Bar Harbor Bankshares (NYSEAMERICAN:BHB) Short Interest Up 88.6% in March

Bar Harbor Bankshares (NYSEAMERICAN:BHB) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 76,000 shares, a growth of 88.6% from the February 28th total of 40,300 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily volume of 46,500 shares, the days-to-cover ratio is currently 1.6 days.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped their price objective on Bar Harbor Bankshares from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, March 17th.

Hedge Funds Weigh In On Bar Harbor Bankshares

Several hedge funds have recently made changes to their positions in BHB. Steward Partners Investment Advisory LLC boosted its position in shares of Bar Harbor Bankshares by 25.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,855 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 576 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Bar Harbor Bankshares in the fourth quarter valued at approximately $107,000. Hager Investment Management Services LLC purchased a new position in shares of Bar Harbor Bankshares during the fourth quarter worth approximately $151,000. New York State Common Retirement Fund increased its holdings in shares of Bar Harbor Bankshares by 40.4% in the 4th quarter. New York State Common Retirement Fund now owns 5,213 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 1,500 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in Bar Harbor Bankshares in the 3rd quarter valued at $203,000. Hedge funds and other institutional investors own 54.49% of the company’s stock.

Bar Harbor Bankshares Stock Performance

BHB stock traded down $0.90 during midday trading on Friday, reaching $29.75. 27,074 shares of the company were exchanged, compared to its average volume of 40,254. The company has a market capitalization of $454.28 million, a P/E ratio of 10.44 and a beta of 0.72. 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 has a 1-year low of $23.26 and a 1-year high of $38.47. The company’s 50-day moving average price is $31.23.

Bar Harbor Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 20th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $1.20 annualized dividend and a yield of 4.03%. Bar Harbor Bankshares’s dividend payout ratio is presently 42.11%.

Bar Harbor Bankshares Company 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.