Bar Harbor Bankshares (NYSEAMERICAN:BHB) Short Interest Up 88.6% in March

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 76,000 shares, a growth of 88.6% from the February 28th total of 40,300 shares. Based on an average daily trading volume, of 46,500 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.5% of the company's shares are sold short.

Bar Harbor Bankshares Stock Performance

Shares of BHB traded up $0.10 during midday trading on Tuesday, hitting $29.60. The company had a trading volume of 9,401 shares, compared to its average volume of 43,706. Bar Harbor Bankshares has a 1 year low of $23.26 and a 1 year high of $38.47. The firm has a market capitalization of $451.92 million, a price-to-earnings ratio of 10.38 and a beta of 0.72. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $31.25.

Bar Harbor Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 20th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.05%. The ex-dividend date was Thursday, February 20th. Bar Harbor Bankshares's payout ratio is 42.11%.

Analysts Set New Price Targets

Several research firms have recently commented on BHB. Keefe, Bruyette & Woods raised their price objective on shares of Bar Harbor Bankshares from $35.00 to $36.00 and gave the company a "market perform" rating in a research note on Monday, March 17th. StockNews.com began coverage on shares of Bar Harbor Bankshares in a research report on Monday. They issued a "hold" rating for the company.

Hedge Funds Weigh In On Bar Harbor Bankshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHB. Steward Partners Investment Advisory LLC grew its holdings in shares of Bar Harbor Bankshares by 25.3% during the fourth 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 last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Bar Harbor Bankshares in the 4th quarter valued at about $107,000. Hager Investment Management Services LLC purchased a new position in Bar Harbor Bankshares during the 4th quarter worth approximately $151,000. New York State Common Retirement Fund grew its stake in Bar Harbor Bankshares by 40.4% during 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 buying an additional 1,500 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in Bar Harbor Bankshares during the third quarter worth approximately $203,000. 54.49% of the stock is owned by institutional investors and hedge funds.

Bar Harbor Bankshares Company 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.