State Board of Administration of Florida Retirement System Has $350,000 Position in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

State Board of Administration of Florida Retirement System grew its stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB – Get Rating) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,927 shares of the financial services provider’s stock after buying an additional 460 shares during the period. State Board of Administration of Florida Retirement System owned 0.07% of Bar Harbor Bankshares worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BHB. Great West Life Assurance Co. Can acquired a new stake in Bar Harbor Bankshares during the 3rd quarter worth about $26,000. Lazard Asset Management LLC acquired a new stake in Bar Harbor Bankshares during the third quarter worth approximately $50,000. Captrust Financial Advisors increased its holdings in Bar Harbor Bankshares by 172.7% in the second quarter. Captrust Financial Advisors now owns 4,211 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 2,667 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Bar Harbor Bankshares by 56.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,777 shares of the financial services provider’s stock valued at $124,000 after buying an additional 1,715 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Bar Harbor Bankshares by 9.0% during the 4th quarter. SG Americas Securities LLC now owns 5,024 shares of the financial services provider’s stock worth $161,000 after buying an additional 413 shares in the last quarter. 52.24% of the stock is currently owned by institutional investors.

Bar Harbor Bankshares Price Performance

Shares of BHB opened at $24.07 on Friday. Bar Harbor Bankshares has a one year low of $19.55 and a one year high of $33.11. The firm has a market cap of $364.42 million, a P/E ratio of 7.64 and a beta of 0.80. The company has a 50-day moving average price of $29.42. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.98 and a current ratio of 0.98.

Bar Harbor Bankshares (NYSEAMERICAN:BHB – Get Rating) last announced its quarterly earnings results on Thursday, April 20th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $40.09 million for the quarter, compared to analyst estimates of $40.30 million. Bar Harbor Bankshares had a return on equity of 12.04% and a net margin of 27.03%. Analysts expect that Bar Harbor Bankshares will post 2.99 EPS for the current fiscal year.

Bar Harbor Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Tuesday, May 16th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date is Monday, May 15th. This is a positive change from Bar Harbor Bankshares’s previous quarterly dividend of $0.26. Bar Harbor Bankshares’s payout ratio is 33.02%.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Bar Harbor Bankshares in a research note on Thursday. They issued a “hold” rating for the company.

Bar Harbor Bankshares Company Profile

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Bar Harbor Bankshares operates through its subsidiaries, which engages in the provision of commercial, retail, and wealth management banking services. It includes lending activities, acceptance of demand, savings and time deposits, business services, investment management, and trust and third-party brokerage services.