Bar Harbor Bankshares (NYSE:BHB) Stock Price Down 1.4% – Time to Sell?

Bar Harbor Bankshares (NYSE:BHB) shares fell 1.4% on Thursday . The stock traded as low as $34.90 and last traded at $35.14. 67,870 shares were traded during mid-day trading, a decline of 13% from the average session volume of 77,965 shares. The stock had previously closed at $35.63.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised their price target on Bar Harbor Bankshares from $33.00 to $34.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $34.50.

Bar Harbor Bankshares Stock Down 1.4%

The firm has a market capitalization of $586.45 million, a PE ratio of 15.28 and a beta of 0.65. The company’s 50-day simple moving average is $32.40 and its 200 day simple moving average is $31.17.

Hedge Funds Weigh In On Bar Harbor Bankshares

A number of institutional investors have recently modified their holdings of the stock. CSM Advisors LLC purchased a new position in shares of Bar Harbor Bankshares during the 2nd quarter valued at approximately $2,690,000. Focus Partners Wealth grew its position in Bar Harbor Bankshares by 459.8% during the third quarter. Focus Partners Wealth now owns 90,870 shares of the company’s stock valued at $2,768,000 after buying an additional 74,638 shares during the period. Delphi Management Inc. MA purchased a new position in Bar Harbor Bankshares in the third quarter valued at $1,322,000. UBS Group AG raised its position in shares of Bar Harbor Bankshares by 489.9% in the third quarter. UBS Group AG now owns 48,087 shares of the company’s stock worth $1,465,000 after acquiring an additional 39,935 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of Bar Harbor Bankshares during the 4th quarter worth about $1,177,000. Hedge funds and other institutional investors own 54.49% of the company’s stock.

About Bar Harbor Bankshares

Bar Harbor Bankshares, Inc is a bank holding company headquartered in Bar Harbor, Maine, operating through its wholly owned subsidiary, Bar Harbor Bank & Trust. The company offers a comprehensive suite of commercial and consumer banking services, including checking and savings accounts, certificates of deposit, and digital banking capabilities. It serves individuals, small businesses, and corporate clients across its footprint in Maine and New Hampshire, with a network of full-service branch offices and lending centers.

In addition to traditional deposit and loan products, Bar Harbor Bankshares provides specialized financial services such as mortgage lending, commercial real estate financing, equipment loans, and lines of credit tailored to the needs of local businesses.