Alliancebernstein L.P. Lowers Stock Position in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Alliancebernstein L.P. decreased its holdings in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,318 shares of the financial services provider’s stock after selling 370 shares during the quarter. Alliancebernstein L.P. owned about 0.07% of Bar Harbor Bankshares worth $346,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LPL Financial LLC increased its stake in Bar Harbor Bankshares by 6.7% in the 4th quarter. LPL Financial LLC now owns 8,162 shares of the financial services provider’s stock valued at $250,000 after buying an additional 509 shares during the period. Janney Montgomery Scott LLC raised its holdings in Bar Harbor Bankshares by 2.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 25,256 shares of the financial services provider’s stock worth $772,000 after purchasing an additional 536 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Bar Harbor Bankshares by 25.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,855 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 576 shares during the period. Charles Schwab Investment Management Inc. increased its position in Bar Harbor Bankshares by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 42,132 shares of the financial services provider’s stock worth $1,288,000 after purchasing an additional 943 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in shares of Bar Harbor Bankshares by 5.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 24,388 shares of the financial services provider’s stock worth $746,000 after buying an additional 1,369 shares in the last quarter. 54.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods cut their price objective on Bar Harbor Bankshares from $35.00 to $33.00 and set a “market perform” rating for the company in a research report on Monday. StockNews.com began coverage on shares of Bar Harbor Bankshares in a report on Saturday. They set a “hold” rating on the stock.

Bar Harbor Bankshares Trading Down 3.2 %

Shares of BHB stock opened at $28.05 on Tuesday. Bar Harbor Bankshares has a fifty-two week low of $24.48 and a fifty-two week high of $38.47. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $30.34 and a 200-day simple moving average of $31.35. The stock has a market cap of $428.32 million, a P/E ratio of 9.84 and a beta of 0.72.

Bar Harbor Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a $0.32 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.28 dividend on an annualized basis and a yield of 4.56%. This is a positive change from Bar Harbor Bankshares’s previous quarterly dividend of $0.30. Bar Harbor Bankshares’s dividend payout ratio is presently 42.11%.

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.