Bar Harbor Bankshares (NYSEAMERICAN:BHB) Shares Bought by Millennium Management LLC

Millennium Management LLC increased its position in Bar Harbor Bankshares (NYSEAMERICAN:BHB - Free Report) by 390.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 approximately 0.24% of Bar Harbor Bankshares worth $1,105,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BHB. Janney Montgomery Scott LLC boosted its holdings in shares of Bar Harbor Bankshares by 2.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 25,256 shares of the financial services provider's stock valued at $772,000 after buying an additional 536 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in Bar Harbor Bankshares in the fourth quarter valued at approximately $151,000. Empowered Funds LLC boosted its stake in Bar Harbor Bankshares by 4.9% in the fourth quarter. Empowered Funds LLC now owns 45,790 shares of the financial services provider's stock valued at $1,400,000 after acquiring an additional 2,157 shares in the last quarter. Polaris Capital Management LLC grew its holdings in Bar Harbor Bankshares by 15.2% in the fourth quarter. Polaris Capital Management LLC now owns 50,000 shares of the financial services provider's stock worth $1,529,000 after purchasing an additional 6,600 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in Bar Harbor Bankshares by 40.4% in the fourth quarter. New York State Common Retirement Fund now owns 5,213 shares of the financial services provider's stock worth $159,000 after purchasing an additional 1,500 shares during the last quarter. 54.49% of the stock is currently owned by hedge funds and other institutional investors.

Bar Harbor Bankshares Stock Performance

Bar Harbor Bankshares stock traded up $0.69 during mid-day trading on Friday, reaching $29.16. 31,019 shares of the company traded hands, compared to its average volume of 41,076. The firm's fifty day moving average is $29.26 and its two-hundred day moving average is $31.16. The company has a market capitalization of $445.27 million, a price-to-earnings ratio of 10.23 and a beta of 0.72. Bar Harbor Bankshares has a fifty-two week low of $24.48 and a fifty-two week high of $38.47. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.96 and a quick ratio of 0.96.

Bar Harbor Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Thursday, May 15th. This is an increase from Bar Harbor Bankshares's previous quarterly dividend of $0.30. Bar Harbor Bankshares's payout ratio is presently 42.11%.

Analysts Set New Price Targets

BHB has been the subject of a number of recent analyst reports. Wall Street Zen assumed coverage on Bar Harbor Bankshares in a research report on Saturday, April 26th. They issued a "hold" rating for the company. Keefe, Bruyette & Woods decreased their price target on 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.

Bar Harbor Bankshares Company 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.