Short Interest in Bar Harbor Bankshares (NYSEAMERICAN:BHB) Increases By 88.6%

Bar Harbor Bankshares (NYSEAMERICAN:BHB) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 76,000 shares, a growth of 88.6% from the February 28th total of 40,300 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily volume of 46,500 shares, the short-interest ratio is presently 1.6 days.

Bar Harbor Bankshares Stock Performance

Shares of Bar Harbor Bankshares stock traded down $0.90 on Friday, reaching $29.75. The company had a trading volume of 27,074 shares, compared to its average volume of 40,254. The business has a 50 day simple moving average of $31.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. Bar Harbor Bankshares has a 52-week low of $23.26 and a 52-week high of $38.47. The stock has a market cap of $454.28 million, a price-to-earnings ratio of 10.44 and a beta of 0.72.

Bar Harbor Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 20th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend was Thursday, February 20th. Bar Harbor Bankshares’s dividend payout ratio (DPR) is 42.11%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped their price target on Bar Harbor Bankshares from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, March 17th.

Institutional Investors Weigh In On Bar Harbor Bankshares

A number of institutional investors have recently modified their holdings of the company. State Street Corp increased its stake 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 buying an additional 19,118 shares during the period. Barclays PLC increased its position in shares of Bar Harbor Bankshares by 50.0% during the third quarter. Barclays PLC now owns 49,714 shares of the financial services provider’s stock worth $1,533,000 after acquiring an additional 16,579 shares during the period. Trust Co. of Vermont raised its stake in shares of Bar Harbor Bankshares by 561.1% in the fourth quarter. Trust Co. of Vermont now owns 39,444 shares of the financial services provider’s stock valued at $1,206,000 after acquiring an additional 33,478 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new position in Bar Harbor Bankshares in the fourth quarter valued at $242,000. Finally, JPMorgan Chase & Co. grew its stake in Bar Harbor Bankshares by 77.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,916 shares of the financial services provider’s stock worth $1,570,000 after purchasing an additional 22,212 shares in the last quarter. 54.49% of the stock is 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.