Bar Harbor Bankshares (NYSEAMERICAN:BHB) Given New $33.00 Price Target at Keefe, Bruyette & Woods

Bar Harbor Bankshares (NYSEAMERICAN:BHB) had its price objective lowered by Keefe, Bruyette & Woods from $35.00 to $33.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

Separately, StockNews.com initiated coverage on shares of Bar Harbor Bankshares in a report on Saturday. They set a “hold” rating for the company.

Bar Harbor Bankshares Stock Performance

Shares of NYSEAMERICAN:BHB opened at $28.05 on Monday. The stock has a market capitalization of $428.32 million, a price-to-earnings ratio of 9.84 and a beta of 0.72. The business’s fifty day moving average price is $30.34 and its two-hundred day moving average price is $31.35. 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 debt-to-equity ratio of 0.54, a current ratio of 0.96 and a quick ratio of 0.96.

Bar Harbor Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a $0.32 dividend. This is a boost from Bar Harbor Bankshares’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend is Thursday, May 15th. Bar Harbor Bankshares’s dividend payout ratio (DPR) is 42.11%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Bar Harbor Bankshares by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,555 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 380 shares during the last quarter. LPL Financial LLC increased its holdings in Bar Harbor Bankshares by 6.7% in the fourth quarter. LPL Financial LLC now owns 8,162 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 509 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Bar Harbor Bankshares by 2.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 25,256 shares of the financial services provider’s stock valued at $772,000 after buying an additional 536 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of Bar Harbor Bankshares by 25.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,855 shares of the financial services provider’s stock worth $87,000 after buying an additional 576 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Bar Harbor Bankshares by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 42,132 shares of the financial services provider’s stock valued at $1,288,000 after acquiring an additional 943 shares during the last quarter. Institutional investors own 54.49% 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.