Bryn Mawr Bank Corp. (BMTC) Upgraded by Zacks Investment Research to “Hold”
Bryn Mawr Bank Corp. (NASDAQ:BMTC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “The Bryn Mawr Bank Corporation is a bank holding company. “
Separately, Keefe, Bruyette & Woods lifted their price target on shares of Bryn Mawr Bank Corp. from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday, July 25th.
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Shares of Bryn Mawr Bank Corp. (NASDAQ:BMTC) traded up 0.29% during mid-day trading on Wednesday, reaching $31.50. The company had a trading volume of 28,251 shares. The company’s 50-day moving average is $31.17 and its 200 day moving average is $28.70. Bryn Mawr Bank Corp. has a 52-week low of $23.92 and a 52-week high of $32.50. The stock has a market capitalization of $530.24 million, a P/E ratio of 29.89 and a beta of 0.75.
Bryn Mawr Bank Corp. (NASDAQ:BMTC) last posted its quarterly earnings results on Friday, July 22nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02. Bryn Mawr Bank Corp. had a net margin of 11.02% and a return on equity of 5.15%. Analysts anticipate that Bryn Mawr Bank Corp. will post $2.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 2nd were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.67%. This is a boost from Bryn Mawr Bank Corp.’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, July 29th. Bryn Mawr Bank Corp.’s payout ratio is presently 79.25%.
In other Bryn Mawr Bank Corp. news, Director Frederick C. Peters II sold 5,229 shares of Bryn Mawr Bank Corp. stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $31.74, for a total transaction of $165,968.46. Following the transaction, the director now directly owns 44,220 shares in the company, valued at approximately $1,403,542.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Joseph G. Keefer sold 10,000 shares of Bryn Mawr Bank Corp. stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $30.62, for a total transaction of $306,200.00. Following the transaction, the executive vice president now owns 7,565 shares in the company, valued at $231,640.30. The disclosure for this sale can be found here. Company insiders own 3.33% of the company’s stock.
A number of institutional investors have recently bought and sold shares of BMTC. Emerald Acquisition Ltd. purchased a new position in Bryn Mawr Bank Corp. during the second quarter valued at $105,000. BlackRock Inc. raised its stake in shares of Bryn Mawr Bank Corp. by 201.8% in the second quarter. BlackRock Inc. now owns 4,334 shares of the company’s stock worth $126,000 after buying an additional 2,898 shares during the period. BlackRock Group LTD raised its stake in shares of Bryn Mawr Bank Corp. by 52.3% in the first quarter. BlackRock Group LTD now owns 4,999 shares of the company’s stock worth $129,000 after buying an additional 1,717 shares during the period. Bank of Montreal Can bought a new stake in shares of Bryn Mawr Bank Corp. during the second quarter worth about $171,000. Finally, Royal Bank of Canada raised its stake in shares of Bryn Mawr Bank Corp. by 16,862.5% in the first quarter. Royal Bank of Canada now owns 6,785 shares of the company’s stock worth $175,000 after buying an additional 6,745 shares during the period. Hedge funds and other institutional investors own 68.92% of the company’s stock.
About Bryn Mawr Bank Corp.
Bryn Mawr Bank Corporation is a holding company for The Bryn Mawr Trust Company (the Bank). The Company offers 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.
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