Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) Short Interest Update

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 693,495 shares, an increase of 166.5% from the June 15th total of 260,263 shares. Approximately 4.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 239,241 shares, the short-interest ratio is currently 2.9 days.

Insider Activity

In other Bar Harbor Bankshares news, Director Matthew L. Caras purchased 760 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was purchased at an average price of $34.68 per share, with a total value of $26,356.80. Following the acquisition, the director owned 22,894 shares in the company, valued at approximately $793,963.92. The trade was a 3.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.37% of the company’s stock.

Institutional Trading of Bar Harbor Bankshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new stake in shares of Bar Harbor Bankshares during the fourth quarter valued at $1,177,000. Coston McIsaac & Partners increased its stake in Bar Harbor Bankshares by 85.8% in the 1st quarter. Coston McIsaac & Partners now owns 75,289 shares of the financial services provider’s stock worth $2,443,000 after buying an additional 34,771 shares during the period. LSV Asset Management increased its stake in Bar Harbor Bankshares by 18.3% in the 4th quarter. LSV Asset Management now owns 109,450 shares of the financial services provider’s stock worth $3,398,000 after buying an additional 16,900 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in Bar Harbor Bankshares during the 4th quarter valued at about $111,000. Finally, Clearstead Advisors LLC lifted its holdings in Bar Harbor Bankshares by 192.6% during the 4th quarter. Clearstead Advisors LLC now owns 1,384 shares of the financial services provider’s stock valued at $43,000 after buying an additional 911 shares in the last quarter. Hedge funds and other institutional investors own 54.49% of the company’s stock.

Bar Harbor Bankshares Trading Up 1.5%

NYSEAMERICAN:BHB traded up $0.57 during mid-day trading on Wednesday, hitting $37.91. 89,033 shares of the stock traded hands, compared to its average volume of 117,170. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.40. Bar Harbor Bankshares has a 52 week low of $28.06 and a 52 week high of $39.67. The stock has a market capitalization of $634.61 million, a price-to-earnings ratio of 15.47 and a beta of 0.60. The firm’s 50 day moving average is $36.01 and its two-hundred day moving average is $34.20.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.02. The business had revenue of $47.29 billion during the quarter, compared to the consensus estimate of $48.22 million. Bar Harbor Bankshares had a net margin of 15.90% and a return on equity of 10.95%. On average, equities research analysts predict that Bar Harbor Bankshares will post 3.67 earnings per share for the current year.

Bar Harbor Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 21st were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Thursday, May 21st. This is an increase from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. Bar Harbor Bankshares’s dividend payout ratio (DPR) is presently 47.72%.

Wall Street Analyst Weigh In

Separately, Piper Sandler reissued an “overweight” rating and set a $41.00 price objective (up from $39.00) on shares of Bar Harbor Bankshares in a research note on Friday, June 26th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.50.

Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares, Inc is a bank holding company headquartered in Ellsworth, Maine, and the parent of Bar Harbor Bank & Trust. The company provides a full suite of commercial and consumer banking products and services, including deposit accounts, residential and commercial lending, wealth management, treasury and cash management, and online and mobile banking solutions. Its subsidiary, Bar Harbor Bank & Trust, operates branches across Maine and eastern New Hampshire, serving both individual and business clients with a focus on community banking relationships.

With roots tracing back to the late 19th century, Bar Harbor Bankshares has built its presence along the coast of Maine, extending from Casco Bay to Downeast communities, and into neighboring New Hampshire markets.