Short Interest in Bar Harbor Bankshares (NYSEAMERICAN:BHB) Expands By 27.5%

Bar Harbor Bankshares (NYSEAMERICAN:BHB - Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 96,900 shares, a growth of 27.5% from the March 15th total of 76,000 shares. Based on an average daily volume of 45,500 shares, the days-to-cover ratio is presently 2.1 days. Currently, 0.7% of the shares of the stock are short sold.

Bar Harbor Bankshares Stock Up 1.7 %

BHB traded up $0.50 during midday trading on Thursday, hitting $29.69. The company had a trading volume of 44,344 shares, compared to its average volume of 41,043. 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 $453.37 million, a price-to-earnings ratio of 10.42 and a beta of 0.72. The stock's 50 day moving average price is $30.16 and its 200 day moving average price is $31.34. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.54.

Bar Harbor Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a $0.32 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.28 annualized dividend and a yield of 4.31%. This is a positive change from Bar Harbor Bankshares's previous quarterly dividend of $0.30. Bar Harbor Bankshares's dividend payout ratio (DPR) is 42.11%.

Institutional Trading of Bar Harbor Bankshares

Hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Partners raised its position in Bar Harbor Bankshares by 74.5% in the fourth quarter. Boston Partners now owns 124,321 shares of the financial services provider's stock worth $3,802,000 after acquiring an additional 53,063 shares during the period. Trust Co. of Vermont lifted its holdings in shares of Bar Harbor Bankshares by 561.1% in the 4th quarter. Trust Co. of Vermont now owns 39,444 shares of the financial services provider's stock worth $1,206,000 after acquiring an additional 33,478 shares during the last quarter. JPMorgan Chase & Co. grew its position in Bar Harbor Bankshares by 59.1% in the 4th quarter. JPMorgan Chase & Co. now owns 81,000 shares of the financial services provider's stock valued at $2,477,000 after acquiring an additional 30,084 shares during the last quarter. Bar Harbor Wealth Management grew its stake in Bar Harbor Bankshares by 7.0% in the first quarter. Bar Harbor Wealth Management now owns 458,476 shares of the financial services provider's stock worth $13,525,000 after purchasing an additional 30,075 shares in the last quarter. Finally, Millennium Management LLC increased its position in Bar Harbor Bankshares by 390.3% during the 4th quarter. Millennium Management LLC now owns 36,146 shares of the financial services provider's stock valued at $1,105,000 after purchasing an additional 28,774 shares during the period. Institutional investors own 54.49% of the company's stock.

Analysts Set New Price Targets

BHB has been the subject of a number of analyst reports. StockNews.com started coverage on Bar Harbor Bankshares in a report on Saturday, April 19th. They set a "hold" rating for the company. Keefe, Bruyette & Woods reduced their target price on Bar Harbor Bankshares from $35.00 to $33.00 and set a "market perform" rating on the stock in a report on Monday.

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.