Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Bar Harbor Bankshares (NYSEAMERICAN:BHB) Stock

Bar Harbor Bankshares (NYSEAMERICAN:BHB) had its price objective raised by analysts at Keefe, Bruyette & Woods from $35.00 to $36.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 18.66% from the stock’s previous close.

Bar Harbor Bankshares Stock Up 2.8 %

Shares of NYSEAMERICAN:BHB opened at $30.34 on Monday. The stock has a market capitalization of $463.29 million, a P/E ratio of 10.65 and a beta of 0.72. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 0.96. Bar Harbor Bankshares has a 52 week low of $23.26 and a 52 week high of $38.47. The firm has a fifty day simple moving average of $31.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BHB. Boston Partners lifted its stake in shares of Bar Harbor Bankshares by 74.5% during 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. Trust Co. of Vermont lifted its stake in shares of Bar Harbor Bankshares by 561.1% during the fourth quarter. Trust Co. of Vermont now owns 39,444 shares of the financial services provider’s stock worth $1,206,000 after purchasing an additional 33,478 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Bar Harbor Bankshares by 59.1% during the fourth quarter. JPMorgan Chase & Co. now owns 81,000 shares of the financial services provider’s stock worth $2,477,000 after purchasing an additional 30,084 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Bar Harbor Bankshares by 390.3% during the fourth quarter. Millennium Management LLC now owns 36,146 shares of the financial services provider’s stock worth $1,105,000 after purchasing an additional 28,774 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Bar Harbor Bankshares by 5.6% during the third quarter. State Street Corp now owns 362,823 shares of the financial services provider’s stock worth $11,189,000 after purchasing an additional 19,118 shares in the last quarter. Institutional investors and hedge funds own 54.49% of the company’s stock.

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.