Bar Harbor Bankshares (BHB) Short Interest Up 13.9% in December

Bar Harbor Bankshares (NYSEAMERICAN:BHB) saw a large increase in short interest in the month of December. As of December 29th, there was short interest totalling 176,025 shares, an increase of 13.9% from the December 15th total of 154,578 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average trading volume of 21,252 shares, the short-interest ratio is currently 8.3 days.

In other news, EVP John M. Mercier purchased 1,000 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was bought at an average price of $27.88 per share, with a total value of $27,880.00. Following the acquisition, the executive vice president now owns 1,000 shares in the company, valued at approximately $27,880. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen W. Ensign sold 3,300 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $31.26, for a total transaction of $103,158.00. Following the sale, the director now directly owns 50,655 shares of the company’s stock, valued at approximately $1,583,475.30. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 1,130 shares of company stock valued at $31,506 and have sold 5,558 shares valued at $172,085.

A number of hedge funds have recently added to or reduced their stakes in BHB. Punch & Associates Investment Management Inc. increased its position in Bar Harbor Bankshares by 39.4% during the 2nd quarter. Punch & Associates Investment Management Inc. now owns 263,126 shares of the financial services provider’s stock worth $8,110,000 after purchasing an additional 74,385 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Bar Harbor Bankshares by 10.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 486,886 shares of the financial services provider’s stock worth $15,006,000 after purchasing an additional 47,441 shares in the last quarter. State Street Corp increased its position in Bar Harbor Bankshares by 19.1% during the 2nd quarter. State Street Corp now owns 277,795 shares of the financial services provider’s stock worth $8,560,000 after purchasing an additional 44,622 shares in the last quarter. Vanguard Group Inc. increased its position in Bar Harbor Bankshares by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 561,631 shares of the financial services provider’s stock worth $17,309,000 after purchasing an additional 35,079 shares in the last quarter. Finally, FMR LLC increased its position in Bar Harbor Bankshares by 14.6% during the 2nd quarter. FMR LLC now owns 273,158 shares of the financial services provider’s stock worth $8,419,000 after purchasing an additional 34,813 shares in the last quarter.

Separately, TheStreet upgraded shares of Bar Harbor Bankshares from a “c+” rating to a “b” rating in a research report on Monday, October 16th.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) opened at $28.39 on Friday. The stock has a market cap of $424.84, a P/E ratio of 18.32 and a beta of 0.80. Bar Harbor Bankshares has a 12-month low of $25.09 and a 12-month high of $33.41.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 15th were given a dividend of $0.1867 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Tuesday, November 14th. Bar Harbor Bankshares’s dividend payout ratio is 48.39%.

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About Bar Harbor Bankshares

Bar Harbor Bankshares is a bank holding company. The Company’s operating subsidiary, Bar Harbor Bank & Trust (the Bank), is a community bank, which offers a range of deposit, loan and related banking products, as well as brokerage services provided through a third-party brokerage arrangement. In addition, the Company offers trust and investment management services through its second tier subsidiary, Bar Harbor Trust Services, a Maine chartered non-depository trust company.

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