Bar Harbor Bankshares (NYSEAMERICAN:BHB) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Shares of Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $30.66 and traded as low as $29.80. Bar Harbor Bankshares shares last traded at $30.35, with a volume of 31,541 shares trading hands.

Analysts Set New Price Targets

BHB has been the subject of several analyst reports. Keefe, Bruyette & Woods cut their price target on shares of Bar Harbor Bankshares from $35.00 to $33.00 and set a “market perform” rating for the company in a report on Monday, April 21st. Wall Street Zen initiated coverage on shares of Bar Harbor Bankshares in a report on Saturday, April 26th. They set a “hold” rating for the company.

Bar Harbor Bankshares Stock Performance

The company has a market capitalization of $464.96 million, a P/E ratio of 11.76 and a beta of 0.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.97 and a quick ratio of 0.97. The stock’s 50 day simple moving average is $30.09 and its two-hundred day simple moving average is $30.62.

Hedge Funds Weigh In On Bar Harbor Bankshares

A number of institutional investors have recently modified their holdings of BHB. SG Americas Securities LLC grew its position in shares of Bar Harbor Bankshares by 183.5% during the 1st quarter. SG Americas Securities LLC now owns 32,007 shares of the financial services provider’s stock worth $944,000 after buying an additional 20,717 shares during the period. Northern Trust Corp grew its position in shares of Bar Harbor Bankshares by 7.1% during the 4th quarter. Northern Trust Corp now owns 145,134 shares of the financial services provider’s stock worth $4,438,000 after buying an additional 9,635 shares during the period. Wells Fargo & Company MN grew its position in shares of Bar Harbor Bankshares by 71.5% during the 4th quarter. Wells Fargo & Company MN now owns 29,177 shares of the financial services provider’s stock worth $892,000 after buying an additional 12,166 shares during the period. Millennium Management LLC grew its position in shares of Bar Harbor Bankshares by 390.3% during the 4th 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 period. Finally, JPMorgan Chase & Co. grew its position in shares of Bar Harbor Bankshares by 59.1% during the 4th quarter. JPMorgan Chase & Co. now owns 81,000 shares of the financial services provider’s stock worth $2,477,000 after buying an additional 30,084 shares during the period. 54.49% of the stock is owned by 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.