Bryn Mawr Bank Corporation (BMTC) Given Consensus Recommendation of “Hold” by Brokerages
Bryn Mawr Bank Corporation (NASDAQ:BMTC) has been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $48.50.
BMTC has been the topic of several recent research reports. BidaskClub cut Bryn Mawr Bank Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods restated a “buy” rating and issued a $47.00 price target on shares of Bryn Mawr Bank Corporation in a research report on Sunday, July 23rd. Zacks Investment Research cut Bryn Mawr Bank Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Finally, Boenning Scattergood upgraded 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 report on Monday, July 24th.
In related news, EVP Joseph G. Keefer sold 11,500 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $44.18, for a total value of $508,070.00. Following the transaction, the executive vice president now owns 19,925 shares in the company, valued at approximately $880,286.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 the business. North Star Asset Management Inc. increased its position in Bryn Mawr Bank Corporation by 3.8% during the 3rd quarter. North Star Asset Management Inc. now owns 224,921 shares of the bank’s stock worth $8,885,000 after purchasing an additional 8,250 shares during the period. Kistler Tiffany Companies LLC increased its position in Bryn Mawr Bank Corporation by 2,952.5% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 2,442 shares of the bank’s stock worth $107,000 after purchasing an additional 2,362 shares during the period. Mutual of America Capital Management LLC increased its position in Bryn Mawr Bank Corporation by 2.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 146,720 shares of the bank’s stock worth $6,426,000 after purchasing an additional 3,984 shares during the period. Phocas Financial Corp. increased its position in Bryn Mawr Bank Corporation by 4.7% during the 2nd quarter. Phocas Financial Corp. now owns 290,617 shares of the bank’s stock worth $12,351,000 after purchasing an additional 12,962 shares during the period. Finally, Susquehanna International Group LLP acquired a new position in Bryn Mawr Bank Corporation during the 2nd quarter worth approximately $492,000. Institutional investors own 78.83% of the company’s stock.
Bryn Mawr Bank Corporation (NASDAQ:BMTC) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.05. The firm had revenue of $45.02 million for the quarter, compared to analysts’ expectations of $46.85 million. Bryn Mawr Bank Corporation had a return on equity of 10.24% and a net margin of 21.29%.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 1st will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.01%. The ex-dividend date is Tuesday, October 31st. Bryn Mawr Bank Corporation’s dividend payout ratio (DPR) is presently 39.11%.
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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