Bar Harbor Bankshares (NYSEAMERICAN:BHB) Share Price Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Bar Harbor Bankshares shares have dropped below their 200-day moving average of $30.24, trading at $28.75, indicating potential concerns about their stock performance.
• The company has recently announced a quarterly dividend of $0.32 per share, representing an annualized dividend of $1.28 and a yield of 4.5%.
• Over 54% of Bar Harbor Bankshares' stock is owned by institutional investors, with significant increases in holdings reported by several firms in the first quarter.

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB - ) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $30.24 and traded as low as $28.66. Bar Harbor Bankshares shares last traded at $28.75, with a volume of 71,107 shares.

Bar Harbor Bankshares Stock Performance

The firm's 50 day moving average is $31.20 and its two-hundred day moving average is $30.24. The stock has a market capitalization of $479.55 million, a PE ratio of 11.14 and a beta of 0.71. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.98 and a current ratio of 0.98.

Bar Harbor Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Thursday, August 14th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Thursday, August 14th. Bar Harbor Bankshares's dividend payout ratio is presently 44.91%.

Institutional Investors Weigh In On Bar Harbor Bankshares

A number of large investors have recently modified their holdings of BHB. SG Americas Securities LLC boosted its holdings in shares of Bar Harbor Bankshares by 183.5% in the 1st quarter. SG Americas Securities LLC now owns 32,007 shares of the financial services provider's stock valued at $944,000 after buying an additional 20,717 shares in the last quarter. Westhampton Capital LLC acquired a new position in shares of Bar Harbor Bankshares in the 1st quarter valued at $318,000. GAMMA Investing LLC boosted its holdings in shares of Bar Harbor Bankshares by 4,202.1% in the 1st quarter. GAMMA Investing LLC now owns 4,130 shares of the financial services provider's stock valued at $122,000 after buying an additional 4,034 shares in the last quarter. Bar Harbor Wealth Management boosted its holdings in shares of Bar Harbor Bankshares by 7.0% in the 1st quarter. Bar Harbor Wealth Management now owns 458,476 shares of the financial services provider's stock valued at $13,525,000 after buying an additional 30,075 shares in the last quarter. Finally, First Bancorp Inc ME boosted its holdings in shares of Bar Harbor Bankshares by 8.9% in the 1st quarter. First Bancorp Inc ME now owns 7,347 shares of the financial services provider's stock valued at $217,000 after buying an additional 603 shares in the last quarter. 54.49% of the stock is owned by hedge funds and other institutional investors.

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.

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