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

Key Points

• Bar Harbor Bankshares' stock has dropped below its 200-day moving average, with the last trading price at $30.57, down 0.5% from the previous day.
• Analysts have rated Bar Harbor Bankshares stock as a "hold," with a consensus target price of $33.00.
• Institutional investors have increased their stakes in the company, with notable growth from GAMMA Investing LLC, which raised its holdings by 4,202.1% during the first quarter.

Shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $30.30 and traded as low as $30.06. Bar Harbor Bankshares shares last traded at $30.57, with a volume of 23,959 shares trading hands.

Bar Harbor Bankshares Price Performance

The stock's fifty day moving average price is $30.75 and its 200-day moving average price is $30.33. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $539.26 million, a price-to-earnings ratio of 12.53 and a beta of 0.69.

Hedge Funds Weigh In On Bar Harbor Bankshares

Several large investors have recently bought and sold shares of BHB. GAMMA Investing LLC raised its stake 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. First Bancorp Inc ME increased its position in 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 acquiring an additional 603 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Bar Harbor Bankshares by 6.7% in the 4th quarter. LPL Financial LLC now owns 8,162 shares of the financial services provider's stock valued at $250,000 after purchasing an additional 509 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Bar Harbor Bankshares by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,555 shares of the financial services provider's stock valued at $262,000 after purchasing an additional 380 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Bar Harbor Bankshares by 56.1% in the 4th quarter. Deutsche Bank AG now owns 9,759 shares of the financial services provider's stock valued at $298,000 after purchasing an additional 3,507 shares during the last quarter. 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.