Bar Harbor Bankshares (NYSEAMERICAN: BHB) stock rating downgraded by Zacks Investment Research
Bar Harbor Bankshares (NYSEAMERICAN: BHB – Get Note) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report on Monday, reports Zacks.com.
According to Zacks, “Bar Harbor Bankshares is a retail bank primarily serving individual customers, small retail establishments, seasonal accommodations, campgrounds and restaurants. The bank provides the normal banking services offered by a commercial bank, including checking accounts, NOW accounts, all forms of savings and time deposit accounts, individual retirement accounts, safe deposit boxes, collections , travelers checks, overnight deposit services, payroll direct deposit services, credit cards, personal money orders, mail and club bank accounts and car services at all offices. “
NYSEAMERICAN: BHB traded down $0.45 on Monday, hitting $27.05. The stock had a trading volume of 367 shares, compared to an average volume of 21,908. The stock has a market capitalization of $406.10 million, a P/E ratio of 10.36 and a beta of 0, 84. The company has a debt ratio of 0.42, a current ratio of 0.91 and a quick ratio of 0.91. Bar Harbor Bankshares has a 12-month low of $24.82 and a 12-month high of $32.94.
A number of large investors have recently bought and sold BHB shares. The Manufacturers Life Insurance Company increased its stake in Bar Harbor Bankshares by 6.8% in the first quarter. The Manufacturers Life Insurance Company now owns 452,043 shares of the financial services provider valued at $12,937,000 after purchasing an additional 28,851 shares in the last quarter. Goldman Sachs Group Inc. purchased a new equity stake from Bar Harbor Bankshares in the first quarter for $239,000. Invesco Ltd. raised its position in Bar Harbor Bankshares shares by 11.3% in the first quarter. Invesco Ltd. now owns 16,618 shares of the financial services provider valued at $476,000 after purchasing an additional 1,688 shares during the period. Hsbc Holdings PLC acquired a new equity position in Bar Harbor Bankshares in the first quarter worth approximately $210,000. Finally, Renaissance Technologies LLC increased its holdings of Bar Harbor Bankshares shares by 14.9% in the first quarter. Renaissance Technologies LLC now owns 114,996 shares of the financial services provider worth $3,291,000 after acquiring an additional 14,895 shares in the last quarter. Institutional investors and hedge funds own 50.95% of the company’s shares.
About Bar Harbor Bankshares (Get a rating)
Bar Harbor Bankshares operates as the holding company of Bar Harbor Bank & Trust which provides commercial banking, lending, retail and wealth management services. It accepts various deposit products, including interest-bearing and non-interest-bearing current accounts, savings accounts, term deposits and money market deposit accounts, as well as certificates of deposit.
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