Bar Harbor Bankshares (NYSE:BHB) Shares Down 5.1% – Here’s What Happened

Shares of Bar Harbor Bankshares (NYSE:BHB) traded down 5.1% on Tuesday . The stock traded as low as $32.73 and last traded at $32.98. 2,471 shares changed hands during trading, a decline of 97% from the average session volume of 73,846 shares. The stock had previously closed at $34.74.

Bar Harbor Bankshares Price Performance

The stock has a market cap of $565.42 million, a P/E ratio of 14.73 and a beta of 0.65. The stock has a 50-day simple moving average of $33.22 and a 200-day simple moving average of $31.62.

Hedge Funds Weigh In On Bar Harbor Bankshares

A number of institutional investors have recently added to or reduced their stakes in the stock. CSM Advisors LLC acquired a new stake in Bar Harbor Bankshares in the second quarter valued at approximately $2,690,000. Focus Partners Wealth increased its holdings in shares of Bar Harbor Bankshares by 459.8% during the third quarter. Focus Partners Wealth now owns 90,870 shares of the company’s stock worth $2,768,000 after buying an additional 74,638 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Bar Harbor Bankshares in the 4th quarter valued at $1,408,000. Delphi Management Inc. MA acquired a new stake in shares of Bar Harbor Bankshares during the 3rd quarter valued at $1,322,000. Finally, UBS Group AG boosted its holdings in shares of Bar Harbor Bankshares by 489.9% during the 3rd quarter. UBS Group AG now owns 48,087 shares of the company’s stock valued at $1,465,000 after acquiring an additional 39,935 shares in the last quarter. 54.49% of the stock is currently owned by institutional investors and hedge funds.

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.