Bar Harbor Wealth Management Has $13.53 Million Stock Holdings in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Bar Harbor Wealth Management increased its stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 458,476 shares of the financial services provider's stock after buying an additional 30,075 shares during the quarter. Bar Harbor Wealth Management owned approximately 3.00% of Bar Harbor Bankshares worth $13,525,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in BHB. Steward Partners Investment Advisory LLC lifted its holdings in 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 valued at $87,000 after purchasing an additional 576 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Bar Harbor Bankshares during the 4th quarter valued at $107,000. GAMMA Investing LLC lifted its holdings in Bar Harbor Bankshares by 4,202.1% during the 1st quarter. GAMMA Investing LLC now owns 4,130 shares of the financial services provider's stock valued at $122,000 after purchasing an additional 4,034 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in 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 valued at $159,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Bar Harbor Bankshares during the fourth quarter worth $212,000. Institutional investors and hedge funds own 54.49% of the company's stock.

Bar Harbor Bankshares Price Performance

Shares of Bar Harbor Bankshares stock traded down $0.70 during midday trading on Friday, hitting $28.83. 49,798 shares of the company traded hands, compared to its average volume of 41,478. The firm's fifty day moving average price is $29.33 and its 200-day moving average price is $31.13. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 0.96. Bar Harbor Bankshares has a 12 month low of $24.48 and a 12 month high of $38.47. The stock has a market cap of $440.23 million, a price-to-earnings ratio of 10.12 and a beta of 0.72.

Bar Harbor Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be given a $0.32 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.44%. This is an increase from Bar Harbor Bankshares's previous quarterly dividend of $0.30. Bar Harbor Bankshares's payout ratio is 42.11%.

Wall Street Analysts Forecast Growth

BHB has been the topic of several research reports. Wall Street Zen started coverage on shares of Bar Harbor Bankshares in a research note on Saturday, April 26th. They issued a "hold" rating on the stock. Keefe, Bruyette & Woods dropped their price objective 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.

About Bar Harbor Bankshares

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.