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

Key Points

• Bar Harbor Bankshares' stock price fell below its 200-day moving average during trading, reaching a low of $29.05 before closing at $30.36.
• Equity analysts have mixed views, with Wall Street Zen issuing a "hold" rating and Keefe, Bruyette & Woods lowering their price target from $35.00 to $33.00.
• Institutional investors are actively managing their positions in Bar Harbor Bankshares, with several funds increasing their stakes in the company during the first quarter.

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB - Get Free Report)'s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $30.29 and traded as low as $29.05. Bar Harbor Bankshares shares last traded at $30.36, with a volume of 62,224 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wall Street Zen assumed coverage on Bar Harbor Bankshares in a research report on Saturday, April 26th. They issued a "hold" rating on the stock. Keefe, Bruyette & Woods lowered their price objective on Bar Harbor Bankshares from $35.00 to $33.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st.

Bar Harbor Bankshares Stock Performance

The company has a market capitalization of $465.12 million, a P/E ratio of 11.77 and a beta of 0.69. The business has a 50 day moving average of $30.08 and a 200 day moving average of $30.29. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.51.

Hedge Funds Weigh In On Bar Harbor Bankshares

Several institutional investors have recently added to or reduced their stakes in BHB. Trust Co. of Vermont increased its stake in Bar Harbor Bankshares by 10.9% during the first quarter. Trust Co. of Vermont now owns 43,726 shares of the financial services provider's stock worth $1,290,000 after acquiring an additional 4,282 shares during the last quarter. First Bancorp Inc ME increased its stake in Bar Harbor Bankshares by 8.9% during the first quarter. First Bancorp Inc ME now owns 7,347 shares of the financial services provider's stock worth $217,000 after acquiring an additional 603 shares during the last quarter. Westhampton Capital LLC bought a new stake in Bar Harbor Bankshares during the first quarter worth approximately $318,000. Bar Harbor Wealth Management increased its stake in Bar Harbor Bankshares by 7.0% during the first quarter. Bar Harbor Wealth Management now owns 458,476 shares of the financial services provider's stock worth $13,525,000 after acquiring an additional 30,075 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in Bar Harbor Bankshares by 183.5% during the first quarter. SG Americas Securities LLC now owns 32,007 shares of the financial services provider's stock worth $944,000 after acquiring an additional 20,717 shares during the last quarter. Hedge funds and other 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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