Northern Trust Corp Acquires 9,635 Shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Northern Trust Corp grew its stake in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,134 shares of the financial services provider's stock after buying an additional 9,635 shares during the period. Northern Trust Corp owned approximately 0.95% of Bar Harbor Bankshares worth $4,438,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of BHB. JPMorgan Chase & Co. lifted its holdings in shares of Bar Harbor Bankshares by 77.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 50,916 shares of the financial services provider's stock valued at $1,570,000 after purchasing an additional 22,212 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Bar Harbor Bankshares by 18.8% during the 4th quarter. SG Americas Securities LLC now owns 11,290 shares of the financial services provider's stock valued at $345,000 after purchasing an additional 1,788 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Bar Harbor Bankshares by 2.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 25,256 shares of the financial services provider's stock valued at $772,000 after purchasing an additional 536 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new position in shares of Bar Harbor Bankshares during the 4th quarter valued at about $242,000. Finally, Hager Investment Management Services LLC bought a new position in shares of Bar Harbor Bankshares during the 4th quarter valued at about $151,000. Institutional investors own 54.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BHB shares. 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 began coverage on shares of Bar Harbor Bankshares in a research report on Saturday, April 26th. They issued a "hold" rating on the stock.

Bar Harbor Bankshares Stock Performance

NYSEAMERICAN BHB traded down $0.08 on Friday, hitting $29.10. 32,570 shares of the stock were exchanged, compared to its average volume of 40,840. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.96 and a quick ratio of 0.96. The business's fifty day moving average is $29.47 and its 200 day moving average is $31.24. Bar Harbor Bankshares has a 52 week low of $24.48 and a 52 week high of $38.47. The company has a market capitalization of $444.36 million, a PE ratio of 10.21 and a beta of 0.72.

Bar Harbor Bankshares Increases Dividend

The business also recently disclosed 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 of this dividend is Thursday, May 15th. This is a positive change from Bar Harbor Bankshares's previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a dividend yield of 4.40%. Bar Harbor Bankshares's dividend payout ratio is presently 42.11%.

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.