Bar Harbor Bankshares (BHB)


Market Price (10/29/2026): $40.55 | Market Cap: $679.9 MilSector: Financials | Industry: Regional Banks

Bar Harbor Bankshares (BHB)


Market Price (10/29/2026): $40.55
Market Cap: $679.9 Mil
Sector: Financials
Industry: Regional Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 10%, Dividend Yield is 3.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.9%, FCF Yield is 8.4%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -38%

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 31%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 30%

Low stock price volatility
Vol 12M is 23%

Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Digital Payments, and Online Banking & Lending.

Trading close to highs
Dist 52W High is -0.8%, Dist 3Y High is -0.8%

Weak multi-year price returns
2Y Excs Rtn is -0.9%

Key risks
BHB key risks include [1] narrowing profit margins and slower revenue growth, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 10%, Dividend Yield is 3.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.9%, FCF Yield is 8.4%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -38%
2 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 31%
3 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 30%
4 Low stock price volatility
Vol 12M is 23%
5 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Digital Payments, and Online Banking & Lending.
6 Trading close to highs
Dist 52W High is -0.8%, Dist 3Y High is -0.8%
7 Weak multi-year price returns
2Y Excs Rtn is -0.9%
8 Key risks
BHB key risks include [1] narrowing profit margins and slower revenue growth, Show more.

BHB in ETFs

Weight = BHB's share of each fund

VTI0.00%
ITOT0.00%
IWM0.02%
KRE0.13%
IWN0.05%
AVUV0.03%
VTWO0.02%
DFAS0.02%
+2 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/26/2026

Bar Harbor Bankshares (BHB) stock has gained about 10% since 6/30/2026 because of the following key factors:

1. Bar Harbor Bankshares (BHB) reported strong financial results for fiscal Q3 2026, significantly exceeding analyst expectations. The company announced core earnings of $1.04 per diluted share, surpassing the Zacks Consensus Estimate of $0.93 per share by 11.83%. Additionally, BHB's revenue for the quarter ended September 30, 2026, reached $51.56 million, exceeding the consensus estimate by 3.36%. This marked the third time in the last four quarters that the company topped consensus EPS estimates.

2. The company demonstrated significant Net Interest Margin (NIM) expansion, defying broader banking sector trends. Bar Harbor Bankshares' net interest margin increased to 3.77% in fiscal Q3 2026, up from 3.61% in the prior quarter and 3.56% in fiscal Q3 2025. This expansion was primarily driven by higher yields on earning assets and a reduction in interest-bearing deposit costs, contributing to increased profitability.

Show more
Updated on 10/26/2026

Bar Harbor Bankshares (BHB) stock has gained about 10% since 6/30/2026 because of the following key factors:

1. Bar Harbor Bankshares (BHB) reported strong financial results for fiscal Q3 2026, significantly exceeding analyst expectations. The company announced core earnings of $1.04 per diluted share, surpassing the Zacks Consensus Estimate of $0.93 per share by 11.83%. Additionally, BHB's revenue for the quarter ended September 30, 2026, reached $51.56 million, exceeding the consensus estimate by 3.36%. This marked the third time in the last four quarters that the company topped consensus EPS estimates.

2. The company demonstrated significant Net Interest Margin (NIM) expansion, defying broader banking sector trends. Bar Harbor Bankshares' net interest margin increased to 3.77% in fiscal Q3 2026, up from 3.61% in the prior quarter and 3.56% in fiscal Q3 2025. This expansion was primarily driven by higher yields on earning assets and a reduction in interest-bearing deposit costs, contributing to increased profitability.

3. BHB experienced robust deposit growth and a notable reduction in higher-cost borrowings. Total deposits grew by $84.0 million to $3.9 billion at the end of fiscal Q3 2026, representing a 9% annualized growth, largely due to increases in interest-bearing and non-interest-bearing demand deposits. Concurrently, total borrowings decreased by $123.7 million to $157.4 million, reflecting a decreased reliance on more expensive wholesale funding sources.

4. The bank maintained strong asset quality and improved its operational efficiency. Bar Harbor Bankshares continued to exhibit high asset quality with low credit stress, indicated by net charge-offs of $303,000 for fiscal Q3 2026, a decrease from $316,000 in the same period last year. The company's efficiency ratio, a measure of operational cost control, improved to 55.26% in fiscal Q3 2026 from 55.76% in fiscal Q2 2026, outperforming industry averages.

