Bar Harbor Bankshares (NYSEAMERICAN:BHB) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) in a research report sent to investors on Saturday morning. The firm issued a hold rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods increased their target price on Bar Harbor Bankshares from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, March 17th.

Bar Harbor Bankshares Trading Down 3.2 %

NYSEAMERICAN BHB opened at $28.05 on Friday. The stock’s 50 day moving average is $30.34 and its 200 day moving average is $31.35. 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 firm has a market capitalization of $428.32 million, a PE ratio of 9.84 and a beta of 0.72. Bar Harbor Bankshares has a twelve month low of $24.48 and a twelve month high of $38.47.

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 issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, May 15th. This is a boost from Bar Harbor Bankshares’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 4.56%. Bar Harbor Bankshares’s dividend payout ratio (DPR) is currently 42.11%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC raised its stake in 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 valued at $87,000 after purchasing an additional 576 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Bar Harbor Bankshares during the 4th quarter valued at $107,000. GAMMA Investing LLC grew its holdings in Bar Harbor Bankshares by 4,202.1% during the 1st quarter. GAMMA Investing LLC now owns 4,130 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 4,034 shares in the last quarter. Hager Investment Management Services LLC purchased a new position in Bar Harbor Bankshares during the 4th quarter valued at about $151,000. Finally, New York State Common Retirement Fund lifted its holdings in Bar Harbor Bankshares by 40.4% during the fourth 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 period. Institutional investors own 54.49% of the company’s stock.

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.