StockNews.com Initiates Coverage on Bar Harbor Bankshares (NYSEAMERICAN:BHB)

Equities research analysts at StockNews.com initiated coverage on shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) in a research report issued to clients and investors on Monday. The firm set a “hold” rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods upped their target price on Bar Harbor Bankshares from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, March 17th.

Bar Harbor Bankshares Price Performance

BHB stock opened at $27.79 on Monday. Bar Harbor Bankshares has a one year low of $23.26 and a one year high of $38.47. The business has a 50 day moving average of $31.12. The stock has a market cap of $424.35 million, a PE ratio of 9.75 and a beta of 0.72. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54.

Institutional Investors Weigh In On Bar Harbor Bankshares

Institutional investors and hedge funds have recently modified their holdings of the stock. Boston Partners increased its stake in shares of Bar Harbor Bankshares by 74.5% in the 4th quarter. Boston Partners now owns 124,321 shares of the financial services provider’s stock worth $3,802,000 after acquiring an additional 53,063 shares in the last quarter. Trust Co. of Vermont grew its stake in shares of Bar Harbor Bankshares by 561.1% in the fourth quarter. Trust Co. of Vermont now owns 39,444 shares of the financial services provider’s stock worth $1,206,000 after acquiring an additional 33,478 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Bar Harbor Bankshares by 59.1% in the 4th quarter. JPMorgan Chase & Co. now owns 81,000 shares of the financial services provider’s stock worth $2,477,000 after purchasing an additional 30,084 shares during the last quarter. Millennium Management LLC raised its holdings in Bar Harbor Bankshares by 390.3% in the fourth quarter. Millennium Management LLC now owns 36,146 shares of the financial services provider’s stock worth $1,105,000 after buying an additional 28,774 shares during the last quarter. Finally, 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. 54.49% of the stock is owned by hedge funds and other institutional investors.

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.