5. Positive analyst sentiment and increased price targets followed the strong fiscal Q3 performance. Following the earnings release, several analysts reacted positively. For instance, Piper Sandler raised its price target for BHB to $44.00 from $41.00 while maintaining an "overweight" rating. Zacks Research also upgraded Bar Harbor Bankshares from a "strong sell" to a "hold" rating, reflecting improved outlook for the company.

Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →

Stock Movement Drivers

Fundamental Drivers

The 8.4% change in BHB stock from 6/30/2026 to 10/28/2026 was primarily driven by a 13.1% change in the company's Net Income Margin (%).
(LTM values as of)630202610282026Change
Stock Price ($)37.4340.578.4%
Change Contribution By: 
Total Revenues ($ Mil)1781938.5%
Net Income Margin (%)22.6%25.5%13.1%
P/E Multiple15.613.8-11.5%
Shares Outstanding (Mil)1717-0.1%
Cumulative Contribution8.4%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/28/2026
ReturnCorrelation
BHB8.4% 
Market (SPY)3.4%11.3%
Sector (XLF)4.7%38.7%

Fundamental Drivers

The 27.4% change in BHB stock from 3/31/2026 to 10/28/2026 was primarily driven by a 16.4% change in the company's Net Income Margin (%).
(LTM values as of)331202610282026Change
Stock Price ($)31.8540.5727.4%
Change Contribution By: 
Total Revenues ($ Mil)16819314.9%
Net Income Margin (%)21.9%25.5%16.4%
P/E Multiple14.413.8-4.5%
Shares Outstanding (Mil)1717-0.3%
Cumulative Contribution27.4%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/28/2026
ReturnCorrelation
BHB27.4% 
Market (SPY)19.1%5.3%
Sector (XLF)14.1%40.1%

Fundamental Drivers

The 38.5% change in BHB stock from 9/30/2025 to 10/28/2026 was primarily driven by a 30.9% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202510282026Change
Stock Price ($)29.3040.5738.5%
Change Contribution By: 
Total Revenues ($ Mil)14819330.9%
Net Income Margin (%)26.7%25.5%-4.5%
P/E Multiple11.413.821.1%
Shares Outstanding (Mil)1517-8.5%
Cumulative Contribution38.5%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/28/2026
ReturnCorrelation
BHB38.5% 
Market (SPY)16.9%20.3%
Sector (XLF)5.5%49.6%

Fundamental Drivers

The 93.7% change in BHB stock from 9/30/2023 to 10/28/2026 was primarily driven by a 107.2% change in the company's P/E Multiple.
(LTM values as of)930202310282026Change
Stock Price ($)20.9540.5793.7%
Change Contribution By: 
Total Revenues ($ Mil)15719323.1%
Net Income Margin (%)30.4%25.5%-16.0%
P/E Multiple6.613.8107.2%
Shares Outstanding (Mil)1517-9.6%
Cumulative Contribution93.7%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/28/2026
ReturnCorrelation
BHB93.7% 
Market (SPY)86.9%37.0%
Sector (XLF)76.6%56.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
BHB Return32%15%-4%9%6%35%124%
Peers Return25%-3%-11%17%4%24%64%
S&P 500 Return27%-19%24%23%16%13%106%

Monthly Win Rates [3]
BHB Win Rate58%50%42%58%58%70% 
Peers Win Rate63%43%40%52%53%62% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
BHB Max Drawdown-19%-22%-32%-20%-17%-12% 
Peers Max Drawdown-21%-19%-39%-22%-23%-14% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: CAC, EBC, INDB, NBTB, CBU.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/28/2026 (YTD)

How Low Can It Go

EventBHBS&P 500
2025 US Tariff Shock
  % Loss-17.4%-18.8%
  % Gain to Breakeven21.1%23.1%
  Time to Breakeven154 days79 days
2023 SVB Regional Banking Crisis
  % Loss-30.2%-6.7%
  % Gain to Breakeven43.3%7.1%
  Time to Breakeven439 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-15.1%-24.5%
  % Gain to Breakeven17.8%32.4%
  Time to Breakeven41 days427 days
2020 COVID-19 Crash
  % Loss-39.1%-33.7%
  % Gain to Breakeven64.2%50.9%
  Time to Breakeven69 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-21.6%-19.2%
  % Gain to Breakeven27.6%23.8%
  Time to Breakeven788 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-10.6%-12.2%
  % Gain to Breakeven11.8%13.9%
  Time to Breakeven21 days62 days

