Zacks Investment Research Downgrades Bryn Mawr Bank Corporation (BMTC) to Sell
Bryn Mawr Bank Corporation (NASDAQ:BMTC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.
According to Zacks, “The Bryn Mawr Bank Corporation is a bank holding company. “
A number of other equities analysts have also recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $47.00 target price on shares of Bryn Mawr Bank Corporation in a report on Sunday, July 23rd. Boenning Scattergood upgraded Bryn Mawr Bank Corporation from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Monday, July 24th. Finally, BidaskClub cut Bryn Mawr Bank Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Two research 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. The stock has a consensus rating of “Hold” and an average price target of $48.50.
Bryn Mawr Bank Corporation (NASDAQ:BMTC) traded down 2.77% during mid-day trading on Monday, hitting $43.90. 42,180 shares of the stock were exchanged. The stock has a 50 day moving average price of $42.59 and a 200 day moving average price of $41.86. Bryn Mawr Bank Corporation has a 1-year low of $29.50 and a 1-year high of $45.45. The company has a market capitalization of $746.34 million, a PE ratio of 20.23 and a beta of 0.63.
Bryn Mawr Bank Corporation (NASDAQ:BMTC) last issued its earnings results on Thursday, October 19th. The bank reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. Bryn Mawr Bank Corporation had a return on equity of 10.24% and a net margin of 21.29%. The company had revenue of $45.02 million for the quarter, compared to analysts’ expectations of $46.85 million. On average, equities analysts anticipate that Bryn Mawr Bank Corporation will post $2.42 earnings per share for the current fiscal year.
In related news, Director Scott Mahaley Jenkins sold 3,500 shares of the 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 of the company’s stock, valued at approximately $608,475. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.31% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMTC. Parametric Portfolio Associates LLC raised its position in Bryn Mawr Bank Corporation by 22.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 12,058 shares of the bank’s stock valued at $476,000 after buying an additional 2,238 shares during the last quarter. Prudential Financial Inc. purchased a new stake in Bryn Mawr Bank Corporation in the 1st quarter valued at $280,000. SG Americas Securities LLC purchased a new stake in Bryn Mawr Bank Corporation in the 1st quarter valued at $134,000. American International Group Inc. raised its position in Bryn Mawr Bank Corporation by 6.9% in the 1st quarter. American International Group Inc. now owns 10,235 shares of the bank’s stock valued at $404,000 after buying an additional 661 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in Bryn Mawr Bank Corporation by 1.8% in the 1st quarter. Teachers Advisors LLC now owns 36,323 shares of the bank’s stock valued at $1,435,000 after buying an additional 647 shares during the last quarter. 79.19% of the stock is owned by institutional investors and hedge funds.
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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