Bar Harbor Bankshares (NYSEAMERICAN:BHB) Shares Cross Below 200-Day Moving Average - What's Next?

Key Points

• Bar Harbor Bankshares shares dropped below their 200-day moving average, which is currently at $30.24, trading as low as $28.76 on the recent trading day.
• Institutional investors have shown increased interest in the company, with notable increases in holdings from GAMMA Investing LLC (up 4,202.1%) and Trust Co. of Vermont (up 10.9%) during the 1st quarter.
• The company has a market cap of $490.89 million and a P/E ratio of 11.41, indicating its valuation relative to earnings.

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB - ) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.24 and traded as low as $28.76. Bar Harbor Bankshares shares last traded at $29.43, with a volume of 40,918 shares trading hands.

Bar Harbor Bankshares Stock Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.98 and a current ratio of 0.98. The stock's 50-day moving average is $31.10 and its 200 day moving average is $30.24. The firm has a market cap of $490.89 million, a P/E ratio of 11.41 and a beta of 0.71.

Hedge Funds Weigh In On Bar Harbor Bankshares

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Bar Harbor Bankshares by 4,202.1% during the 1st quarter. GAMMA Investing LLC now owns 4,130 shares of the financial services provider's stock worth $122,000 after purchasing an additional 4,034 shares in the last quarter. First Bancorp Inc ME increased its holdings in Bar Harbor Bankshares by 8.9% during the 1st quarter. First Bancorp Inc ME now owns 7,347 shares of the financial services provider's stock worth $217,000 after purchasing an additional 603 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in shares of Bar Harbor Bankshares by 10.9% during the 1st quarter. Trust Co. of Vermont now owns 43,726 shares of the financial services provider's stock worth $1,290,000 after buying an additional 4,282 shares during the last quarter. 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.

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