Short Interest in Bar Harbor Bankshares (NYSEAMERICAN:BHB) Declines By 8.0%

Bar Harbor Bankshares (NYSEAMERICAN:BHBGet Rating) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 150,200 shares, a decrease of 8.0% from the August 15th total of 163,200 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily volume of 21,300 shares, the days-to-cover ratio is currently 7.1 days.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Bar Harbor Bankshares from a “hold” rating to a “buy” rating in a research report on Friday, September 9th.

Bar Harbor Bankshares Price Performance

BHB stock opened at $29.34 on Tuesday. The company has a market cap of $440.48 million, a PE ratio of 10.95 and a beta of 0.86. The stock’s 50-day moving average is $28.32. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.45. Bar Harbor Bankshares has a 1 year low of $24.00 and a 1 year high of $32.94.

Bar Harbor Bankshares (NYSEAMERICAN:BHBGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. Bar Harbor Bankshares had a net margin of 26.67% and a return on equity of 10.00%. The business had revenue of $35.48 million for the quarter, compared to analysts’ expectations of $35.20 million. On average, analysts anticipate that Bar Harbor Bankshares will post 2.81 earnings per share for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Tuesday, August 16th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 15th. This represents a $1.04 annualized dividend and a yield of 3.54%. Bar Harbor Bankshares’s payout ratio is 38.81%.

Hedge Funds Weigh In On Bar Harbor Bankshares

Several large investors have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can lifted its position in Bar Harbor Bankshares by 65.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 998 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 395 shares in the last quarter. Cornercap Investment Counsel Inc. lifted its position in shares of Bar Harbor Bankshares by 2.0% during the 1st quarter. Cornercap Investment Counsel Inc. now owns 27,166 shares of the financial services provider’s stock worth $777,000 after buying an additional 531 shares in the last quarter. Strs Ohio lifted its position in shares of Bar Harbor Bankshares by 6.5% during the 2nd quarter. Strs Ohio now owns 9,800 shares of the financial services provider’s stock worth $253,000 after buying an additional 600 shares in the last quarter. Cornerstone Advisory LLC bought a new position in shares of Bar Harbor Bankshares during the 4th quarter worth approximately $29,000. Finally, Means Investment CO. Inc. lifted its position in shares of Bar Harbor Bankshares by 1.5% during the 2nd quarter. Means Investment CO. Inc. now owns 74,085 shares of the financial services provider’s stock worth $1,916,000 after buying an additional 1,110 shares in the last quarter. Institutional investors own 57.01% of the company’s stock.

About Bar Harbor Bankshares

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Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides commercial, lending, retail, and wealth management banking services. 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.

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