Bar Harbor Bankshares (NYSEAMERICAN:BHB) Short Interest Update

Bar Harbor Bankshares (NYSEAMERICAN:BHB) saw a significant drop in short interest in May. As of May 15th, there was short interest totalling 72,800 shares, a drop of 6.8% from the April 30th total of 78,100 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily volume of 34,800 shares, the days-to-cover ratio is presently 2.1 days.

Bar Harbor Bankshares Stock Performance

NYSEAMERICAN BHB traded down $0.19 on Monday, reaching $26.08. 8,782 shares of the company were exchanged, compared to its average volume of 34,598. Bar Harbor Bankshares has a fifty-two week low of $23.16 and a fifty-two week high of $30.37. The firm has a market capitalization of $397.20 million, a P/E ratio of 9.45 and a beta of 0.73. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 0.98.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. Bar Harbor Bankshares had a return on equity of 10.05% and a net margin of 19.51%. The business had revenue of $36.64 million for the quarter, compared to analyst estimates of $37.10 million. On average, research analysts anticipate that Bar Harbor Bankshares will post 2.75 earnings per share for the current year.

Bar Harbor Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 16th will be paid a dividend of $0.30 per share. This is a positive change from Bar Harbor Bankshares’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, May 15th. This represents a $1.20 annualized dividend and a yield of 4.60%. Bar Harbor Bankshares’s dividend payout ratio is presently 43.64%.

Analysts Set New Price Targets

Several research firms recently commented on BHB. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $28.00 target price (down from $29.00) on shares of Bar Harbor Bankshares in a report on Monday, April 22nd. TheStreet lowered Bar Harbor Bankshares from a “b” rating to a “c+” rating in a report on Monday, March 11th.

Insider Activity at Bar Harbor Bankshares

In other Bar Harbor Bankshares news, Director Scott G. Toothaker purchased 4,476 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was bought at an average cost of $25.82 per share, for a total transaction of $115,570.32. Following the completion of 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 Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 5,412 shares of company stock valued at $138,769 over the last quarter. 2.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bar Harbor Bankshares

Hedge funds have recently bought and sold shares of the company. Brendel Financial Advisors LLC purchased a new stake in Bar Harbor Bankshares during the 4th quarter worth about $371,000. SlateStone Wealth LLC purchased a new stake in Bar Harbor Bankshares during the 4th quarter worth about $220,000. Vanguard Group Inc. increased its holdings in Bar Harbor Bankshares by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 734,214 shares of the financial services provider’s stock worth $17,349,000 after purchasing an additional 9,802 shares during the period. Swiss National Bank increased its holdings in Bar Harbor Bankshares by 2.5% during the 3rd quarter. Swiss National Bank now owns 33,300 shares of the financial services provider’s stock worth $787,000 after purchasing an additional 800 shares during the period. Finally, Sky Investment Group LLC purchased a new stake in Bar Harbor Bankshares during the 4th quarter worth about $238,000. 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.