Bar Harbor Bankshares, Inc. (BHB) Sees Significant Increase in Short Interest

Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 243,821 shares, a growth of 16.4% from the April 13th total of 209,535 shares. Approximately 1.6% of the company’s stock are sold short. Based on an average daily volume of 36,734 shares, the days-to-cover ratio is presently 6.6 days.

In related news, Director Stephen R. Theroux sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, April 26th. The stock was sold at an average price of $29.83, for a total value of $29,830.00. Following the completion of the transaction, the director now directly owns 34,868 shares in the company, valued at approximately $1,040,112.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott G. Toothaker acquired 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was acquired at an average price of $29.09 per share, with a total value of $189,085.00. The disclosure for this purchase can be found here. Insiders purchased a total of 6,520 shares of company stock valued at $189,648 over the last quarter.

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. bought a new stake in shares of Bar Harbor Bankshares during the 3rd quarter worth approximately $144,000. Vigilant Capital Management LLC bought a new stake in shares of Bar Harbor Bankshares during the 4th quarter worth approximately $126,000. MetLife Investment Advisors LLC bought a new stake in shares of Bar Harbor Bankshares during the 4th quarter worth approximately $198,000. Trust Co. of Vermont raised its stake in shares of Bar Harbor Bankshares by 30.1% during the 4th quarter. Trust Co. of Vermont now owns 9,735 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 2,250 shares in the last quarter. Finally, Eaton Vance Management raised its stake in shares of Bar Harbor Bankshares by 21.3% during the 1st quarter. Eaton Vance Management now owns 25,473 shares of the financial services provider’s stock worth $706,000 after purchasing an additional 4,473 shares in the last quarter.

NYSEAMERICAN:BHB traded up $0.51 during trading hours on Wednesday, reaching $30.62. 187 shares of the stock were exchanged, compared to its average volume of 30,179. Bar Harbor Bankshares has a twelve month low of $29.68 and a twelve month high of $30.70.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its quarterly earnings results on Thursday, April 19th. The financial services provider reported $0.52 earnings per share for the quarter. Bar Harbor Bankshares had a return on equity of 12.02% and a net margin of 35.35%. The firm had revenue of $29.40 million during the quarter.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Monday, May 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, May 11th. This represents a $0.80 dividend on an annualized basis and a yield of 2.61%. This is an increase from Bar Harbor Bankshares’s previous quarterly dividend of $0.19.

About Bar Harbor Bankshares

Bar Harbor Bankshares operates as a bank holding company for Bar Harbor Bank & Trust that provides commercial, retail, and wealth management banking products and services. It offers various deposit products, including interest-bearing and non-interest-bearing demand accounts, NOW accounts, time deposits, and checking, savings, and money market accounts, as well as certificates of deposit.

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