Bar Harbor Bankshares (NYSE:BHB) Trading Down 1.4% – Here’s Why

Bar Harbor Bankshares (NYSE:BHB) fell 1.4% during mid-day trading on Thursday . The stock traded as low as $34.90 and last traded at $35.14. 67,870 shares were traded during trading, a decline of 13% from the average session volume of 77,965 shares. The stock had previously closed at $35.63.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their target price on shares of Bar Harbor Bankshares from $33.00 to $34.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Bar Harbor Bankshares has a consensus rating of “Hold” and a consensus price target of $34.50.

Bar Harbor Bankshares Trading Down 1.4%

The stock has a market capitalization of $586.45 million, a PE ratio of 15.28 and a beta of 0.65. The stock has a 50 day moving average price of $32.40 and a 200-day moving average price of $31.17.

Hedge Funds Weigh In On Bar Harbor Bankshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new stake in shares of Bar Harbor Bankshares during the 3rd quarter valued at about $38,000. CWM LLC lifted its stake in shares of Bar Harbor Bankshares by 52.9% in the 4th quarter. CWM LLC now owns 1,778 shares of the company’s stock valued at $55,000 after purchasing an additional 615 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Bar Harbor Bankshares in the 1st quarter worth approximately $73,000. Mascoma Wealth Management LLC increased its position in shares of Bar Harbor Bankshares by 677.9% during the 3rd quarter. Mascoma Wealth Management LLC now owns 2,427 shares of the company’s stock valued at $74,000 after purchasing an additional 2,115 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Bar Harbor Bankshares during the 2nd quarter valued at $93,000. 54.49% of the stock is owned by institutional investors.

Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares, Inc is a bank holding company headquartered in Bar Harbor, Maine, operating through its wholly owned subsidiary, Bar Harbor Bank & Trust. The company offers a comprehensive suite of commercial and consumer banking services, including checking and savings accounts, certificates of deposit, and digital banking capabilities. It serves individuals, small businesses, and corporate clients across its footprint in Maine and New Hampshire, with a network of full-service branch offices and lending centers.

In addition to traditional deposit and loan products, Bar Harbor Bankshares provides specialized financial services such as mortgage lending, commercial real estate financing, equipment loans, and lines of credit tailored to the needs of local businesses.