Means Investment CO. Inc. Trims Stock Holdings in Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB)

Means Investment CO. Inc. decreased its holdings in Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) by 12.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,088 shares of the financial services provider’s stock after selling 3,754 shares during the period. Means Investment CO. Inc.’s holdings in Bar Harbor Bankshares were worth $770,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in shares of 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 in the last quarter. Bar Harbor Wealth Management increased its stake in shares of Bar Harbor Bankshares by 7.0% in the first quarter. Bar Harbor Wealth Management now owns 458,476 shares of the financial services provider’s stock worth $13,525,000 after purchasing an additional 30,075 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Bar Harbor Bankshares by 1.9% in the fourth quarter. American Century Companies Inc. now owns 259,299 shares of the financial services provider’s stock worth $7,929,000 after purchasing an additional 4,713 shares in the last quarter. Northern Trust Corp increased its stake in shares of Bar Harbor Bankshares by 7.1% in the fourth quarter. Northern Trust Corp now owns 145,134 shares of the financial services provider’s stock worth $4,438,000 after purchasing an additional 9,635 shares in the last quarter. Finally, Boston Partners increased its stake in shares of Bar Harbor Bankshares by 74.5% in the fourth quarter. Boston Partners now owns 124,321 shares of the financial services provider’s stock worth $3,802,000 after purchasing an additional 53,063 shares in the last quarter. Hedge funds and other institutional investors own 54.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BHB shares. Keefe, Bruyette & Woods cut their price objective on shares of Bar Harbor Bankshares from $35.00 to $33.00 and set a “market perform” rating for the company in a research report on Monday, April 21st. Wall Street Zen started coverage on shares of Bar Harbor Bankshares in a research report on Saturday, April 26th. They issued a “hold” rating for the company.

Bar Harbor Bankshares Price Performance

BHB stock opened at $28.68 on Friday. The firm has a 50 day moving average of $29.37 and a 200-day moving average of $31.11. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.51. Bar Harbor Bankshares, Inc. has a 12 month low of $24.48 and a 12 month high of $38.47. The firm has a market capitalization of $439.38 million, a P/E ratio of 10.06 and a beta of 0.65.

Bar Harbor Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were given a $0.32 dividend. This is a positive change from Bar Harbor Bankshares’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date was Thursday, May 15th. Bar Harbor Bankshares’s dividend payout ratio (DPR) is 44.91%.

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.