Compare to CAC, EBC, INDB, NBTB, CBU

In The Past

Bar Harbor Bankshares's stock fell -17.4% during the 2025 US Tariff Shock. Such a loss loss requires a 21.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventBHBS&P 500
2023 SVB Regional Banking Crisis
  % Loss-30.2%-6.7%
  % Gain to Breakeven43.3%7.1%
  Time to Breakeven439 days31 days
2020 COVID-19 Crash
  % Loss-39.1%-33.7%
  % Gain to Breakeven64.2%50.9%
  Time to Breakeven69 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-21.6%-19.2%
  % Gain to Breakeven27.6%23.8%
  Time to Breakeven788 days105 days
2008-2009 Global Financial Crisis
  % Loss-39.8%-53.4%
  % Gain to Breakeven66.1%114.4%
  Time to Breakeven109 days1085 days

Compare to CAC, EBC, INDB, NBTB, CBU

In The Past

Bar Harbor Bankshares's stock fell -17.4% during the 2025 US Tariff Shock. Such a loss loss requires a 21.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Bar Harbor Bankshares (BHB)

Bar Harbor Bankshares (BHB) is a bank holding company that operates Bar Harbor Bank & Trust, providing a comprehensive range of commercial, lending, retail, and wealth management banking services. Founded in 1887 and headquartered in Bar Harbor, Maine, the company maintains 53 branch locations across Maine, New Hampshire, and Vermont, serving individuals, businesses, not-for-profit organizations, and municipalities in these regional markets.

The company's core offerings include various deposit products such as checking, savings, money market accounts, and certificates of deposit. On the lending front, BHB provides a diverse portfolio of loans, including commercial real estate loans (e.g., multi-family, construction, land development), commercial and industrial loans for businesses and agricultural entities, residential mortgages for 1-4 family homes, and consumer loans like home equity, auto, and other installment financing.

Beyond traditional banking, Bar Harbor Bankshares also specializes in extensive wealth management services. These services include trust and estate administration, wealth advisory, and investment management, alongside 401K plans and financial, estate, and charitable planning. Additionally, the company offers life insurance, annuity, and retirement products, as well as third-party investment and insurance services, positioning itself as a full-service financial partner in its operating regions.

AI Analysis | Feedback

It's like a regional version of Bank of America for customers in Maine, New Hampshire, and Vermont.

AI Analysis | Feedback

  • Deposit Accounts: Provides a range of deposit products including checking, savings, money market accounts, and certificates of deposit for individuals and businesses.
  • Lending Services: Offers various loan types such as commercial real estate, commercial and industrial, residential mortgages, and consumer loans (e.g., home equity, auto).
  • Wealth Management & Advisory Services: Delivers financial planning, investment management, trust and estate administration, and insurance products to diverse clients.

AI Analysis | Feedback

Major Customers of Bar Harbor Bankshares (BHB)

Bar Harbor Bankshares (BHB), as a diversified financial institution, serves a broad base of customers rather than relying on a few major corporate clients. Its customer base can be categorized as follows:

  • Individual Customers: This category includes individuals utilizing retail banking services such as checking and savings accounts, residential real estate loans (mortgages for 1-4 family housing), consumer loans (home equity, lines of credit, auto, and other installment lending), life insurance, annuity, and retirement products, as well as financial planning, trust and estate administration, and wealth management services.
  • Commercial and Agricultural Business Customers: This comprises commercial and agricultural businesses that utilize commercial real estate loans (including multi-family, commercial construction and land development), commercial and industrial loans, deposit accounts, and business-focused wealth management and retirement planning services (e.g., 401K plans).
  • Not-for-profit Organizations and Municipalities: These entities are customers for services such as commercial and industrial loans, deposit accounts, trust and estate administration, wealth advisory, investment management, and specialized municipal services.

AI Analysis | Feedback

Fiserv, Inc. (FI)

