Short Interest in Bar Harbor Bankshares (NYSEAMERICAN:BHB) Increases By 23.0%

Bar Harbor Bankshares (NYSEAMERICAN:BHB) saw a large increase in short interest in July. As of July 15th, there was short interest totalling 68,400 shares, an increase of 23.0% from the June 30th total of 55,600 shares. Based on an average daily trading volume, of 42,500 shares, the short-interest ratio is currently 1.6 days. Approximately 0.5% of the company’s stock are sold short.

Bar Harbor Bankshares Price Performance

NYSEAMERICAN BHB traded up $0.60 on Tuesday, reaching $32.29. 28,302 shares of the stock were exchanged, compared to its average volume of 37,870. Bar Harbor Bankshares has a one year low of $23.16 and a one year high of $33.31. The stock has a market cap of $491.78 million, a price-to-earnings ratio of 11.68 and a beta of 0.70. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76.

Bar Harbor Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Thursday, August 15th. Bar Harbor Bankshares’s payout ratio is currently 43.64%.

Insider Activity at Bar Harbor Bankshares

In other Bar Harbor Bankshares news, Director Scott G. Toothaker bought 4,476 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were acquired at an average cost of $25.82 per share, for a total transaction of $115,570.32. Following the purchase, the director now owns 45,000 shares in the company, valued at approximately $1,161,900. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders purchased a total of 5,466 shares of company stock valued at $140,534 in the last 90 days. Corporate insiders own 2.53% of the company’s stock.

Institutional Investors Weigh In On Bar Harbor Bankshares

Several institutional investors and hedge funds have recently modified their holdings of BHB. Mitchell Sinkler & Starr PA purchased a new position in shares of Bar Harbor Bankshares in the fourth quarter valued at $668,000. Dimensional Fund Advisors LP boosted its stake in Bar Harbor Bankshares by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 807,635 shares of the financial services provider’s stock worth $23,713,000 after buying an additional 21,856 shares during the period. Black Maple Capital Management LP purchased a new position in Bar Harbor Bankshares during the first quarter worth $402,000. J.W. Cole Advisors Inc. purchased a new position in Bar Harbor Bankshares during the fourth quarter worth $435,000. Finally, Brendel Financial Advisors LLC purchased a new position in Bar Harbor Bankshares during the fourth quarter worth $371,000. Institutional investors own 54.49% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $28.00 price objective (down previously from $29.00) on shares of Bar Harbor Bankshares in a research note on Monday, April 22nd.

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.