Short Interest in Bar Harbor Bankshares (NYSEAMERICAN:BHB) Declines By 8.0%

Bar Harbor Bankshares (NYSEAMERICAN:BHBGet 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, 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

NYSEAMERICAN BHB opened at $29.34 on Tuesday. The business’s fifty day simple moving average is $28.32. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.45. Bar Harbor Bankshares has a fifty-two week low of $24.00 and a fifty-two week high of $32.94. The company has a market capitalization of $440.48 million, a PE ratio of 10.95 and a beta of 0.86.

Bar Harbor Bankshares (NYSEAMERICAN:BHBGet 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

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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.

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