AI Analysis | Feedback

```html

Curtis C. Simard President and Chief Executive Officer

Curtis C. Simard has served as President and Chief Executive Officer of Bar Harbor Bankshares and its subsidiary Bar Harbor Bank & Trust since August 2013. Prior to joining Bar Harbor Bankshares, he was Senior Vice President and Managing Director of Corporate Banking for TD Bank from 2002 to 2013. He also held various roles at First New Hampshire Bank/Citizens Bank from 1992 to 2002. Mr. Simard is also a director of the company since 2013 and has served as Chairman of the Maine Bankers Association.

Josephine Iannelli Executive Vice President, Chief Financial Officer and Treasurer

Josephine Iannelli joined Bar Harbor Bankshares in December 2016 as Executive Vice President, Chief Financial Officer, and Treasurer. Before this role, she served as Senior Executive Vice President, CFO, and Treasurer of Berkshire Hills Bancorp. Her career includes experience at KPMG, various regional financial institutions, and owning her own consulting company, providing expertise in areas such as financial planning & analytics, treasury, investor relations, and M&A.

Jason P. Edgar President, Bar Harbor Wealth Management

Jason P. Edgar became President of Bar Harbor Wealth Management in May 2022, following the merger of Bar Harbor Trust Services and Charter Trust Company, where he had served as President since joining Bar Harbor Bankshares in 2019. He brings over 20 years of experience in wealth management, including senior leadership positions at Berkshire Hills Bancorp and Enterprise Bank.

John M. Mercier Executive Vice President and Chief Lending Officer

John M. Mercier serves as the Executive Vice President and Chief Lending Officer for Bar Harbor Bank & Trust.

Joseph Schmitt Senior Vice President, Chief Marketing Officer

Joseph Schmitt joined Bar Harbor Bankshares in September 2017 as Senior Vice President, Chief Marketing Officer. He has over 25 years of experience in marketing and product management, with previous roles including Head of Product Marketing at Santander and Chief Marketing Officer at Brookline Bank. He also worked at BankBoston.

```

AI Analysis | Feedback

The key risks to Bar Harbor Bankshares (BHB) include:
  1. Credit Risk and Regional Economic Downturns: As a commercial, lending, retail, and wealth management bank with a significant portfolio of commercial real estate, commercial and industrial, residential real estate, and consumer loans, Bar Harbor Bankshares is highly susceptible to credit risk. A severe economic downturn or adverse business conditions in its primary operating regions of Maine, New Hampshire, and Vermont could lead to increased loan defaults, higher loan loss provisions, and a deterioration in asset quality, significantly impacting the bank's profitability and financial health.
  2. Interest Rate Risk: Bar Harbor Bankshares' profitability is heavily dependent on its net interest margin, which is the difference between the interest earned on its assets (like loans) and the interest paid on its liabilities (like deposits). Significant or rapid fluctuations in market interest rates could adversely affect this margin. For instance, a sudden increase in interest rates could raise the cost of its deposits and other funding sources more quickly than the yields on its loan portfolio, thereby compressing profitability.
  3. Competition and Market Saturation: Operating in specific regional markets (Maine, New Hampshire, and Vermont), Bar Harbor Bankshares faces intense competition for deposits, loans, and wealth management clients from a variety of financial institutions, including larger national banks, other regional and community banks, credit unions, and emerging financial technology companies. This competitive landscape can limit growth opportunities, constrain pricing power, and increase the costs associated with attracting and retaining customers, potentially impacting market share and profitability.

AI Analysis | Feedback

The rise of fintech companies and digital-only banks represents an emerging threat. These entities operate with significantly lower overhead due to minimal or no physical branch networks, allowing them to offer more competitive interest rates on deposits and loans, and a superior digital customer experience. This poses a direct threat to Bar Harbor Bankshares' ability to attract and retain customers for its deposit products and various lending services (commercial, residential, consumer), particularly as customer preferences shift towards digital-first solutions over traditional brick-and-mortar banking. Furthermore, the proliferation of robo-advisors and automated investment platforms poses a threat to Bar Harbor Bankshares' wealth management, financial planning, and investment management services. These platforms offer algorithm-driven investment solutions at significantly lower costs, potentially attracting clients who seek efficient, accessible, and cost-effective alternatives to traditional human advisory services.

AI Analysis | Feedback

The addressable markets for Bar Harbor Bankshares' main products and services in Maine, New Hampshire, and Vermont are sized as follows:

Deposits

  • Maine: The total deposits for all 29 retail banks in Maine were $41.9 billion as of June 30, 2021.
  • New Hampshire: Total deposits across all banks in New Hampshire were $47.7 billion as of the second quarter of 2024.
  • Vermont: Total deposits held at community bank branches in Vermont amounted to $8.74 billion as of December 13, 2024.

Lending Services

Commercial Real Estate Loans

  • Maine: Commercial real estate loans for banks headquartered in Maine were $9.08 billion during the first six months of 2021. The Real Estate Loans & Collateralized Debt industry in Maine experienced an average annual growth rate of 10.1% from 2020 to 2025.
  • New Hampshire: Banks in New Hampshire lent $2.15 billion in mortgages in 2024, which can include commercial real estate. The Real Estate Loans & Collateralized Debt industry in New Hampshire grew at an average annual rate of 12.1% from 2020 to 2025.
  • Vermont: Nonresidential real estate loans in Vermont were $161 million in the second quarter of 2025. Vermont Federal Credit Union granted $103 million in real estate loans in 2024, which may include commercial real estate.

