Bar Harbor Bankshares (NYSEAMERICAN:BHB) Short Interest Down 6.1% in November

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

Bar Harbor Bankshares Stock Performance

Shares of BHB stock traded down $0.41 during midday trading on Tuesday, hitting $33.99. 7,698 shares of the company were exchanged, compared to its average volume of 36,725. Bar Harbor Bankshares has a 52 week low of $23.26 and a 52 week high of $38.47. The company has a market capitalization of $519.03 million, a price-to-earnings ratio of 12.36 and a beta of 0.69. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 0.96.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $37.30 million. Bar Harbor Bankshares had a return on equity of 9.66% and a net margin of 18.99%. On average, sell-side analysts predict that Bar Harbor Bankshares will post 2.82 earnings per share for the current year.

Bar Harbor Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.53%. The ex-dividend date was Thursday, November 14th. Bar Harbor Bankshares’s payout ratio is 43.17%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Piper Sandler reissued a “neutral” rating and set a $33.00 price target on shares of Bar Harbor Bankshares in a research report on Thursday, September 5th. Keefe, Bruyette & Woods raised their price objective on 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.

Institutional Investors Weigh In On Bar Harbor Bankshares

Institutional investors have recently modified their holdings of the business. SlateStone Wealth LLC bought a new stake in shares of Bar Harbor Bankshares during the 2nd quarter valued at $201,000. Janus Henderson Group PLC acquired a new position in Bar Harbor Bankshares during the third quarter valued at approximately $203,000. Camden National Bank bought a new stake in Bar Harbor Bankshares during the third quarter worth $214,000. Moors & Cabot Inc. acquired a new stake in shares of Bar Harbor Bankshares in the 3rd quarter valued at $214,000. Finally, Sky Investment Group LLC bought a new position in shares of Bar Harbor Bankshares in the 3rd quarter valued at $216,000. 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.