Bar Harbor Bankshares (NYSEAMERICAN:BHB) Sees Large Drop in Short Interest

Bar Harbor Bankshares (NYSEAMERICAN:BHB) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 44,300 shares, a drop of 25.4% from the January 15th total of 59,400 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily volume of 42,300 shares, the short-interest ratio is currently 1.0 days.

Institutional Trading of Bar Harbor Bankshares

Hedge funds have recently added to or reduced their stakes in the stock. Boston Partners raised its position in shares of Bar Harbor Bankshares by 74.5% in the fourth quarter. Boston Partners now owns 124,321 shares of the financial services provider’s stock valued at $3,802,000 after purchasing an additional 53,063 shares during the period. Trust Co. of Vermont grew its stake in Bar Harbor Bankshares by 561.1% during the fourth quarter. Trust Co. of Vermont now owns 39,444 shares of the financial services provider’s stock valued at $1,206,000 after acquiring an additional 33,478 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Bar Harbor Bankshares by 59.1% during the fourth quarter. JPMorgan Chase & Co. now owns 81,000 shares of the financial services provider’s stock valued at $2,477,000 after acquiring an additional 30,084 shares in the last quarter. State Street Corp grew its stake 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 valued at $11,189,000 after acquiring an additional 19,118 shares in the last quarter. Finally, Barclays PLC grew its stake in Bar Harbor Bankshares by 50.0% during the third quarter. Barclays PLC now owns 49,714 shares of the financial services provider’s stock valued at $1,533,000 after acquiring an additional 16,579 shares in the last quarter. Institutional investors own 54.49% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $35.00 price target (up from $34.00) on shares of Bar Harbor Bankshares in a research report on Monday, January 27th.

Bar Harbor Bankshares Stock Up 1.1 %

Shares of BHB stock opened at $32.93 on Friday. The stock has a market capitalization of $502.84 million, a price-to-earnings ratio of 11.55 and a beta of 0.72. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 0.96. Bar Harbor Bankshares has a 52 week low of $23.26 and a 52 week high of $38.47.

Bar Harbor Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 20th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.64%. The ex-dividend date is Thursday, February 20th. Bar Harbor Bankshares’s dividend payout ratio is 42.11%.

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.