Keefe, Bruyette & Woods Issues Positive Forecast for Bar Harbor Bankshares (NYSEAMERICAN:BHB) Stock Price

Bar Harbor Bankshares (NYSEAMERICAN:BHB) had its target price increased by Keefe, Bruyette & Woods from $35.00 to $36.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

Bar Harbor Bankshares Price Performance

BHB stock opened at $30.57 on Monday. Bar Harbor Bankshares has a 1 year low of $23.26 and a 1 year high of $38.47. The company has a market capitalization of $466.80 million, a P/E ratio of 10.73 and a beta of 0.72. The business has a 50-day moving average of $31.17. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54.

Bar Harbor Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Thursday, February 20th. Bar Harbor Bankshares’s dividend payout ratio is 42.11%.

Hedge Funds Weigh In On Bar Harbor Bankshares

A number of institutional investors and hedge funds have recently made changes to their positions in BHB. Steward Partners Investment Advisory LLC grew its holdings in shares of Bar Harbor Bankshares by 25.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,855 shares of the financial services provider’s stock valued at $87,000 after buying an additional 576 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Bar Harbor Bankshares during the fourth quarter valued at approximately $107,000. Hager Investment Management Services LLC purchased a new stake in shares of Bar Harbor Bankshares during the fourth quarter valued at approximately $151,000. New York State Common Retirement Fund boosted its holdings in Bar Harbor Bankshares by 40.4% in the fourth quarter. New York State Common Retirement Fund now owns 5,213 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in Bar Harbor Bankshares in the third quarter worth approximately $203,000. Institutional investors own 54.49% of the company’s stock.

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.