Bar Harbor Bankshares (NYSEAMERICAN:BHB – Get Rating) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 150,200 shares, a decrease of 8.0% from the August 15th total of 163,200 shares. Based on an average daily volume of 21,300 shares, the days-to-cover ratio is currently 7.1 days. Approximately 1.0% of the shares of the company are sold short.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of BHB. Great West Life Assurance Co. Can increased its holdings in Bar Harbor Bankshares by 65.5% in the first quarter. Great West Life Assurance Co. Can now owns 998 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 395 shares during the period. Cornerstone Advisory LLC acquired a new stake in Bar Harbor Bankshares in the fourth quarter valued at $29,000. Tompkins Financial Corp acquired a new stake in Bar Harbor Bankshares in the first quarter valued at $47,000. Amalgamated Bank acquired a new stake in Bar Harbor Bankshares in the first quarter valued at $51,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Bar Harbor Bankshares in the first quarter valued at $72,000. 57.01% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Separately, StockNews.com upgraded Bar Harbor Bankshares from a “hold” rating to a “buy” rating in a research note on Friday, September 9th.
Bar Harbor Bankshares Price Performance
Bar Harbor Bankshares (NYSEAMERICAN:BHB – Get Rating) last announced its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. Bar Harbor Bankshares had a return on equity of 10.00% and a net margin of 26.67%. The company had revenue of $35.48 million during the quarter, compared to analysts’ expectations of $35.20 million. As a group, sell-side analysts expect that Bar Harbor Bankshares will post 2.81 earnings per share for the current year.
Bar Harbor Bankshares Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Tuesday, August 16th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Monday, August 15th. Bar Harbor Bankshares’s payout ratio is 38.81%.
About Bar Harbor Bankshares
Bar Harbor Bankshares operates as the holding company for Bar Harbor Bank & Trust that provides commercial, lending, retail, and wealth management banking services. 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.
- Get a free copy of the StockNews.com research report on Bar Harbor Bankshares (BHB)
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