Commercial and Industrial (C&I) Loans

  • Maine: Commercial and industrial (C&I) loans for banks headquartered in Maine were $3.64 billion during the first six months of 2021.
  • New Hampshire: Banks in New Hampshire provided $619 million in small business lending in 2024. In 2024, small business loans totaled $2.4 billion.
  • Vermont: Total new lending to businesses with revenues of $1 million or less was $376.5 million in 2023. Vermont Federal Credit Union funded $23 million in business loans in 2024.

Residential Real Estate Loans

  • Maine: Residential 1-4 family loans for banks headquartered in Maine amounted to $10.38 billion during the first six months of 2021.
  • New Hampshire: New home loans booked in New Hampshire totaled $4.3 billion in 2024.
  • Vermont: Residential real estate loans in Vermont were $379 million in the second quarter of 2025. Vermont Federal Credit Union granted $103 million in real estate loans in 2024.

Consumer Loans

  • Maine: Consumer loans for banks headquartered in Maine were $276 million during the first six months of 2021.
  • Vermont: Consumer loans in Vermont were $10 million in the second quarter of 2025. Vermont Federal Credit Union provided $105 million in consumer loans in 2024.

Wealth Management Banking Services

  • No specific addressable market size (e.g., total assets under management or total revenue) for wealth management services in Maine, New Hampshire, or Vermont was explicitly identified in the provided information.

AI Analysis | Feedback

Expected Drivers of Future Revenue Growth for Bar Harbor Bankshares (BHB)

  • Loan Growth, particularly in Commercial and Specialized Lending: Bar Harbor Bankshares anticipates revenue growth through expanding its lending portfolio, with a specific focus on commercial and consumer loans. The company has established new teams dedicated to renewable energy and healthcare infrastructure lending, aiming to capitalize on significant regional investment flows and diversify its loan mix. This is expected to drive loan growth, as evidenced by total loans reaching $3.61 billion at year-end 2025, up from $3.15 billion in 2024.
  • Expansion of Wealth Management Services: The growth of Bar Harbor Wealth Management is a key driver for increasing non-interest income. The company has actively embedded advisors within its branches to enhance fee income. Initiatives such as the "Wealth Management Reimagined" launch in 2024–2025 specifically targeted intergenerational wealth transfer in Northern New England, contributing to a 12 percent rise in assets under management within the wealth division. Assets under management were approximately $3.0 billion as of December 31, 2025, up from $2.8 billion a year earlier.
  • Strategic Mergers & Acquisitions and Geographic Expansion: Bar Harbor Bankshares strategically targets community banks with assets between $200 million and $500 million for bolt-on acquisitions, seeking geographic synergy, low-cost deposits, and rapid earnings accretion. The acquisition of Guaranty Bancorp, Inc., parent company of Woodsville Guaranty Savings Bank, in Q2 2025, exemplifies this strategy, strengthening Bar Harbor Bankshares' presence in key markets and expanding its operational scale and service offerings. The bank concentrates its organic expansion efforts on higher-growth areas like Southern New Hampshire and the Burlington, Vermont metro area.
  • Organic Deposit Growth and Digital Channel Enhancement: The company is focused on attracting organic deposit growth, particularly in targeted high-growth metropolitan areas. Furthermore, investments in digital channels are a significant factor, with Bar Harbor Online and Mobile platforms handling over 70% of routine transaction volume. The bank's omnichannel sales strategy, which blends its physical branch network with a rapidly expanding digital ecosystem, coupled with data-driven marketing, is crucial for customer acquisition and commercial growth.

AI Analysis | Feedback

Share Repurchases

  • Bar Harbor Bankshares announced a share repurchase plan in the first quarter of 2024.

Share Issuance

  • The company completed the acquisition of Guaranty Bancorp, Inc. in June 2025, involving stock consideration as part of the merger structure. This acquisition added $658.1 million of total assets.
  • In February 2026, restricted stock shares were granted to several executives as equity-based compensation, including 3,174 shares to an Executive Vice President, 2,150 shares to an officer, 2,598 shares to another Executive Vice President, 4,697 shares to the EVP, CFO & Treasurer, and 2,962 shares to a Senior Vice President.

