Bar Harbor Bank Shares Reports Higher Than Expected Earnings Despite Shortfall in Revenue
April 21, 2023
Trending News ☀️
Bar ($NYSEAM:BHB) Harbor BankShares (NYSE: BHB) recently reported their GAAP earnings per share (EPS) of $0.86, which was higher than the estimated amount by $0.06. Despite this higher-than-expected EPS, their total revenue of $40.09M was lower than expected by $0.21M. Bar Harbor BankShares is a publicly traded bank holding company headquartered in Bar Harbor, Maine. It operates through its subsidiary, Bar Harbor Bank & Trust, and is the largest independent banking organization in Northern New England. The company offers a wide range of banking services to individuals, businesses and non-profit organizations through its physical and virtual locations.
Share Price
On Thursday, Bar Harbor Bank Shares reported higher than expected earnings despite a slight shortfall in revenue. The company’s stock opened at $25.3 and closed at $26.1, up by 2.4% from its prior closing price of 25.5. Despite this small dip in sales, the company’s overall financial performance exceeded expectations and their stock price rose accordingly. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for BHB. More…
| Total Revenues | Net Income | Net Margin |
| – | 43.56 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for BHB. More…
| Operations | Investing | Financing |
| 57.6 | -410.58 | 194.88 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for BHB. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.91k | 3.52k | – |
Key Ratios Snapshot
Some of the financial key ratios for BHB are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.8% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
At GoodWhale, we analyze financials to help investors make the best decisions when it comes to their investments. In our analysis of BAR HARBOR BANKSHARES, we have determined that it has a high health score of 7/10 considering its cashflows and debt. This score indicates that BAR HARBOR BANKSHARES has the capacity to safely ride out any crisis, making it an attractive investment for many investors. We have classified BAR HARBOR BANKSHARES as ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. This could mean that investors who are interested in growth, dividend, and medium in terms of profitability and asset may be interested in this company. Our analysis at GoodWhale has concluded that BAR HARBOR BANKSHARES is strong in these categories. More…
Peers
The Bank operates approximately 60 branch locations throughout Maine, New Hampshire and Massachusetts. The Bank’s primary competitors are Peoples Bancorp Inc (Marietta OH), BankFinancial Corp, Peoples Bancorp Inc.
– Peoples Bancorp Inc (Marietta OH) ($NASDAQ:PEBO)
Peoples Bancorp Inc (Marietta OH) is a financial holding company that operates through its subsidiaries. The company’s subsidiaries include Peoples Bank, National Association and Peoples Insurance Agency, LLC. The company provides banking and insurance services to individuals and businesses in the United States. The company operates its branches in Ohio, West Virginia, and Kentucky.
– BankFinancial Corp ($NASDAQ:BFIN)
BankFinancial Corp is a bank holding company that operates through its subsidiary, BankFinancial, N.A. The Company provides a range of banking services to small and medium-sized businesses, and individuals. These services include checking and savings accounts, money market accounts, certificates of deposit, and loans. The Company operates in Illinois, Wisconsin, and Indiana.
– Peoples Bancorp Inc ($OTCPK:PEBC)
Peoples Bancorp Inc. is a bank holding company, which engages in the provision of banking and other financial services to individual and corporate customers. It operates through the following segments: Banking, Insurance, and Wealth Management. The Banking segment offers personal and business banking products and services. The Insurance segment provides property, casualty, life, and health insurance products. The Wealth Management segment offers investment advisory, fiduciary, and trust services. The company was founded in 1864 and is headquartered in Marietta, OH.
Summary
BAR HARBOR BANKSHARES reported earnings-per-share of $0.86, beating analyst expectations by $0.06. Revenue of $40.09 million, however, fell short of estimates by $0.21 million. This suggests that the company is making up for missed revenue through more efficient operations and cost management.
Investors will want to examine the company’s financial performance in more detail to assess the strength of its operations and whether it can accommodate further losses in revenue. Investors should also review other metrics such as cash flow, liquidity, and debt levels, to ensure that the company is well-positioned to continue providing returns to its shareholders.
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