Short Interest in Bar Harbor Bankshares (NYSEAMERICAN:BHB) Declines By 6.1%

Bar Harbor Bankshares (NYSEAMERICAN:BHB) was the target of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 91,100 shares, a decline of 6.1% from the November 15th total of 97,000 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average trading volume of 35,100 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BHB. Bank of New York Mellon Corp lifted its holdings in Bar Harbor Bankshares by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 94,240 shares of the financial services provider’s stock worth $2,533,000 after buying an additional 3,202 shares in the last quarter. Bailard Inc. lifted its holdings in Bar Harbor Bankshares by 118.3% during the 2nd quarter. Bailard Inc. now owns 18,821 shares of the financial services provider’s stock worth $506,000 after buying an additional 10,200 shares in the last quarter. SlateStone Wealth LLC acquired a new position in Bar Harbor Bankshares during the 2nd quarter worth $201,000. American Century Companies Inc. lifted its holdings in Bar Harbor Bankshares by 23.7% during the 2nd quarter. American Century Companies Inc. now owns 213,136 shares of the financial services provider’s stock worth $5,729,000 after buying an additional 40,891 shares in the last quarter. Finally, Prosperity Consulting Group LLC raised its position in shares of Bar Harbor Bankshares by 34.8% during the 2nd quarter. Prosperity Consulting Group LLC now owns 14,689 shares of the financial services provider’s stock valued at $395,000 after acquiring an additional 3,790 shares during the last quarter. 54.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on BHB shares. Piper Sandler reaffirmed a “neutral” rating and issued a $33.00 target price on shares of Bar Harbor Bankshares in a research report on Thursday, September 5th. Keefe, Bruyette & Woods raised their target price on Bar Harbor Bankshares from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Bar Harbor Bankshares Trading Down 1.6 %

BHB traded down $0.55 on Tuesday, hitting $33.85. 13,007 shares of the stock traded hands, compared to its average volume of 36,752. Bar Harbor Bankshares has a 52 week low of $23.26 and a 52 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 firm has a market capitalization of $516.89 million, a price-to-earnings ratio of 12.23 and a beta of 0.69.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.12. The company had revenue of $58.23 million for the quarter, compared to the consensus estimate of $37.30 million. Bar Harbor Bankshares had a return on equity of 9.66% and a net margin of 18.99%. As a group, research analysts predict that Bar Harbor Bankshares will post 2.82 earnings per share for the current year.

Bar Harbor Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Thursday, November 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Thursday, November 14th. Bar Harbor Bankshares’s payout ratio is currently 43.17%.

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.