Outbound Investments

  • Bar Harbor Bankshares acquired Guaranty Bancorp, Inc., with the merger completing in June 2025. The consideration paid for the acquisition was $39.2 million.
  • The acquisition resulted in the addition of $658.1 million in total assets, which included $413.4 million in loans, and $641.2 million in total liabilities, primarily comprising $531.3 million in deposits and $109.2 million in borrowings and subordinated debt.

Capital Expenditures

  • Bar Harbor Bankshares invested $1.1 million in capital expenditures during Q3 2025, primarily for funding long-term assets and infrastructure.
  • Capital expenditures were approximately $1.10 million in a recent period, $1.99 million in a preceding period, and $1.54 million before that.

Peer Outperformance in Regional Banks

BHB has outperformed 63% of its 264 Regional Banks peers over 5Y. Among the peers that beat it is SRCE. Regional Banks ranks 7th of 18 industries in Financials by median 5Y return.
Share of Regional Banks constituents that BHB has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
72%
of 285 industry peers · 41.9% return
3Y
40%
of 275 industry peers · 88.5% return
5Y
63%
of 264 industry peers · 68.5% return
Regional Banks peers with revenue growth within 4pp of BHB's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
BHB Bar Harbor Bankshares 8.3% 13.8x 41.9%88.5%68.5% —
SRCE 1st Source 7.5% 11.8x 47.5%112.2%105.4% +37pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Financials sector, ranked by 5Y. Regional Banks is BHB's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Reinsurance 6 34.8%72.3%116.9% SPNT 169% · RGA 140% · RNR 137%
Investment Banking & Brokerage 13 -10.3%107.9%99.8% IBKR 386% · SNEX 175% · HOOD 158%
Diversified Banks 12 29.9%162.0%88.9% CM 144% · RY 129% · JPM 125%
Life & Health Insurance 20 16.3%54.8%80.0% JXN 510% · UNM 287% · MFC 184%
Property & Casualty Insurance 41 16.7%74.7%63.3% TRV 168% · PGR 163% · ACGL 156%
Multi-line Insurance 9 6.9%67.4%58.9% GNW 106% · L 99% · AIZ 89%
Regional Banks ← 265 30.6%101.4%54.9% CBC 247% · FCNCA 187% · NIC 148%
Multi-Sector Holdings 3 3.6%62.9%53.2% BRK-B 87% · VOYA 53% · JEF 35%
Financial Exchanges & Data 15 3.3%41.5%22.8% CBOE 161% · VIRT 156% · CME 66%
Insurance Brokers 15 -1.5%9.6%17.7% LIFE 384% · ARX 89% · AJG 67%
Asset Management & Custody Banks 85 -12.0%23.3%8.4% WT 274% · VCTR 251% · AAMI 220%
Consumer Finance 30 2.5%82.6%5.4% ENVA 455% · FCFS 122% · AXP 94%
Diversified Financial Services 4 -6.0%20.6%4.8% FRHC 166% · EQH 84%
Commercial & Residential Mortgage Finance 14 -53.6%28.1%-1.6% FNMA 372% · FMCC 318% · ACT 160%
Specialized Finance 3 10.3%42.3%-9.6% CACC -10% · HASI -23%
Mortgage REITs 34 -19.4%-2.7%-33.7% RITM 35% · DX 21% · AGNC 12%
Transaction & Payment Processing Services 17 2.8%15.9%-38.5% V 98% · MA 89% · CPAY 57%
Diversified Capital Markets 20 -49.5%20.9%-60.1% LPLA 58% · TW 40% · RIOT -48%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

BHBCACEBCINDBNBTBCBUMedian
NameBar Harb.Camden N.Eastern .Independ.NBT Banc.Communit. 
Mkt Price40.5558.3022.5282.7551.9562.8655.13
Mkt Cap0.71.04.94.02.73.33.0
Rev LTM1932581,115990740860800
Op Inc LTM-------
FCF LTM57103385304246247246
FCF 3Y Avg4865301251196218207
CFO LTM64108406322262308285
CFO 3Y Avg5571317269210259234

Growth & Margins

BHBCACEBCINDBNBTBCBUMedian
NameBar Harb.Camden N.Eastern .Independ.NBT Banc.Communit. 
Rev Chg LTM30.9%23.5%84.4%41.2%19.4%10.2%27.2%
Rev Chg 3Y Avg8.3%15.4%54.6%11.5%13.3%9.7%12.4%
Rev Chg Q43.7%8.5%26.8%39.5%9.1%12.2%19.5%
QoQ Delta Rev Chg LTM8.5%2.0%6.2%7.7%2.1%2.9%4.6%
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM33.1%41.9%36.5%32.5%35.4%35.8%35.6%
CFO/Rev 3Y Avg34.0%34.2%41.8%34.1%32.7%32.9%34.0%
FCF/Rev LTM29.6%39.8%34.6%30.7%33.2%28.7%31.9%
FCF/Rev 3Y Avg29.3%31.6%39.7%31.7%30.6%27.8%31.1%

