Bar Harbor Bankshares (NYSE:BHB) saw a recent purchase of shares by company director Matthew L. Caras, according to the latest SEC filings. Caras acquired 111.571 shares of common stock at a price of $24.8 per share, totaling approximately $2,766.
The transaction, dated March 19, 2024, increased Caras's holdings to 18,172.931 shares of Bar Harbor Bankshares. The purchase reflects a direct ownership in the company's common stock, which is a routine disclosure for corporate insiders.
Investors often monitor insider transactions as they can provide insights into how the company's leadership perceives the financial health and future prospects of the business. While insider buying can be seen as a positive sign, it is just one of many factors that investors consider when evaluating their investment decisions.
Bar Harbor Bankshares, based in Maine, operates within the state commercial banks sector and has a history of serving its community's banking needs. The company's stock is listed on the New York Stock Exchange under the ticker symbol BHB.
The disclosure of this transaction provides transparency for shareholders and potential investors, ensuring that all relevant information regarding insider transactions is made available to the public.
InvestingPro Insights
Following the recent purchase of shares by director Matthew L. Caras, Bar Harbor Bankshares (NYSE:BHB) continues to draw attention from investors seeking stability and long-term growth potential. A glance at the company's financial health through InvestingPro data reveals a dividend yield of 4.59%, showcasing the company's commitment to shareholder returns. This is further bolstered by the fact that Bar Harbor Bankshares has not only maintained but also raised its dividend for 30 consecutive years, an impressive feat that underscores its financial resilience and reliability.
Despite some volatility in the stock price, with a 17.54% decline over the last three months, the company's fundamentals present a mixed picture. The P/E ratio stands at 8.54, which is relatively low, suggesting that the stock could be undervalued given its earnings. However, the PEG ratio of 3.53 indicates that the price may be high relative to near-term earnings growth expectations, a point of consideration for those looking at the stock's growth prospects.
For investors interested in further insights, there are additional InvestingPro Tips available for Bar Harbor Bankshares. These include analysts' upward revisions of earnings for the upcoming period, which could signal potential optimism about the company's performance. Additionally, the company's profitability over the last twelve months may provide some assurance to investors concerned about the recent drop in share price.
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