Northern Trust Corp Boosts Stake in Bar Harbor Bankshares …

Posted by on Dec 2, 2017 in Local News | Comments Off on Northern Trust Corp Boosts Stake in Bar Harbor Bankshares …

Northern Trust Corp raised its position in Bar Harbor Bankshares (NYSEAMERICAN:BHB) by 6.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,879 shares of the financial services provider’s stock after purchasing an additional 11,736 shares during the quarter. Northern Trust Corp owned 1.19% of Bar Harbor Bankshares worth $5,636,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BHB. Foundry Partners LLC grew its stake in Bar Harbor Bankshares by 48.2% during the 2nd quarter. Foundry Partners LLC now owns 90,780 shares of the financial services provider’s stock valued at $2,798,000 after purchasing an additional 29,538 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Bar Harbor Bankshares by 18.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 89,906 shares of the financial services provider’s stock worth $2,771,000 after acquiring an additional 13,840 shares in the last quarter. Morgan Dempsey Capital Management LLC grew its position in shares of Bar Harbor Bankshares by 96.5% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 28,841 shares of the financial services provider’s stock worth $889,000 after acquiring an additional 14,162 shares in the last quarter. Teachers Advisors LLC grew its position in shares of Bar Harbor Bankshares by 11.0% in the 2nd quarter. Teachers Advisors LLC now owns 26,863 shares of the financial services provider’s stock worth $828,000 after acquiring an additional 2,659 shares in the last quarter. Finally, Swiss National Bank acquired a new position in shares of Bar Harbor Bankshares in the 2nd quarter worth approximately $789,000.

In other Bar Harbor Bankshares news, Director Stephen W. Ensign sold 3,300 shares of Bar Harbor Bankshares stock in a transaction on Friday, October 27th. The stock was sold at an average price of $31.26, for a total transaction of $103,158.00. Following the sale, the director now owns 50,655 shares of the company’s stock, valued at approximately $1,583,475.30. The sale was disclosed in a document filed with the Securities Exchange Commission, which can be accessed through this hyperlink. Also, EVP John M. Mercier acquired 1,000 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was purchased at an average cost of $27.88 per share, for a total transaction of $27,880.00. Following the purchase, the executive vice president now directly owns 1,000 shares in the company, valued at approximately $27,880. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 5,975 shares of company stock valued at $159,602 and have sold 5,203 shares valued at $161,812.

Shares of Bar Harbor Bankshares (BHB) traded down $0.39 on Friday, hitting $28.11. The stock had a trading volume of 20,403 shares, compared to its average volume of 28,983. Bar Harbor Bankshares has a one year low of $25.09 and a one year high of $33.41.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a dividend of $0.1867 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.75 dividend on an annualized basis and a yield of 2.66%. Bar Harbor Bankshares’s dividend payout ratio is currently 48.39%.

Separately, TheStreet lowered Bar Harbor Bankshares from a “b” rating to a “c+” rating in a research report on Friday, August 11th.

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Bar Harbor Bankshares Company Profile

Bar Harbor Bankshares is a bank holding company. The Company’s operating subsidiary, Bar Harbor Bank Trust (the Bank), is a community bank, which offers a range of deposit, loan and related banking products, as well as brokerage services provided through a third-party brokerage arrangement. In addition, the Company offers trust and investment management services through its second tier subsidiary, Bar Harbor Trust Services, a Maine chartered non-depository trust company.

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