Valuation

BHBCACEBCINDBNBTBCBUMedian
NameBar Harb.Camden N.Eastern .Independ.NBT Banc.Communit. 
Mkt Cap0.71.04.94.02.73.33.0
P/S3.53.84.44.03.73.83.8
P/Op Inc-------
P/EBIT-------
P/E13.811.113.114.712.614.513.4
P/CFO10.69.112.112.410.310.710.7
Total Yield10.5%11.9%10.0%9.7%10.8%9.9%10.3%
Dividend Yield3.2%2.9%2.4%2.9%2.9%3.0%2.9%
FCF Yield 3Y Avg9.1%8.7%8.1%8.8%9.0%7.0%8.8%
D/E0.40.30.10.20.10.20.2
Net D/E-0.4-0.7-0.0-0.2-0.1-0.7-0.3

Returns

BHBCACEBCINDBNBTBCBUMedian
NameBar Harb.Camden N.Eastern .Independ.NBT Banc.Communit. 
1M Rtn3.4%2.4%6.6%4.0%2.2%3.9%3.7%
3M Rtn3.0%0.5%-1.6%-1.8%-3.5%-1.7%-1.6%
6M Rtn19.9%23.4%14.9%9.1%20.8%2.5%17.4%
12M Rtn41.8%59.8%34.8%25.1%30.1%13.0%32.4%
3Y Rtn88.4%135.6%119.6%94.8%73.1%79.6%91.6%
1M Excs Rtn3.6%3.7%6.4%4.9%2.5%4.1%3.9%
3M Excs Rtn-0.4%-2.6%-6.0%-5.3%-5.2%-6.8%-5.2%
6M Excs Rtn11.4%14.9%6.4%0.5%12.3%-6.0%8.9%
12M Excs Rtn28.2%49.7%21.8%12.5%19.2%0.3%20.5%
3Y Excs Rtn8.4%59.2%32.9%15.2%-0.9%-9.0%11.8%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Banking operations168150153148138
Total168150153148138


Price Behavior

Price Behavior
Market Price$40.57 
Market Cap ($ Bil)0.7 
First Trading Date09/23/1997 
Distance from 52W High-0.8% 
   50 Days200 Days
DMA Price$39.43$35.91
DMA Trendindeterminateup
Distance from DMA2.9%13.0%
 3M1YR
Volatility16.5%23.3%
Downside Capture-0.5128.39
Upside Capture19.5365.34
Correlation (S&P 500)8.8%20.5%
BHB Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.400.370.360.140.420.78
Up Beta-0.060.890.070.080.260.83
Down Beta0.16-0.480.06-0.420.360.77
Up Capture39%21%54%43%52%52%
Bmk +ve Days6162766132424
Stock +ve Days10193264129382
Down Capture63%46%45%12%46%89%
Bmk -ve Days16263760120328
Stock -ve Days12233262123365

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BHB
BHB41.1%23.3%1.40-
Sector ETF (XLF)6.6%14.5%0.2047.3%
Equity (SPY)13.7%12.7%0.7219.2%
Gold (GLD)1.8%28.3%0.05-3.2%
Commodities (DBC)48.4%20.6%1.80-26.0%
Real Estate (VNQ)2.8%13.9%-0.0540.7%
Bitcoin (BTCUSD)-29.4%43.4%-0.6810.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BHB
BHB11.5%32.6%0.38-
Sector ETF (XLF)8.7%18.3%0.3455.4%
Equity (SPY)12.7%17.1%0.5640.8%
Gold (GLD)17.5%18.9%0.74-0.6%
Commodities (DBC)9.1%19.5%0.355.8%
Real Estate (VNQ)0.6%18.9%-0.0843.7%
Bitcoin (BTCUSD)4.1%51.6%0.2618.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BHB
BHB9.1%38.0%0.34-
Sector ETF (XLF)13.2%22.1%0.5462.8%
Equity (SPY)15.5%17.9%0.7348.7%
Gold (GLD)12.0%16.4%0.60-2.9%
Commodities (DBC)8.2%18.1%0.3713.1%
Real Estate (VNQ)5.0%20.7%0.2047.4%
Bitcoin (BTCUSD)62.3%66.2%1.0215.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity0.5 Mil
Short Interest: % Change Since 9302026-5.5%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest6.0 days
Basic Shares Quantity16.8 Mil
Short % of Basic Shares2.7%

