StockNews.com assumed coverage on shares of Bar Harbor Bankshares (NYSE:BHB - Free Report) in a research note released on Friday. The brokerage issued a hold rating on the stock.
Bar Harbor Bankshares Trading Down 3.2%
Shares of NYSE BHB opened at $29.51 on Friday. The firm has a market capitalization of $452.00 million, a price-to-earnings ratio of 10.35 and a beta of 0.69. Bar Harbor Bankshares has a one year low of $24.48 and a one year high of $38.47.
Bar Harbor Bankshares Announces Dividend
The firm also recently announced a dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 16th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a dividend yield of 4.15%. Bar Harbor Bankshares's payout ratio is presently 44.91%.
Institutional Investors Weigh In On Bar Harbor Bankshares
A number of hedge funds and other institutional investors have recently made changes to their positions in BHB. Nisa Investment Advisors LLC raised its holdings in Bar Harbor Bankshares by 33.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,713 shares of the company's stock valued at $51,000 after acquiring an additional 430 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Bar Harbor Bankshares during the first quarter worth about $73,000. Hsbc Holdings PLC bought a new position in Bar Harbor Bankshares in the 1st quarter valued at about $214,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Bar Harbor Bankshares by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,945 shares of the company's stock valued at $264,000 after buying an additional 390 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Bar Harbor Bankshares by 36.6% in the 1st quarter. AQR Capital Management LLC now owns 10,964 shares of the company's stock valued at $323,000 after buying an additional 2,939 shares in the last quarter. 54.49% of the stock is currently owned by institutional investors and hedge funds.
Bar Harbor Bankshares Company Profile
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Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides commercial, lending, retail, and wealth management banking services. 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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