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

Equities researchers at StockNews.com began coverage on shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) in a note issued to investors on Sunday. The firm set a “hold” rating on the financial services provider’s stock.

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

Bar Harbor Bankshares Price Performance

NYSEAMERICAN BHB opened at $27.70 on Friday. Bar Harbor Bankshares has a 12-month low of $23.26 and a 12-month high of $38.47. The firm’s 50 day moving average is $30.65 and its 200-day moving average is $31.39. The company has a market capitalization of $422.98 million, a PE ratio of 9.72 and a beta of 0.72. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.54.

Hedge Funds Weigh In On Bar Harbor Bankshares

Several large investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its holdings in Bar Harbor Bankshares by 25.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,855 shares of the financial services provider’s stock valued at $87,000 after buying an additional 576 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Bar Harbor Bankshares in the 4th quarter valued at approximately $107,000. GAMMA Investing LLC raised its stake in shares of Bar Harbor Bankshares by 4,202.1% during the first quarter. GAMMA Investing LLC now owns 4,130 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 4,034 shares during the last quarter. Hager Investment Management Services LLC bought a new position in shares of Bar Harbor Bankshares during the fourth quarter valued at $151,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Bar Harbor Bankshares by 40.4% during the fourth quarter. New York State Common Retirement Fund now owns 5,213 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 1,500 shares during the period. 54.49% of the stock is currently owned by institutional investors.

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.