Earnings Returns History

Updated 10/27/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/22/20262.5%  
7/21/20260.6%5.1%3.8%
4/21/20260.9%3.7%1.6%
1/22/20261.0%-3.8%2.6%
10/21/20250.3%1.7%-1.8%
7/22/2025-2.3%-5.2%-1.7%
5/14/20250.7%-4.6%-6.8%
1/23/20251.8%4.6%6.7%
...
SUMMARY STATS   
# Positive141313
# Negative111111
Median Positive1.2%3.6%6.7%
Median Negative-1.6%-4.2%-4.4%
Max Positive8.3%8.0%29.6%
Max Negative-5.3%-6.2%-9.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/22/20262.5%  
7/21/20260.6%5.1%3.8%
4/21/20260.9%3.7%1.6%
1/22/20261.0%-3.8%2.6%
10/21/20250.3%1.7%-1.8%
7/22/2025-2.3%-5.2%-1.7%
5/14/20250.7%-4.6%-6.8%
1/23/20251.8%4.6%6.7%
10/22/20248.3%8.0%15.4%
7/18/2024-0.8%7.2%-3.1%
5/16/20241.1%-5.9%-5.9%
1/23/2024-1.6%-0.8%-9.2%
10/17/20231.3%-3.6%8.7%
7/20/2023-3.1%0.4%-2.0%
4/20/2023-5.3%-6.2%-6.7%
1/19/2023-1.2%-1.4%1.0%
10/19/20224.6%6.9%11.3%
7/21/2022-1.6%3.0%6.7%
4/21/2022-2.5%-5.3%-9.7%
1/20/2022-0.6%2.6%-4.4%
10/21/20213.3%3.1%8.4%
7/21/20212.1%3.6%-3.2%
4/27/2021-0.8%-0.6%1.0%
1/28/20210.1%3.4%29.6%
10/27/2020-2.5%-4.2%14.0%
SUMMARY STATS   
# Positive141313
# Negative111111
Median Positive1.2%3.6%6.7%
Median Negative-1.6%-4.2%-4.4%
Max Positive8.3%8.0%29.6%
Max Negative-5.3%-6.2%-9.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202605/05/202610-Q
12/31/202503/13/202610-K
09/30/202511/06/202510-Q
06/30/202508/06/202510-Q
03/31/202505/08/202510-Q
12/31/202403/11/202510-K
09/30/202411/07/202410-Q
06/30/202408/07/202410-Q
03/31/202405/08/202410-Q
12/31/202303/11/202410-K
09/30/202311/07/202310-Q
06/30/202308/07/202310-Q
03/31/202305/08/202310-Q
12/31/202203/14/202310-K
09/30/202211/04/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202605/05/202610-Q
12/31/202503/13/202610-K
09/30/202511/06/202510-Q
06/30/202508/06/202510-Q
03/31/202505/08/202510-Q
12/31/202403/11/202510-K
09/30/202411/07/202410-Q
06/30/202408/07/202410-Q
03/31/202405/08/202410-Q
12/31/202303/11/202410-K
09/30/202311/07/202310-Q
06/30/202308/07/202310-Q
03/31/202305/08/202310-Q
12/31/202203/14/202310-K
09/30/202211/04/202210-Q
06/30/202208/03/202210-Q
03/31/202205/05/202210-Q
12/31/202103/14/202210-K
09/30/202111/08/202110-Q
06/30/202108/03/202110-Q
03/31/202105/05/202110-Q
12/31/202003/10/202110-K
09/30/202011/05/202010-Q
06/30/202008/05/202010-Q
03/31/202005/08/202010-Q
12/31/201903/10/202010-K
09/30/201911/04/201910-Q

Insider Activity

Updated 6/23/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Caras, Matthew LDirectBuy428202634.6876026,357793,962Form
2Colter, David MDirectBuy303202632.5450016,270412,843Form
3Caras, Matthew LDirectBuy1103202529.1258016,890597,644Form
4Shaw, Brian DDirectBuy911202532.0910,000320,850560,318Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Caras, Matthew LDirectBuy428202634.6876026,357793,962Form
2Colter, David MDirectBuy303202632.5450016,270412,843Form
3Caras, Matthew LDirectBuy1103202529.1258016,890597,644Form
4Shaw, Brian DDirectBuy911202532.0910,000320,850560,318Form
Core Cache Last Updated: 10/28/2026