JPMorgan Chase & Co. Increases Position in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

JPMorgan Chase & Co. boosted its position in Bar Harbor Bankshares (NYSEAMERICAN:BHB - Free Report) by 59.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 81,000 shares of the financial services provider's stock after acquiring an additional 30,084 shares during the period. JPMorgan Chase & Co. owned 0.53% of Bar Harbor Bankshares worth $2,477,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its stake in Bar Harbor Bankshares by 25.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,855 shares of the financial services provider's stock valued at $87,000 after acquiring an additional 576 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Bar Harbor Bankshares during the 4th quarter valued at about $107,000. Hager Investment Management Services LLC purchased a new position in Bar Harbor Bankshares during the 4th quarter valued at about $151,000. New York State Common Retirement Fund grew its holdings in Bar Harbor Bankshares by 40.4% during the 4th quarter. New York State Common Retirement Fund now owns 5,213 shares of the financial services provider's stock valued at $159,000 after buying an additional 1,500 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in Bar Harbor Bankshares during the 4th quarter valued at about $212,000. 54.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on BHB shares. Keefe, Bruyette & Woods reduced their target price on Bar Harbor Bankshares from $35.00 to $33.00 and set a "market perform" rating for the company in a report on Monday, April 21st. StockNews.com started coverage on Bar Harbor Bankshares in a report on Saturday. They set a "hold" rating for the company.

Bar Harbor Bankshares Trading Up 1.0 %

NYSEAMERICAN:BHB traded up $0.28 during trading hours on Tuesday, reaching $29.54. The company's stock had a trading volume of 47,355 shares, compared to its average volume of 41,230. The firm has a market capitalization of $451.08 million, a price-to-earnings ratio of 10.36 and a beta of 0.72. The firm has a 50-day simple moving average of $29.96 and a 200-day simple moving average of $31.30. Bar Harbor Bankshares has a 1 year low of $24.48 and a 1 year high of $38.47. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a $0.32 dividend. This is a boost from Bar Harbor Bankshares's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.33%. Bar Harbor Bankshares's payout ratio is presently 42.11%.

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.