Bar Harbor Bankshares (NYSE:BHB) Trading 0.6% Higher - Here's Why

Bar Harbor Bankshares (NYSE:BHB - Get Free Report) rose 0.6% during mid-day trading on Wednesday . The stock traded as high as $32.14 and last traded at $32.06. Approximately 26,320 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 43,019 shares. The stock had previously closed at $31.88.

Analyst Ratings Changes

Separately, Wall Street Zen initiated coverage on shares of Bar Harbor Bankshares in a report on Friday, May 16th. They issued a "hold" rating on the stock.

Bar Harbor Bankshares Stock Down 2.1%

The company has a market capitalization of $481.57 million, a PE ratio of 11.03 and a beta of 0.65. The company's fifty day simple moving average is $29.94.

Bar Harbor Bankshares Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 16th were issued a dividend of $0.32 per share. This represents a dividend yield of 4.15%. The ex-dividend date of this dividend was Thursday, May 15th. Bar Harbor Bankshares's dividend payout ratio (DPR) is presently 44.91%.

Institutional Investors Weigh In On Bar Harbor Bankshares

Large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Bar Harbor Bankshares by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,945 shares of the company's stock valued at $264,000 after purchasing an additional 390 shares during the period. Nisa Investment Advisors LLC lifted its position in Bar Harbor Bankshares by 33.5% during the first quarter. Nisa Investment Advisors LLC now owns 1,713 shares of the company's stock valued at $51,000 after purchasing an additional 430 shares during the period. Acadian Asset Management LLC acquired a new position in Bar Harbor Bankshares during the first quarter valued at $73,000. AQR Capital Management LLC lifted its position in Bar Harbor Bankshares by 36.6% during the first quarter. AQR Capital Management LLC now owns 10,964 shares of the company's stock valued at $323,000 after purchasing an additional 2,939 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Bar Harbor Bankshares by 13.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,291 shares of the company's stock worth $776,000 after acquiring an additional 3,072 shares during the period. 54.49% of the stock is owned by hedge funds and other institutional investors.

Bar Harbor Bankshares Company Profile

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.