Bar Harbor Bankshares (NYSEAMERICAN:BHB) Shares Acquired by Bar Harbor Wealth Management

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Empowered Funds LLC boosted its stake in shares of Bar Harbor Bankshares by 4.9% in the 4th quarter. Empowered Funds LLC now owns 45,790 shares of the financial services provider's stock worth $1,400,000 after buying an additional 2,157 shares during the last quarter. New York State Common Retirement Fund boosted its position 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. Steward Partners Investment Advisory LLC grew its stake in Bar Harbor Bankshares by 25.3% in 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 period. Charles Schwab Investment Management Inc. increased its position in shares of Bar Harbor Bankshares by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 42,132 shares of the financial services provider's stock valued at $1,288,000 after purchasing an additional 943 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Bar Harbor Bankshares by 104.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,219 shares of the financial services provider's stock valued at $710,000 after purchasing an additional 11,868 shares during the last quarter. 54.49% of the stock is owned by institutional investors and hedge funds.

Bar Harbor Bankshares Stock Performance

BHB traded down $0.13 during midday trading on Monday, hitting $28.70. 35,089 shares of the company were exchanged, compared to its average volume of 41,496. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The company's 50 day simple moving average is $29.35 and its 200 day simple moving average is $31.13. Bar Harbor Bankshares has a 1-year low of $24.48 and a 1-year high of $38.47. The firm has a market capitalization of $438.25 million, a price-to-earnings ratio of 10.07 and a beta of 0.72.

Bar Harbor Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.46%. This is a positive change from Bar Harbor Bankshares's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, May 15th. Bar Harbor Bankshares's dividend payout ratio is presently 42.11%.

Analysts Set New Price Targets

BHB has been the subject of several research reports. Wall Street Zen started coverage on shares of Bar Harbor Bankshares in a research report on Saturday, April 26th. They issued a "hold" rating for the company. Keefe, Bruyette & Woods cut their price objective on Bar Harbor Bankshares from $35.00 to $33.00 and set a "market perform" rating for the company in a report on Monday, April 21st.

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.