Bar Harbor Bankshares (NYSEAMERICAN:BHB) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN grew its position in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 71.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,177 shares of the financial services provider’s stock after buying an additional 12,166 shares during the quarter. Wells Fargo & Company MN owned 0.19% of Bar Harbor Bankshares worth $892,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC boosted 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 acquiring an additional 576 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Bar Harbor Bankshares during the 4th quarter worth about $107,000. Hager Investment Management Services LLC acquired a new position in shares of Bar Harbor Bankshares during the 4th quarter worth about $151,000. New York State Common Retirement Fund boosted its position in shares of Bar Harbor Bankshares by 40.4% during the 4th quarter. New York State Common Retirement Fund now owns 5,213 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Bar Harbor Bankshares during the 4th quarter worth about $212,000. 54.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BHB has been the subject of several research reports. StockNews.com initiated coverage on Bar Harbor Bankshares in a report on Saturday, April 26th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods reduced their target price on Bar Harbor Bankshares from $35.00 to $33.00 and set a “market perform” rating for the company in a report on Monday, April 21st.

Bar Harbor Bankshares Price Performance

Shares of NYSEAMERICAN BHB opened at $29.64 on Thursday. The firm has a market capitalization of $452.60 million, a P/E ratio of 10.40 and a beta of 0.72. Bar Harbor Bankshares has a one year low of $24.48 and a one year high of $38.47. The company’s fifty day moving average is $29.91 and its two-hundred day moving average is $31.29. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 0.96.

Bar Harbor Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be given a $0.32 dividend. The ex-dividend date is Thursday, May 15th. This is a positive change from Bar Harbor Bankshares’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a dividend yield of 4.32%. Bar Harbor Bankshares’s payout ratio is currently 42.11%.

Bar Harbor Bankshares 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.