Bryn Mawr Bank Corporation (NASDAQ:BMTC)‘s stock had its “buy” rating reiterated by investment analysts at Keefe, Bruyette & Woods in a research note issued on Sunday, July 23rd. They presently have a $47.00 price objective on the bank’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 16.19% from the company’s previous close.
A number of other equities research analysts have also issued reports on BMTC. Zacks Investment Research upgraded Bryn Mawr Bank Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Monday, April 24th. ValuEngine upgraded 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 issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $48.00.
Bryn Mawr Bank Corporation (BMTC) traded down 0.37% on Friday, reaching $40.45. The company’s stock had a trading volume of 51,514 shares. The company has a market capitalization of $687.69 million, a price-to-earnings ratio of 18.64 and a beta of 0.62. Bryn Mawr Bank Corporation has a 1-year low of $29.50 and a 1-year high of $44.40. The firm’s 50 day moving average price is $42.36 and its 200-day moving average price is $41.27.
Bryn Mawr Bank Corporation (NASDAQ:BMTC) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The business had revenue of $42.75 million during the quarter, compared to analyst estimates 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 revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. Equities analysts forecast that Bryn Mawr Bank Corporation will post $2.40 earnings per share for the current year.
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In related news, Director Scott Mahaley Jenkins sold 3,500 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 13,908 shares in the company, valued at $608,475. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.31% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC raised its position in shares of Bryn Mawr Bank Corporation by 175.8% in the fourth quarter. AQR Capital Management LLC now owns 18,319 shares of the bank’s stock valued at $772,000 after buying an additional 11,676 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Bryn Mawr Bank Corporation during the fourth quarter worth approximately $944,000. Bank of Montreal Can boosted its position in Bryn Mawr Bank Corporation by 60.0% in the first quarter. Bank of Montreal Can now owns 8,676 shares of the bank’s stock worth $342,000 after buying an additional 3,254 shares during the period. Univest Corp of Pennsylvania boosted its position in Bryn Mawr Bank Corporation by 100.0% in the first quarter. Univest Corp of Pennsylvania now owns 20,240 shares of the bank’s stock worth $799,000 after buying an additional 10,120 shares during the period. Finally, State Street Corp boosted its position in Bryn Mawr Bank Corporation by 18.0% in the fourth quarter. State Street Corp now owns 301,859 shares of the bank’s stock worth $12,723,000 after buying an additional 46,078 shares during the period. Institutional investors own 75.78% of the company’s stock.
About Bryn Mawr Bank Corporation
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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