Bar Harbor Bankshares (NYSEAMERICAN:BHB) Stock Price Up 6.2% – Here’s Why

Bar Harbor Bankshares (NYSEAMERICAN:BHB) shares rose 6.2% on Monday . The stock traded as high as $33.78 and last traded at $34.10. Approximately 20,352 shares changed hands during trading, a decline of 51% from the average daily volume of 41,602 shares. The stock had previously closed at $32.12.

Analysts Set New Price Targets

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

Bar Harbor Bankshares Stock Performance

The company has a market cap of $494.40 million, a P/E ratio of 11.36 and a beta of 0.72. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.96 and a quick ratio of 0.96.

Bar Harbor Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Thursday, February 20th. Bar Harbor Bankshares’s dividend payout ratio (DPR) is presently 42.11%.

Institutional Investors Weigh In On Bar Harbor Bankshares

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp lifted its stake in shares of Bar Harbor Bankshares by 5.6% in the third quarter. State Street Corp now owns 362,823 shares of the financial services provider’s stock valued at $11,189,000 after buying an additional 19,118 shares in the last quarter. Barclays PLC boosted its position in shares of 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 buying an additional 16,579 shares during the last quarter. Trust Co. of Vermont grew its holdings 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 worth $1,206,000 after buying an additional 33,478 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in Bar Harbor Bankshares in the 4th quarter valued at $242,000. Finally, JPMorgan Chase & Co. lifted its stake in Bar Harbor Bankshares by 77.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,916 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 22,212 shares in the last quarter. 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.