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

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

Bar Harbor Bankshares Stock Performance

NYSEAMERICAN:BHB opened at $32.93 on Friday. 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 market capitalization of $502.84 million, a price-to-earnings ratio of 11.55 and a beta of 0.72. Bar Harbor Bankshares has a 12 month low of $23.26 and a 12 month high of $38.47.

Bar Harbor Bankshares Announces Dividend

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC grew its holdings in shares of Bar Harbor Bankshares by 25.3% during 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 last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Bar Harbor Bankshares during the fourth quarter valued at about $107,000. Hager Investment Management Services LLC acquired a new position in shares of Bar Harbor Bankshares during the fourth quarter valued at about $151,000. New York State Common Retirement Fund grew its holdings in shares of 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 buying an additional 1,500 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Bar Harbor Bankshares during the third quarter valued at about $203,000. 54.49% of the stock is currently owned by institutional investors and hedge funds.

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.