M&T Bank Corp Cuts Stock Holdings in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

M&T Bank Corp lessened its stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB - Free Report) by 49.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,981 shares of the financial services provider's stock after selling 33,400 shares during the quarter. M&T Bank Corp owned approximately 0.22% of Bar Harbor Bankshares worth $1,039,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BHB. Steward Partners Investment Advisory LLC increased its holdings in Bar Harbor Bankshares by 25.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,855 shares of the financial services provider's stock worth $87,000 after acquiring an additional 576 shares in the last quarter. Hager Investment Management Services LLC purchased a new stake in Bar Harbor Bankshares in the 4th quarter worth $151,000. New York State Common Retirement Fund increased its holdings in 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 worth $159,000 after acquiring an additional 1,500 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Bar Harbor Bankshares during the 3rd quarter worth $203,000. Finally, Camden National Bank acquired a new stake in Bar Harbor Bankshares during the 3rd quarter worth $214,000. Hedge funds and other institutional investors own 54.49% of the company's stock.

Bar Harbor Bankshares Stock Down 0.9 %

Shares of BHB opened at $29.31 on Wednesday. Bar Harbor Bankshares has a 52-week low of $23.26 and a 52-week high of $38.47. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 0.96. The business's fifty day simple moving average is $31.26. The firm has a market cap of $447.56 million, a PE ratio of 10.28 and a beta of 0.72.

Bar Harbor Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, February 20th. This represents a $1.20 annualized dividend and a dividend yield of 4.09%. Bar Harbor Bankshares's payout ratio is 42.11%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $35.00 target price (up previously from $34.00) on shares of Bar Harbor Bankshares in a research note on Monday, January 27th.

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Bar Harbor Bankshares Profile

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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