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

Investment analysts at StockNews.com assumed coverage on shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) in a research note issued on Monday. The firm set a “hold” rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods raised their price target 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 Stock Performance

Shares of BHB opened at $29.82 on Monday. Bar Harbor Bankshares has a 1 year low of $23.26 and a 1 year high of $38.47. The stock has a market cap of $455.35 million, a PE ratio of 10.46 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 firm has a 50-day moving average of $31.25.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BHB. State Street Corp raised its holdings in Bar Harbor Bankshares by 5.6% during the third quarter. State Street Corp now owns 362,823 shares of the financial services provider’s stock worth $11,189,000 after purchasing an additional 19,118 shares in the last quarter. Barclays PLC raised its stake in shares of Bar Harbor Bankshares by 50.0% during the 3rd quarter. Barclays PLC now owns 49,714 shares of the financial services provider’s stock worth $1,533,000 after buying an additional 16,579 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of Bar Harbor Bankshares by 561.1% in the 4th quarter. Trust Co. of Vermont now owns 39,444 shares of the financial services provider’s stock valued at $1,206,000 after buying an additional 33,478 shares during the period. Kingswood Wealth Advisors LLC purchased a new stake in shares of Bar Harbor Bankshares in the fourth quarter valued at approximately $242,000. Finally, JPMorgan Chase & Co. grew its holdings in Bar Harbor Bankshares by 77.4% during the third quarter. JPMorgan Chase & Co. now owns 50,916 shares of the financial services provider’s stock worth $1,570,000 after acquiring an additional 22,212 shares during the period. Institutional investors and hedge funds own 54.49% of the company’s stock.

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.