0.069% $216.5k
Richard Maltz
Executive VP3.83yrsUS$780.38k0.11% $332.4k
John Mercier
Executive VP & Chief Lending Officer1.75yrsUS$536.03k0.029% $91.2k
Marion Colombo
Executive VP & Director of Retail Delivery2.42yrsUS$555.33k0.026% $82.8k
Joshua Radel
Chief Investment Officer3.92yrsno datano data
Jennifer Svenson
Senior VP and Chief HR Officer1.08yrsno datano data
William Schaefer
Senior Vice President of Financeno datano datano data
Joseph Pratt
Senior Vice Presidentno datano data0.025% $78.1k
Sonya Mitchell
Senior VP & MD0.50yrno datano data

3.1yrs

Average Tenure

54.5yo

Average Age

Experienced Management: BHB's management team is considered experienced (3.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Curtis Simard
President6.92yrsUS$1.34m0.28% $887.3k
Matthew Caras
Independent Director6.17yrsUS$70.29k0.079% $248.9k
Martha Dudman
Independent Director17.17yrsUS$65.49k0.10% $317.6k
Scott Toothaker
Independent Director17.17yrsUS$69.29k0.23% $723.8k
David Woodside
Independent Chairman of the Board4.17yrsUS$87.29k0.096% $302.1k
Daina Belair
Independent Director5.17yrsUS$61.99k0.029% $90.1k
Kenneth Smith
Independent Director16.17yrsUS$72.99k0.098% $307.6k
Lauri Fernald
Independent Director15.08yrsUS$69.49k0.071% $223.9k
David Colter
Independent Director4.17yrsUS$56.49k0.029% $92.6k
Steven H. Dimick
Independent Director3.5yrsUS$55.19k0.046% $144.9k

6.6yrs

Average Tenure

64.5yo

Average Age

Experienced Board: BHB's board of directors are considered experienced (6.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: BHB insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Bar Harbor Bankshares's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Bar Harbor Bankshares
  • Ticker: BHB
  • Exchange: AMEX
  • Founded: 1887
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$315.333m
  • Shares outstanding: 15.53m
  • Website: https://www.barharbor.bank

Number of Employees


Location

  • Bar Harbor Bankshares
  • 82 Main Street
  • PO Box 400
  • Bar Harbor
  • Maine
  • 04609-0400
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BHBAMEX (NYSE MKT LLC)YesCommon StockUSUSDJun 1995

Biography

Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides commercial, retail, and wealth management banking services. It accepts various deposit products, including interest-bearing and non-interest-bearing demand accounts, savings and checking accounts, time deposits, and money market deposit accounts, as well as certificates of deposit. The company also provides commercial real estate loans, such as multi-family, commercial construction and land development, and other commercial real estate classes; commercial and industrial loans, including loans to commercial and agricultural businesses, and tax exempt entities; residential real estate loans consist of mortgages for 1-to-4 family housing; and consumer loans comprises home equity loans, lines of credit, auto, and other installment lending. In addition, it provides life insurance, annuity, and retirement products, as well as financial planning services; and third-party investment and insurance services. Further, the company offers trust and estate administration, wealth advisory, and investment management services to individuals, businesses, not-for-profit organizations, and municipalities; and trust services, such as custody, estate settlement, and fiduciary tax services. Additionally, it provides trust management services include trustee of both living trusts and trusts under wills, such as revocable, irrevocable, charitable remainder, and testamentary trusts, as well as holds accounts for and manages financial, real estate, and special assets. As of April 23, 2020, the company operated approximately 50 locations across Maine, New Hampshire, and Vermont. Bar Harbor Bankshares was founded in 1887 and is based in Bar Harbor, Maine. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/04 23:57
End of Day Share Price2020/07/02 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.