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Bar Harbor Bankshares (NYSE:BHB) Trading Up 0.6% - Time to Buy?

Bar Harbor Bankshares logo with Financial Services background

Bar Harbor Bankshares (NYSE:BHB - Get Free Report)'s stock price shot up 0.6% on Wednesday . The company traded as high as $32.14 and last traded at $32.06. 26,320 shares traded hands during trading, a decline of 39% from the average session volume of 43,019 shares. The stock had previously closed at $31.88.

Analysts Set New Price Targets

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

Check Out Our Latest Analysis on Bar Harbor Bankshares

Bar Harbor Bankshares Trading Down 1.3%

The stock has a market cap of $485.24 million, a P/E ratio of 11.12 and a beta of 0.65. The stock has a 50-day simple moving average of $29.92.

Bar Harbor Bankshares Announces Dividend

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

Hedge Funds Weigh In On Bar Harbor Bankshares

A number of large investors have recently made changes to their positions in BHB. Nisa Investment Advisors LLC grew its stake 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 during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Bar Harbor Bankshares during the first quarter worth about $73,000. Hsbc Holdings PLC purchased a new stake in shares of Bar Harbor Bankshares during the first quarter worth about $214,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 worth $264,000 after buying an additional 390 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Bar Harbor Bankshares by 36.6% during the first quarter. AQR Capital Management LLC now owns 10,964 shares of the company's stock worth $323,000 after buying an additional 2,939 shares in the last quarter. Hedge funds and other institutional investors own 54.49% of the company's stock.

Bar Harbor Bankshares Company Profile

(Get Free Report)

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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