Bar Harbor Bankshares (NYSEAMERICAN:BHB) Short Interest Update

Bar Harbor Bankshares (NYSEAMERICAN:BHB) was the target of a large growth in short interest in August. As of August 15th, there was short interest totalling 104,800 shares, a growth of 6.0% from the July 31st total of 98,900 shares. Based on an average daily trading volume, of 35,600 shares, the days-to-cover ratio is presently 2.9 days. Approximately 0.7% of the shares of the company are short sold.

Bar Harbor Bankshares Price Performance

Shares of BHB stock opened at $24.81 on Friday. Bar Harbor Bankshares has a 12-month low of $19.55 and a 12-month high of $33.11. The company has a market cap of $376.12 million, a price-to-earnings ratio of 7.85 and a beta of 0.82. The business has a 50 day simple moving average of $28.07. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.01 and a quick ratio of 1.00.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $37.77 million during the quarter, compared to analyst estimates of $36.60 million. Bar Harbor Bankshares had a return on equity of 11.97% and a net margin of 25.17%. On average, equities analysts anticipate that Bar Harbor Bankshares will post 2.88 EPS for the current fiscal year.

Bar Harbor Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.28 per share. The ex-dividend date is Tuesday, August 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.51%. Bar Harbor Bankshares’s dividend payout ratio (DPR) is presently 35.44%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Bar Harbor Bankshares in a report on Wednesday, August 23rd. They issued a “hold” rating for the company.

Institutional Trading of Bar Harbor Bankshares

A number of hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. raised its holdings in shares of Bar Harbor Bankshares by 196.2% during the second quarter. Osaic Holdings Inc. now owns 1,552 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,028 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Bar Harbor Bankshares by 20.2% during the second quarter. Nuveen Asset Management LLC now owns 75,611 shares of the financial services provider’s stock worth $1,863,000 after acquiring an additional 12,697 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Bar Harbor Bankshares by 15.2% during the second quarter. Alliancebernstein L.P. now owns 18,741 shares of the financial services provider’s stock worth $462,000 after acquiring an additional 2,467 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Bar Harbor Bankshares by 48.7% during the second quarter. Wells Fargo & Company MN now owns 9,361 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 3,066 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Bar Harbor Bankshares by 11.5% during the second quarter. Goldman Sachs Group Inc. now owns 25,751 shares of the financial services provider’s stock worth $635,000 after acquiring an additional 2,665 shares in the last quarter. Hedge funds and other institutional investors own 53.62% of the company’s stock.

Bar Harbor Bankshares Company 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.