Bar Harbor Bankshares (NYSEAMERICAN:BHB) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) in a research note published on Sunday morning. The firm issued a hold rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods raised their target price on shares of Bar Harbor Bankshares from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, March 17th.

Bar Harbor Bankshares Stock Performance

NYSEAMERICAN BHB opened at $28.06 on Friday. The business’s 50 day moving average price is $30.57 and its 200-day moving average price is $31.37. Bar Harbor Bankshares has a fifty-two week low of $23.26 and a fifty-two week high of $38.47. The company has a market cap of $428.48 million, a P/E ratio of 9.85 and a beta of 0.72. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 0.96.

Bar Harbor Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 20th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $1.20 annualized dividend and a yield of 4.28%. Bar Harbor Bankshares’s payout ratio is currently 42.11%.

Institutional Trading of Bar Harbor Bankshares

Several institutional investors and hedge funds have recently made changes to their positions in BHB. Steward Partners Investment Advisory LLC increased its position in Bar Harbor Bankshares by 25.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,855 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 576 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Bar Harbor Bankshares during the fourth quarter valued at approximately $107,000. GAMMA Investing LLC increased its holdings in Bar Harbor Bankshares by 4,202.1% during the first quarter. GAMMA Investing LLC now owns 4,130 shares of the financial services provider’s stock valued at $122,000 after buying an additional 4,034 shares during the period. Hager Investment Management Services LLC bought a new position in Bar Harbor Bankshares in the fourth quarter worth approximately $151,000. Finally, New York State Common Retirement Fund lifted its holdings in Bar Harbor Bankshares by 40.4% during the fourth quarter. New York State Common Retirement Fund now owns 5,213 shares of the financial services provider’s stock worth $159,000 after buying an additional 1,500 shares during the period. 54.49% of the stock is currently owned by institutional investors.

About Bar Harbor Bankshares

Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides banking and nonbanking products and services primarily to consumers and businesses. It accepts various deposit products, including interest-bearing and non-interest-bearing demand accounts, savings accounts, time deposits, and money market deposit accounts, as well as certificates of deposit.