BidaskClub lowered shares of Bryn Mawr Bank Corporation (NASDAQ:BMTC) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday, August 1st.
BMTC has been the topic of several other research reports. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $47.00 price target on shares of Bryn Mawr Bank Corporation in a research report on Sunday, July 23rd. Zacks Investment Research lowered Bryn Mawr Bank Corporation from a hold rating to a sell rating in a research report on Tuesday, July 25th. Boenning Scattergood raised Bryn Mawr Bank Corporation from a neutral rating to an outperform rating and set a $50.00 price target on the stock in a research report on Monday, July 24th. Finally, ValuEngine raised Bryn Mawr Bank Corporation from a hold rating to a buy rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Bryn Mawr Bank Corporation presently has a consensus rating of Hold and a consensus target price of $48.00.
Bryn Mawr Bank Corporation (NASDAQ:BMTC) opened at 41.85 on Tuesday. The firm has a market capitalization of $711.49 million, a PE ratio of 19.29 and a beta of 0.62. The firm’s 50-day moving average is $42.38 and its 200-day moving average is $41.25. Bryn Mawr Bank Corporation has a 12 month low of $29.50 and a 12 month high of $44.40.
Bryn Mawr Bank Corporation (NASDAQ:BMTC) last released its earnings results on Thursday, July 20th. The bank reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.03. The firm had revenue of $42.75 million for the quarter, compared to analysts’ expectations of $42.40 million. Bryn Mawr Bank Corporation had a return on equity of 9.96% and a net margin of 21.17%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 EPS. On average, equities research analysts expect that Bryn Mawr Bank Corporation will post $2.40 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Wednesday, August 2nd will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, July 31st. This is an increase from Bryn Mawr Bank Corporation’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.10%. Bryn Mawr Bank Corporation’s payout ratio is 40.37%.
In related news, Director Scott Mahaley Jenkins sold 3,500 shares of the business’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $43.75, for a total value of $153,125.00. Following the completion of the sale, the director now directly owns 13,908 shares in the company, valued at approximately $608,475. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.31% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in BMTC. Mutual of America Capital Management LLC increased its stake in Bryn Mawr Bank Corporation by 0.7% in the first quarter. Mutual of America Capital Management LLC now owns 141,520 shares of the bank’s stock worth $5,590,000 after buying an additional 1,016 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in Bryn Mawr Bank Corporation by 22.8% in the first quarter. Parametric Portfolio Associates LLC now owns 12,058 shares of the bank’s stock worth $476,000 after buying an additional 2,238 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Bryn Mawr Bank Corporation by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 485,195 shares of the bank’s stock worth $19,165,000 after buying an additional 14,763 shares during the last quarter. First Trust Advisors LP increased its stake in Bryn Mawr Bank Corporation by 49.1% in the first quarter. First Trust Advisors LP now owns 70,827 shares of the bank’s stock worth $2,798,000 after buying an additional 23,324 shares during the last quarter. Finally, LSV Asset Management increased its stake in Bryn Mawr Bank Corporation by 31.1% in the first quarter. LSV Asset Management now owns 133,144 shares of the bank’s stock worth $5,259,000 after buying an additional 31,623 shares during the last quarter. Hedge funds and other institutional investors own 75.99% of the company’s stock.
Bryn Mawr Bank Corporation Company Profile
Bryn Mawr Bank Corporation is the bank holding company of the Bryn Mawr Trust Company (the Bank). The Company and its subsidiaries offer a range of personal and business banking services, consumer and commercial loans, equipment leasing, mortgages, insurance and wealth management services, including investment management, trust and estate administration, retirement planning, custody services, and tax planning and preparation from various location across Montgomery, Delaware, Chester, Philadelphia and Dauphin counties of Pennsylvania, and New Castle county in Delaware.
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