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

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $31.28 and traded as low as $30.24. Bar Harbor Bankshares shares last traded at $30.49, with a volume of 19,139 shares trading hands.

Wall Street Analysts Forecast Growth

BHB has been the topic of a number of research reports. Keefe, Bruyette & Woods cut their target price on shares of 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. Wall Street Zen began coverage on shares of Bar Harbor Bankshares in a report on Saturday, April 26th. They issued a "hold" rating on the stock.

Bar Harbor Bankshares Trading Down 0.3%

The stock has a market cap of $444.36 million, a price-to-earnings ratio of 10.21 and a beta of 0.72. The business's 50 day simple moving average is $29.47 and its 200 day simple moving average is $31.24. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.54.

Bar Harbor Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, May 15th. This is a boost from Bar Harbor Bankshares's previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 4.40%. Bar Harbor Bankshares's dividend payout ratio is presently 42.11%.

Institutional Investors Weigh In On Bar Harbor Bankshares

Hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC raised its position in Bar Harbor Bankshares by 25.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,855 shares of the financial services provider's stock valued at $87,000 after purchasing an additional 576 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Bar Harbor Bankshares in the fourth quarter valued at approximately $107,000. GAMMA Investing LLC raised its holdings in 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 during the last quarter. Hager Investment Management Services LLC bought a new position in Bar Harbor Bankshares in the 4th quarter valued at approximately $151,000. Finally, New York State Common Retirement Fund boosted its position 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 worth $159,000 after buying an additional 1,500 shares during the period. 54.49% of the stock is currently 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.