StockNews.com started coverage on shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB - Free Report) in a research report released on Saturday. The brokerage issued a hold rating on the financial services provider's stock.
Separately, Keefe, Bruyette & Woods lowered their price objective on shares of Bar Harbor Bankshares from $35.00 to $33.00 and set a "market perform" rating for the company in a report on Monday, April 21st.
View Our Latest Analysis on Bar Harbor Bankshares
Bar Harbor Bankshares Stock Performance
BHB stock traded up $0.28 during midday trading on Friday, reaching $29.54. 47,355 shares of the company's stock traded hands, compared to its average volume of 41,230. 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 has a 52 week low of $24.48 and a 52 week high of $38.47. The firm has a market capitalization of $451.08 million, a PE ratio of 10.36 and a beta of 0.72. The company has a 50-day moving average price of $29.96 and a two-hundred day moving average price of $31.30.
Bar Harbor Bankshares Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This is an increase from Bar Harbor Bankshares's previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 4.33%. Bar Harbor Bankshares's dividend payout ratio (DPR) is presently 42.11%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC increased its holdings 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 worth $87,000 after purchasing an additional 576 shares during the period. KLP Kapitalforvaltning AS bought a new position in Bar Harbor Bankshares in the fourth quarter worth approximately $107,000. GAMMA Investing LLC lifted 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 worth $122,000 after buying an additional 4,034 shares during the period. Hager Investment Management Services LLC bought a new stake in Bar Harbor Bankshares during the 4th quarter valued at $151,000. Finally, New York State Common Retirement Fund increased its holdings in shares of Bar Harbor Bankshares by 40.4% in the 4th quarter. New York State Common Retirement Fund now owns 5,213 shares of the financial services provider's stock valued at $159,000 after acquiring an additional 1,500 shares during the period. 54.49% of the stock is owned by hedge funds and other institutional investors.
Bar Harbor Bankshares Company Profile
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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.
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