Nuveen Asset Management LLC Decreases Stock Position in Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Nuveen Asset Management LLC cut its stake in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 3.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 60,033 shares of the financial services provider’s stock after selling 2,376 shares during the quarter. Nuveen Asset Management LLC’s holdings in Bar Harbor Bankshares were worth $1,836,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BHB. Steward Partners Investment Advisory LLC lifted its stake in 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 worth $87,000 after purchasing an additional 576 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Bar Harbor Bankshares in the 4th quarter worth approximately $107,000. Hager Investment Management Services LLC bought a new position in Bar Harbor Bankshares in the 4th quarter valued at approximately $151,000. New York State Common Retirement Fund lifted its position in 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 in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Bar Harbor Bankshares during the 4th quarter valued at $212,000. 54.49% of the stock is currently owned by hedge funds and other institutional investors.

Bar Harbor Bankshares Stock Up 2.2%

Bar Harbor Bankshares stock opened at $29.14 on Wednesday. The business has a fifty day moving average of $29.30 and a two-hundred day moving average of $31.17. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.54. The firm has a market cap of $444.97 million, a P/E ratio of 10.22 and a beta of 0.72. Bar Harbor Bankshares has a twelve month low of $24.48 and a twelve month high of $38.47.

Bar Harbor Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, May 15th. This is an increase from Bar Harbor Bankshares’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.39%. Bar Harbor Bankshares’s dividend payout ratio is presently 42.11%.

Analysts Set New Price Targets

A number of brokerages recently commented on BHB. Keefe, Bruyette & Woods decreased their target price on Bar Harbor Bankshares from $35.00 to $33.00 and set a “market perform” rating on the stock in a report on Monday, April 21st. Wall Street Zen started coverage on Bar Harbor Bankshares in a research note on Saturday, April 26th. They set a “hold” rating on the 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.