Bar Harbor Bankshares (NYSE:BHB) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Bar Harbor Bankshares (NYSE:BHB) in a report released on Friday. The firm set a “hold” rating on the stock.

Bar Harbor Bankshares Stock Down 0.3%

BHB opened at $31.17 on Friday. Bar Harbor Bankshares has a twelve month low of $24.48 and a twelve month high of $38.47. The firm has a market cap of $477.43 million, a PE ratio of 10.94 and a beta of 0.69.

Institutional Investors Weigh In On Bar Harbor Bankshares

Several institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in Bar Harbor Bankshares by 11.1% in the first quarter. Royal Bank of Canada now owns 50,501 shares of the company’s stock valued at $1,490,000 after buying an additional 5,036 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Bar Harbor Bankshares in the 1st quarter valued at $214,000. Nuveen LLC acquired a new position in shares of Bar Harbor Bankshares during the 1st quarter valued at $1,464,000. Vanguard Group Inc. boosted its stake in Bar Harbor Bankshares by 1.7% during the first quarter. Vanguard Group Inc. now owns 807,331 shares of the company’s stock worth $23,816,000 after acquiring an additional 13,243 shares in the last quarter. Finally, Brant Point Investment Management LLC acquired a new stake in Bar Harbor Bankshares in the first quarter worth $583,000. Institutional investors own 54.49% of the company’s stock.

Bar Harbor Bankshares Company Profile

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.