Zacks: Brokerages Anticipate Bryn Mawr Bank Corporation (NASDAQ:BMTC) Will Post Quarterly Sales of $46.85 Million
Wall Street analysts predict that Bryn Mawr Bank Corporation (NASDAQ:BMTC) will announce $46.85 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Bryn Mawr Bank Corporation’s earnings. The highest sales estimate is $49.23 million and the lowest is $44.47 million. Bryn Mawr Bank Corporation reported sales of $40.61 million in the same quarter last year, which indicates a positive year over year growth rate of 15.4%. The business is scheduled to issue its next quarterly earnings report on Thursday, October 19th.
According to Zacks, analysts expect that Bryn Mawr Bank Corporation will report full year sales of $46.85 million for the current financial year, with estimates ranging from $179.71 million to $187.43 million. For the next year, analysts expect that the business will report sales of $222.57 million per share, with estimates ranging from $217.26 million to $227.87 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Bryn Mawr Bank Corporation.
Bryn Mawr Bank Corporation (NASDAQ:BMTC) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. The business had revenue of $42.75 million during the quarter, compared to the consensus estimate of $42.40 million. Bryn Mawr Bank Corporation had a return on equity of 10.04% and a net margin of 21.17%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share.
Several analysts recently commented on BMTC shares. Zacks Investment Research raised shares of Bryn Mawr Bank Corporation from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Monday, April 24th. ValuEngine raised shares of Bryn Mawr Bank Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $44.00 target price on shares of Bryn Mawr Bank Corporation in a report on Thursday, April 20th. Boenning Scattergood raised shares of Bryn Mawr Bank Corporation from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Monday, July 24th. Finally, BidaskClub downgraded shares of Bryn Mawr Bank Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Bryn Mawr Bank Corporation has a consensus rating of “Hold” and a consensus target price of $48.00.
In related news, Director Scott Mahaley Jenkins sold 3,500 shares of Bryn Mawr Bank Corporation stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $43.75, for a total transaction of $153,125.00. Following the completion of the sale, the director now owns 13,908 shares of the company’s stock, valued at approximately $608,475. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.31% of the company’s stock.
A number of hedge funds have recently bought and sold shares of BMTC. Legal & General Group Plc increased its stake in Bryn Mawr Bank Corporation by 4.1% in the second quarter. Legal & General Group Plc now owns 4,266 shares of the bank’s stock worth $181,000 after buying an additional 167 shares in the last quarter. Rhumbline Advisers increased its stake in Bryn Mawr Bank Corporation by 2.7% in the second quarter. Rhumbline Advisers now owns 20,039 shares of the bank’s stock worth $852,000 after buying an additional 520 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Bryn Mawr Bank Corporation by 16.2% in the first quarter. Public Employees Retirement System of Ohio now owns 3,812 shares of the bank’s stock worth $151,000 after buying an additional 532 shares in the last quarter. Teachers Advisors LLC increased its stake in Bryn Mawr Bank Corporation by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 35,676 shares of the bank’s stock worth $1,504,000 after buying an additional 624 shares in the last quarter. Finally, American International Group Inc. increased its stake in Bryn Mawr Bank Corporation by 6.9% in the first quarter. American International Group Inc. now owns 10,235 shares of the bank’s stock worth $404,000 after buying an additional 661 shares in the last quarter. 75.95% of the stock is owned by hedge funds and other institutional investors.
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Shares of Bryn Mawr Bank Corporation (NASDAQ:BMTC) opened at 42.35 on Friday. Bryn Mawr Bank Corporation has a 12 month low of $28.85 and a 12 month high of $44.40. The stock has a 50 day moving average price of $42.22 and a 200-day moving average price of $41.16. The stock has a market cap of $719.48 million, a P/E ratio of 19.52 and a beta of 0.62.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Wednesday, August 2nd will be issued a dividend of $0.22 per share. This is an increase from Bryn Mawr Bank Corporation’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, July 31st. This represents a $0.88 annualized dividend and a dividend yield of 2.08%. Bryn Mawr Bank Corporation’s payout ratio is presently 40.37%.
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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