J.W. Cole Advisors Inc. Buys Shares of 14,800 Bar Harbor Bankshares (NYSEAMERICAN:BHB)

J.W. Cole Advisors Inc. bought a new stake in shares of Bar Harbor Bankshares (NYSEAMERICAN:BHB) in the fourth quarter, Holdings Channel reports. The fund bought 14,800 shares of the financial services provider’s stock, valued at approximately $435,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BHB. IFP Advisors Inc bought a new stake in shares of Bar Harbor Bankshares during the third quarter valued at approximately $27,000. Headinvest LLC bought a new stake in shares of Bar Harbor Bankshares during the third quarter valued at approximately $96,000. SG Americas Securities LLC bought a new stake in shares of Bar Harbor Bankshares during the third quarter valued at approximately $162,000. First Bancorp Inc ME bought a new stake in shares of Bar Harbor Bankshares during the fourth quarter valued at approximately $209,000. Finally, Sky Investment Group LLC bought a new stake in shares of Bar Harbor Bankshares during the fourth quarter valued at approximately $238,000. Institutional investors own 54.49% of the company’s stock.

Bar Harbor Bankshares Stock Performance

Shares of BHB stock opened at $25.33 on Wednesday. Bar Harbor Bankshares has a 12-month low of $19.55 and a 12-month high of $30.37. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $384.76 million, a P/E ratio of 9.21 and a beta of 0.74.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The business had revenue of $36.64 million for the quarter, compared to analysts’ expectations of $37.10 million. Bar Harbor Bankshares had a net margin of 19.51% and a return on equity of 10.17%. On average, analysts predict that Bar Harbor Bankshares will post 2.75 earnings per share for the current year.

Bar Harbor Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 16th will be paid a dividend of $0.30 per share. This is a boost from Bar Harbor Bankshares’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, May 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.74%. Bar Harbor Bankshares’s payout ratio is 40.73%.

Analysts Set New Price Targets

Several brokerages recently weighed in on BHB. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $28.00 price target (down previously from $29.00) on shares of Bar Harbor Bankshares in a research report on Monday. TheStreet downgraded shares of Bar Harbor Bankshares from a “b” rating to a “c+” rating in a research report on Monday, March 11th.

Bar Harbor Bankshares 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.