Bar Harbor Bankshares (NYSEAMERICAN:BHB) Sees Significant Decline in Short Interest

Bar Harbor Bankshares (NYSEAMERICAN:BHB) saw a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 91,100 shares, a decline of 6.1% from the November 15th total of 97,000 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average daily volume of 35,100 shares, the days-to-cover ratio is currently 2.6 days.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of Bar Harbor Bankshares from $30.00 to $34.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler restated a “neutral” rating and issued a $33.00 price objective on shares of Bar Harbor Bankshares in a report on Thursday, September 5th.

Hedge Funds Weigh In On Bar Harbor Bankshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BHB. Barclays PLC boosted its stake in shares of Bar Harbor Bankshares by 50.0% in the 3rd 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 period. Arete Wealth Advisors LLC raised its holdings in Bar Harbor Bankshares by 21.4% in the third quarter. Arete Wealth Advisors LLC now owns 9,615 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 1,694 shares in the last quarter. Geode Capital Management LLC lifted its stake in Bar Harbor Bankshares by 1.1% in the third quarter. Geode Capital Management LLC now owns 335,432 shares of the financial services provider’s stock worth $10,348,000 after acquiring an additional 3,602 shares during the last quarter. State Street Corp grew its holdings in Bar Harbor Bankshares by 5.6% during the 3rd quarter. State Street Corp now owns 362,823 shares of the financial services provider’s stock worth $11,189,000 after acquiring an additional 19,118 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of Bar Harbor Bankshares in the 3rd quarter valued at approximately $203,000. Hedge funds and other institutional investors own 54.49% of the company’s stock.

Bar Harbor Bankshares Trading Down 1.0 %

BHB stock opened at $34.05 on Wednesday. Bar Harbor Bankshares has a 12-month low of $23.26 and a 12-month high of $38.47. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $519.94 million, a P/E ratio of 12.25 and a beta of 0.69.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.12. The company had revenue of $58.23 million for the quarter, compared to analyst estimates of $37.30 million. Bar Harbor Bankshares had a net margin of 18.99% and a return on equity of 9.66%. As a group, equities analysts anticipate that Bar Harbor Bankshares will post 2.82 earnings per share for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.52%. Bar Harbor Bankshares’s dividend payout ratio (DPR) is presently 43.17%.

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.