Millennium Management LLC Raises Stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Millennium Management LLC grew its position in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB - Free Report) by 390.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,146 shares of the financial services provider's stock after purchasing an additional 28,774 shares during the quarter. Millennium Management LLC owned about 0.24% of Bar Harbor Bankshares worth $1,105,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BHB. Steward Partners Investment Advisory LLC grew its position in shares of Bar Harbor Bankshares by 25.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,855 shares of the financial services provider's stock worth $87,000 after buying an additional 576 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Bar Harbor Bankshares during the 4th quarter worth approximately $107,000. Hager Investment Management Services LLC acquired a new stake in shares of Bar Harbor Bankshares during the 4th quarter worth approximately $151,000. New York State Common Retirement Fund grew its position in shares of Bar Harbor Bankshares by 40.4% during the 4th quarter. New York State Common Retirement Fund now owns 5,213 shares of the financial services provider's stock worth $159,000 after buying an additional 1,500 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of Bar Harbor Bankshares during the 4th quarter worth approximately $212,000. Institutional investors own 54.49% of the company's stock.

Bar Harbor Bankshares Stock Up 2.4%

BHB traded up $0.69 during mid-day trading on Friday, reaching $29.16. 31,019 shares of the stock were exchanged, compared to its average volume of 41,239. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $445.27 million, a PE ratio of 10.23 and a beta of 0.72. The company has a 50 day moving average price of $29.24 and a two-hundred day moving average price of $31.15. Bar Harbor Bankshares has a 1 year low of $24.48 and a 1 year high of $38.47.

Bar Harbor Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.39%. This is a boost from Bar Harbor Bankshares's previous quarterly dividend of $0.30. The ex-dividend date is Thursday, May 15th. Bar Harbor Bankshares's dividend payout ratio is 42.11%.

Analyst Upgrades and Downgrades

BHB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods decreased their price target 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 initiated 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 Profile

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.