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Investing.com - Keefe, Bruyette & Woods raised its price target on Bar Harbor Bankshares (NYSE:BHB) to $34.00 from $33.00 while maintaining a Market Perform rating.
The price target increase follows Bar Harbor’s reported operating earnings of $0.95 per share, which exceeded expectations due to stronger pre-provision net revenue (PPNR) and a lower provision. According to InvestingPro, two analysts have recently revised their earnings estimates upward for the upcoming period, suggesting growing confidence in the bank’s outlook.
The bank’s improved performance was driven by stronger net interest income as net interest margin expanded 33 basis points, along with lower expenses. Bar Harbor demonstrated steady organic loan growth at 2% on an annualized basis, while organic deposit growth was robust at 16%.
During the quarter, Bar Harbor completed its acquisition of Guaranty Bancorp and finished the integration process.
KBW adjusted its model for the acquisition and quarterly results, raising forward estimates due to lower expenses, while noting that lower fee income partially offset these improvements.
In other recent news, Bar Harbor Bankshares completed its acquisition of Guaranty Bancorp on July 31, 2025. This strategic move has prompted Piper Sandler to upgrade Bar Harbor Bankshares’ stock rating from Neutral to Overweight. Additionally, Piper Sandler has increased its price target for the bank from $34.00 to $35.00. The acquisition of Guaranty Bancorp is seen as a significant factor contributing to the positive outlook for Bar Harbor. These developments are part of the bank’s ongoing efforts to expand its market presence. Investors may view the acquisition as a strategic advantage for Bar Harbor Bankshares. Piper Sandler’s upgrade reflects confidence in the bank’s future performance.
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