Short Interest in Bar Harbor Bankshares (NYSEAMERICAN:BHB) Drops By 6.1%

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) was the recipient of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 91,100 shares, a decrease of 6.1% from the November 15th total of 97,000 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average trading volume of 35,100 shares, the days-to-cover ratio is presently 2.6 days.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BHB shares. Keefe, Bruyette & Woods increased their price objective on shares of Bar Harbor Bankshares from $30.00 to $34.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler reissued a "neutral" rating and set a $33.00 price objective on shares of Bar Harbor Bankshares in a report on Thursday, September 5th.

Bar Harbor Bankshares Stock Down 0.8 %

NYSEAMERICAN BHB traded down $0.26 during trading hours on Tuesday, reaching $34.14. The company's stock had a trading volume of 39,430 shares, compared to its average volume of 36,861. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.96 and a quick ratio of 0.96. Bar Harbor Bankshares has a 52 week low of $23.26 and a 52 week high of $38.47. The firm has a market cap of $521.32 million, a PE ratio of 12.28 and a beta of 0.69.

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.12. The firm had revenue of $58.23 million during the quarter, compared to the consensus estimate of $37.30 million. Bar Harbor Bankshares had a net margin of 18.99% and a return on equity of 9.66%. On average, research analysts forecast that Bar Harbor Bankshares will post 2.82 EPS for the current year.

Bar Harbor Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 3.51%. Bar Harbor Bankshares's payout ratio is 43.17%.

Institutional Investors Weigh In On Bar Harbor Bankshares

Several large investors have recently modified their holdings of BHB. SlateStone Wealth LLC bought a new position in shares of Bar Harbor Bankshares during the 2nd quarter worth approximately $201,000. Janus Henderson Group PLC acquired a new position in shares of Bar Harbor Bankshares during the 3rd quarter valued at $203,000. Camden National Bank acquired a new position in shares of Bar Harbor Bankshares during the 3rd quarter valued at $214,000. Moors & Cabot Inc. bought a new position in Bar Harbor Bankshares during the third quarter worth $214,000. Finally, Sky Investment Group LLC acquired a new stake in Bar Harbor Bankshares in the third quarter worth $216,000. 54.49% of the stock is currently owned by institutional investors and hedge funds.

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.