Bar Harbor Bankshares Q4 net income rises

Reuters
01/23
<a href="https://laohu8.com/S/BHB">Bar Harbor Bankshares</a> Q4 net income rises

Overview

  • Community bank's Q4 net income rises to $11.8 mln

  • Net interest margin for Q4 rose to 3.62%

  • Commercial loans grew 8% annualized in Q4

Outlook

  • Company did not provide specific financial guidance for the upcoming quarter or year in press release

Result Drivers

  • COMMERCIAL LOAN GROWTH - Bar Harbor Bankshares reported an 8% annualized growth in commercial loans, contributing to overall loan growth

  • WEALTH MANAGEMENT MILESTONE - The company's wealth management team reached $3.5 bln in assets under management, boosting fee income

  • CASH BALANCE DECREASE - Cash balances decreased due to maturity of brokered time deposits and loan originations

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 Net Income

Miss

$11.80 mln

$14.51 mln (2 Analysts)

Q4 Adjusted ROE

11.55%

Q4 Credit Loss Allowance

$34.10 mln

Q4 Net Interest Margin

3.62%

Q4 ROE

8.76%

Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the banks peer group is "buy"

  • Wall Street's median 12-month price target for Bar Harbor Bankshares is $35.00, about 2.4% above its January 21 closing price of $34.18

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nACS6jv6Ya

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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