Bar Harbor Bankshares (NYSEAMERICAN:BHB) Stock Price Crosses Below 200-Day Moving Average - Should You Sell?

Key Points

• Bar Harbor Bankshares' shares fell below their 200-day moving average of $30.66, closing at $30.35 after trading as low as $29.80.
• Analysts have revised their price targets, with Keefe, Bruyette & Woods lowering their target from $35.00 to $33.00 and categorizing the stock as a "market perform."
• Institutional investors are increasing their holdings in Bar Harbor Bankshares, with SG Americas Securities LLC boosting its stake by 183.5% in the latest quarter.

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB - Get Free Report) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $30.66 and traded as low as $29.80. Bar Harbor Bankshares shares last traded at $30.35, with a volume of 31,541 shares traded.

Analyst Upgrades and Downgrades

Several research firms have commented on BHB. Keefe, Bruyette & Woods lowered their target price on shares of Bar Harbor Bankshares from $35.00 to $33.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Wall Street Zen assumed coverage on shares of Bar Harbor Bankshares in a research note on Saturday, April 26th. They set a "hold" rating for the company.

Bar Harbor Bankshares Stock Performance

The company has a market capitalization of $467.64 million, a P/E ratio of 11.83 and a beta of 0.65. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.51. The stock's 50-day moving average price is $30.09 and its 200-day moving average price is $30.54.

Institutional Trading of Bar Harbor Bankshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 buying an additional 380 shares in the last quarter. LPL Financial LLC boosted its position in Bar Harbor Bankshares by 6.7% in the fourth quarter. LPL Financial LLC now owns 8,162 shares of the financial services provider's stock valued at $250,000 after buying an additional 509 shares in the last quarter. First Bancorp Inc ME boosted its stake in shares of 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 valued at $217,000 after purchasing an additional 603 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Bar Harbor Bankshares by 1.2% during the 4th quarter. Renaissance Technologies LLC now owns 84,684 shares of the financial services provider's stock worth $2,590,000 after buying an additional 1,000 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in Bar Harbor Bankshares by 5.5% in the fourth quarter. Two Sigma Advisers LP now owns 22,900 shares of the financial services provider's stock valued at $700,000 after buying an additional 1,200 shares during the period. 54.49% of the stock is currently owned by institutional investors.

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.