StockNews.com Begins Coverage on Bar Harbor Bankshares (NYSEAMERICAN:BHB)

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

Separately, Keefe, Bruyette & Woods lifted their target price on 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.

Bar Harbor Bankshares Price Performance

BHB opened at $28.08 on Monday. 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 company has a market capitalization of $428.78 million, a PE ratio of 9.85 and a beta of 0.72. The firm’s 50 day moving average is $31.06. Bar Harbor Bankshares has a one year low of $23.26 and a one year high of $38.47.

Bar Harbor Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 20th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Thursday, February 20th. Bar Harbor Bankshares’s dividend payout ratio is 42.11%.

Institutional Investors Weigh In On Bar Harbor Bankshares

A number of institutional investors and hedge funds have recently modified their holdings of BHB. Steward Partners Investment Advisory LLC lifted its stake in Bar Harbor Bankshares by 25.3% in 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 buying an additional 576 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Bar Harbor Bankshares in the 4th quarter valued at about $107,000. GAMMA Investing LLC raised its position in shares of Bar Harbor Bankshares by 4,202.1% in the 1st quarter. GAMMA Investing LLC now owns 4,130 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 4,034 shares during the period. Hager Investment Management Services LLC bought a new position in Bar Harbor Bankshares during the 4th quarter worth approximately $151,000. Finally, New York State Common Retirement Fund grew 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 valued at $159,000 after purchasing an additional 1,500 shares during the period. 54.49% of the stock is owned by 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.