Keefe, Bruyette & Woods Issues Pessimistic Forecast for Bar Harbor Bankshares (NYSEAMERICAN:BHB) Stock Price

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Free Report) had its price objective cut by Keefe, Bruyette & Woods from $35.00 to $33.00 in a research report released on Monday morning,Benzinga reports. They currently have a market perform rating on the financial services provider's stock.

Separately, StockNews.com initiated coverage on shares of Bar Harbor Bankshares in a research report on Saturday, April 19th. They set a "hold" rating for the company.

Bar Harbor Bankshares Stock Up 0.8 %

Shares of Bar Harbor Bankshares stock traded up $0.25 on Monday, reaching $29.44. 4,246 shares of the company were exchanged, compared to its average volume of 44,553. Bar Harbor Bankshares has a 1-year low of $24.48 and a 1-year high of $38.47. The company has a market cap of $449.49 million, a P/E ratio of 10.33 and a beta of 0.72. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.96 and a quick ratio of 0.96. The stock's 50 day moving average price is $30.21 and its 200-day moving average price is $31.32.

Bar Harbor Bankshares Increases Dividend

The company 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 dividend of $0.32 per share. This is a positive change from Bar Harbor Bankshares's previous quarterly dividend of $0.30. The ex-dividend date is Thursday, May 15th. This represents a $1.28 annualized dividend and a yield of 4.35%. Bar Harbor Bankshares's payout ratio is 42.11%.

Institutional Trading of Bar Harbor Bankshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Bar Harbor Bankshares by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 879,697 shares of the financial services provider's stock valued at $26,901,000 after acquiring an additional 7,314 shares during the last quarter. Bar Harbor Wealth Management raised its stake in Bar Harbor Bankshares by 7.0% during the 1st quarter. Bar Harbor Wealth Management now owns 458,476 shares of the financial services provider's stock valued at $13,525,000 after acquiring an additional 30,075 shares during the last quarter. State Street Corp raised its stake in Bar Harbor Bankshares by 5.6% during the 3rd quarter. State Street Corp now owns 362,823 shares of the financial services provider's stock valued at $11,189,000 after acquiring an additional 19,118 shares during the last quarter. Geode Capital Management LLC raised its stake in Bar Harbor Bankshares by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 335,432 shares of the financial services provider's stock valued at $10,348,000 after acquiring an additional 3,602 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Bar Harbor Bankshares by 1.9% during the 4th quarter. American Century Companies Inc. now owns 259,299 shares of the financial services provider's stock worth $7,929,000 after buying an additional 4,713 shares in the last quarter. 54.49% of the stock is owned by hedge funds and other 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.