Meritage Portfolio Management purchased a new stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 8,523 shares of the financial services provider’s stock, valued at approximately $250,000. Meritage Portfolio Management owned about 0.06% of Bar Harbor Bankshares at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brendel Financial Advisors LLC purchased a new stake in shares of Bar Harbor Bankshares in the fourth quarter valued at $371,000. SlateStone Wealth LLC purchased a new stake in Bar Harbor Bankshares in the 4th quarter worth about $220,000. Vanguard Group Inc. lifted its stake in Bar Harbor Bankshares by 1.4% in the third quarter. Vanguard Group Inc. now owns 734,214 shares of the financial services provider’s stock worth $17,349,000 after purchasing an additional 9,802 shares during the last quarter. Swiss National Bank boosted its position in shares of Bar Harbor Bankshares by 2.5% during the third quarter. Swiss National Bank now owns 33,300 shares of the financial services provider’s stock valued at $787,000 after buying an additional 800 shares during the period. Finally, Sky Investment Group LLC bought a new position in shares of Bar Harbor Bankshares during the fourth quarter valued at approximately $238,000. Hedge funds and other institutional investors own 54.49% of the company’s stock.
Bar Harbor Bankshares Trading Down 0.5 %
Shares of Bar Harbor Bankshares stock opened at $25.51 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The stock has a market cap of $387.50 million, a price-to-earnings ratio of 9.22 and a beta of 0.74. Bar Harbor Bankshares has a 1 year low of $19.55 and a 1 year high of $30.37.
Bar Harbor Bankshares Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.70%. This is a positive change from Bar Harbor Bankshares’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, May 15th. Bar Harbor Bankshares’s payout ratio is presently 40.73%.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. TheStreet lowered shares of Bar Harbor Bankshares from a “b” rating to a “c+” rating in a research note on Monday, March 11th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $28.00 price target (down previously from $29.00) on shares of Bar Harbor Bankshares in a report on Monday, April 22nd.
Read Our Latest Stock Analysis on Bar Harbor Bankshares
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.
Featured Articles
- Five stocks we like better than Bar Harbor Bankshares
- The How and Why of Investing in Biotech Stocks
- MarketBeat Week in Review – 4/22 – 4/26
- With Risk Tolerance, One Size Does Not Fit All
- 3 Stocks Leading the U.S. Agriculture Comeback
- CD Calculator: Certificate of Deposit Calculator
- How to Use Put Debit Spreads to Profit From Falling Stocks
Receive News & Ratings for Bar Harbor Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bar Harbor Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.