NYSE$BHB

Bar Harbor Bankshares · Q1 2024 earnings

Q1 2024 earnings · · Investor relations

Briefing

Bar Harbor Bankshares reported stable earnings in line with expectations for Q1 2024.

Bar Harbor Bankshares reported a net income of $10.1 million, or $0.66 per diluted share, for the first quarter of 2024. The company saw yield expansion across all earning asset classes, maintained robust liquidity and capital levels, and demonstrated strong credit metrics.

  • Return on assets was 1.03%.
  • Commercial loan growth was 7% annualized.
  • Net interest margin was 3.14%.
  • Non-accruing loans to total loans ratio was 0.23%.

Headline financials

Total Revenue

$36.6M

Previous: $40.1M-8.6%
EPS

$0.66

Previous: $0.86-23.3%
Net Interest Margin

3.1%

Previous: 3.5%-11.3%
Efficiency Ratio

59.8%

Previous: 55.0%+8.8%
Capital Expenditures

-$671K

Previous: -$1.15M+41.8%
Free Cash Flow

$9.42M

Previous: $11.9M-20.5%
Net Income

$10.1M

Previous: $13M-22.4%
Operating Income

$12M

Previous: $23.9M-50.0%
Gross Profit

$36.6M

Previous: $40.1M-8.6%
Cash & Equivalents

$76.2M

Previous: $82.7M-7.8%
Total Assets

$3.96B

Previous: $3.93B+0.8%
Stock-Based Comp

$487K

Previous: $683K-28.7%

Revenue & EPS history

Bar Harbor Bankshares · Revenue · Quarterly

$36.6M

Q1 2024-8.6%vs Q1 2023
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Revenue by segment

Bar Harbor Bankshares · $7.45M total across 2 segments · Q3 2023

  • Customer Fees
    $3.93M
  • Trust Mgmt Fees
    $3.52M

Forward guidance

No specific forward guidance was provided in the press release.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2024

Historical avgQ1 2024

-0.4%

Avg return

Earnings day

+0.0%

Avg return

5 days after

+1.5%

Avg return

30 days after

38%

25 / 66 earnings

Positive

+10.0%

Q3 2024

Best reaction

-8.4%

Q1 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.6%+1.2%+1.9%
Q4 2025-1.8%-4.7%+0.6%
Q3 2025-1.9%-0.4%+0.4%
Q2 2025-2.3%-2.4%+2.9%
Q1 2025-3.2%+0.7%+5.6%
Q4 2024+1.8%+3.9%+5.8%
Q3 2024+10.0%+8.0%+18.0%
Q2 2024-4.4%+3.0%-7.6%
Q1 2024+7.4%+6.6%+16.2%
Q4 2023-3.9%-2.2%-10.4%
Q3 2023+2.5%+0.6%+9.6%
Q2 2023-3.8%-2.2%-3.8%
Q1 2023-3.1%-3.5%-5.6%
Q4 2022+1.3%+0.4%-12.5%
Q3 2022+3.0%+4.6%+7.2%
Q2 2022-1.0%+1.1%+6.5%
Q1 2022-5.0%-6.4%-13.0%
Q4 2021-0.5%+1.9%-3.9%
Q3 2021+2.3%+3.2%+6.5%
Q2 2021+4.2%+6.1%-3.2%
Q1 2021-3.1%-3.5%+2.5%
Q4 2020-1.2%+3.2%+28.5%
Q3 2020-6.3%-6.9%+12.0%
Q2 2020-0.0%-1.8%+0.3%
Q1 2020-8.4%-13.7%-3.1%
Q4 2019-1.6%-4.5%-8.5%
Q3 2019-3.4%-1.6%-0.9%
Q2 2019-0.7%+1.0%-6.6%
Q1 2019-0.8%+1.1%-1.2%
Q4 2018-0.5%-0.6%+4.3%
Q3 2018+1.6%+1.3%-7.2%
Q2 2018+0.8%+0.9%-0.9%
Q1 2018-0.3%+2.8%+5.4%
Q4 2017+0.8%+2.3%+4.2%
Q3 2017-3.8%-4.2%-4.6%
Q2 2017-1.8%-6.2%-6.3%
Q1 2017-1.4%-4.8%-4.3%
Q4 2016+2.3%+10.1%-2.3%
Q3 2016+0.4%+8.8%+26.7%
Q2 2016-0.2%-1.2%+2.6%
Q1 2016-1.8%
Q4 2015-1.4%
Q3 2015+1.6%
Q2 2015-0.4%
Q1 2015+1.1%
Q4 2014-1.5%
Q3 2014+1.4%
Q2 2014+0.0%
Q1 2014+1.3%
Q4 2013+0.1%
Q3 2013+0.4%
Q2 2013-1.7%
Q2 2010-2.2%
Q2 2011-2.2%
Q1 2013-2.7%
Q1 2011+0.4%
Q4 2012+0.0%
Q3 2012-0.2%
Q2 2012-1.1%
Q1 2012-0.1%
Q4 2011+1.1%
Q4 2009+1.1%
Q4 2010+1.1%
Q3 2010-0.3%
Q3 2011-0.3%
Q1 2010+5.4%

Discussion

Share your read of this quarter. Sign-in carries your eToro identity.

Join the conversation

Sign in with eToro to post your read of this quarter and vote on others'.

Sign in with eToro