Bar Harbor Bankshares (NYSEAMERICAN:BHB) Shares Sold by Naples Global Advisors LLC

Naples Global Advisors LLC lowered its stake in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,594 shares of the financial services provider’s stock after selling 412 shares during the quarter. Naples Global Advisors LLC’s holdings in Bar Harbor Bankshares were worth $1,211,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Trust Co. of Vermont increased its stake in Bar Harbor Bankshares by 561.1% during the 4th quarter. Trust Co. of Vermont now owns 39,444 shares of the financial services provider’s stock valued at $1,206,000 after purchasing an additional 33,478 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Bar Harbor Bankshares by 77.4% during the third quarter. JPMorgan Chase & Co. now owns 50,916 shares of the financial services provider’s stock valued at $1,570,000 after buying an additional 22,212 shares during the last quarter. State Street Corp grew its holdings in shares of Bar Harbor Bankshares by 5.6% during the third quarter. State Street Corp now owns 362,823 shares of the financial services provider’s stock valued at $11,189,000 after buying an additional 19,118 shares during the last quarter. Barclays PLC increased its position in shares of Bar Harbor Bankshares by 50.0% in the 3rd quarter. Barclays PLC now owns 49,714 shares of the financial services provider’s stock valued at $1,533,000 after acquiring an additional 16,579 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Bar Harbor Bankshares by 196.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 23,019 shares of the financial services provider’s stock worth $710,000 after acquiring an additional 15,245 shares during the last quarter. 54.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $35.00 target price (up previously from $34.00) on shares of Bar Harbor Bankshares in a report on Monday, January 27th.

Bar Harbor Bankshares Stock Performance

Shares of BHB opened at $32.93 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $502.84 million, a PE ratio of 11.55 and a beta of 0.72. Bar Harbor Bankshares has a 52 week low of $23.26 and a 52 week high of $38.47.

Bar Harbor Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Thursday, February 20th. Bar Harbor Bankshares’s dividend payout ratio (DPR) is 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.