Brokerages Anticipate Bryn Mawr Bank Corporation (BMTC) Will Post Quarterly Sales of $46.85 Million
Brokerages expect that Bryn Mawr Bank Corporation (NASDAQ:BMTC) will announce sales of $46.85 million for the current quarter, according to Zacks. Two analysts have made estimates for Bryn Mawr Bank Corporation’s earnings. The lowest sales estimate is $44.47 million and the highest is $49.23 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 company is scheduled to report 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 forecast 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 an average based on a survey of sell-side research analysts that cover Bryn Mawr Bank Corporation.
Bryn Mawr Bank Corporation (NASDAQ:BMTC) last issued its earnings results on Thursday, July 20th. The bank reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. The business had revenue of $42.75 million for the quarter, compared to analyst estimates of $42.40 million. Bryn Mawr Bank Corporation had a net margin of 21.17% and a return on equity of 9.96%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share.
A number of equities research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Bryn Mawr Bank Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research downgraded shares of Bryn Mawr Bank Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Boenning Scattergood raised shares of 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 note on Monday, July 24th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $47.00 price target on shares of Bryn Mawr Bank Corporation in a research note on Sunday, July 23rd. Finally, ValuEngine raised shares of Bryn Mawr Bank Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two 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’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $48.00.
Bryn Mawr Bank Corporation (NASDAQ BMTC) opened at 39.40 on Friday. The stock’s 50 day moving average is $41.44 and its 200-day moving average is $41.22. The stock has a market capitalization of $669.84 million, a price-to-earnings ratio of 18.16 and a beta of 0.62. Bryn Mawr Bank Corporation has a 12 month low of $29.50 and a 12 month high of $44.40.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 2nd were paid a dividend of $0.22 per share. 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 2.23%. The ex-dividend date of this dividend was Monday, July 31st. Bryn Mawr Bank Corporation’s dividend payout ratio is presently 40.37%.
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In related news, Director Scott Mahaley Jenkins sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $43.75, for a total transaction of $153,125.00. Following the sale, the director now directly owns 13,908 shares of the company’s stock, valued at approximately $608,475. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.31% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in BMTC. Teachers Advisors LLC increased its stake in Bryn Mawr Bank Corporation by 1.8% during the 4th quarter. Teachers Advisors LLC now owns 35,676 shares of the bank’s stock worth $1,504,000 after buying an additional 624 shares during the period. Bank of Montreal Can increased its stake in Bryn Mawr Bank Corporation by 60.0% during the 1st 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. LSV Asset Management increased its stake in Bryn Mawr Bank Corporation by 31.1% during the 1st 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 period. First Trust Advisors LP increased its stake in Bryn Mawr Bank Corporation by 49.1% during the 1st 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 period. Finally, Bank of New York Mellon Corp increased its stake in Bryn Mawr Bank Corporation by 3.1% during the 1st 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 period. 79.19% of the stock is currently owned by hedge funds and other institutional investors.
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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