Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Bar Harbor Bankshares (NYSEAMERICAN:BHB) Stock

Bar Harbor Bankshares (NYSEAMERICAN:BHB) had its price target increased by stock analysts at Keefe, Bruyette & Woods from $35.00 to $36.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 18.66% from the stock’s previous close.

Bar Harbor Bankshares Price Performance

Shares of BHB stock opened at $30.34 on Monday. Bar Harbor Bankshares has a 12-month low of $23.26 and a 12-month high of $38.47. The company has a market cap of $463.29 million, a price-to-earnings ratio of 10.65 and a beta of 0.72. The business has a 50 day simple moving average of $31.18. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.96 and a quick ratio of 0.96.

Institutional Investors Weigh In On Bar Harbor Bankshares

A number of institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in Bar Harbor Bankshares by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 879,697 shares of the financial services provider’s stock worth $26,901,000 after purchasing an additional 7,314 shares during the period. Bar Harbor Wealth Management lifted its position in shares of Bar Harbor Bankshares by 2.6% during the 4th quarter. Bar Harbor Wealth Management now owns 428,401 shares of the financial services provider’s stock valued at $13,101,000 after acquiring an additional 10,761 shares during the last quarter. State Street Corp lifted its position in shares of Bar Harbor Bankshares by 5.6% during the 3rd quarter. State Street Corp now owns 362,823 shares of the financial services provider’s stock valued at $11,189,000 after acquiring an additional 19,118 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Bar Harbor Bankshares by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 335,432 shares of the financial services provider’s stock valued at $10,348,000 after acquiring an additional 3,602 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Bar Harbor Bankshares by 1.9% during the 4th quarter. American Century Companies Inc. now owns 259,299 shares of the financial services provider’s stock valued at $7,929,000 after acquiring an additional 4,713 shares during the last quarter. 54.49% of the stock is currently owned by institutional investors and hedge funds.

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.