Bryn Mawr Bank Corp. (BMTC) Holdings Trimmed by Northern Trust Corp

Northern Trust Corp decreased its holdings in Bryn Mawr Bank Corp. (NASDAQ:BMTC) by 10.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 245,679 shares of the bank’s stock after selling 29,948 shares during the period. Northern Trust Corp owned about 1.21% of Bryn Mawr Bank worth $11,375,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Acuitas Investments LLC increased its stake in Bryn Mawr Bank by 226.8% in the second quarter. Acuitas Investments LLC now owns 58,736 shares of the bank’s stock worth $2,719,000 after purchasing an additional 40,765 shares during the period. BTIM Corp. purchased a new stake in Bryn Mawr Bank in the second quarter worth $4,521,000. Eagle Asset Management Inc. increased its stake in Bryn Mawr Bank by 6.2% in the second quarter. Eagle Asset Management Inc. now owns 72,516 shares of the bank’s stock worth $3,357,000 after purchasing an additional 4,225 shares during the period. Maltese Capital Management LLC increased its stake in Bryn Mawr Bank by 31.7% in the second quarter. Maltese Capital Management LLC now owns 196,300 shares of the bank’s stock worth $9,089,000 after purchasing an additional 47,200 shares during the period. Finally, BlackRock Inc. increased its stake in Bryn Mawr Bank by 9.8% in the second quarter. BlackRock Inc. now owns 1,433,242 shares of the bank’s stock worth $66,360,000 after purchasing an additional 127,754 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

In other news, Director Wendell F. Holland sold 1,500 shares of the stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $48.00, for a total transaction of $72,000.00. Following the transaction, the director now owns 14,303 shares of the company’s stock, valued at approximately $686,544. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Francis J. Leto sold 8,075 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $49.47, for a total value of $399,470.25. Following the transaction, the chief executive officer now directly owns 48,123 shares in the company, valued at approximately $2,380,644.81. The disclosure for this sale can be found here. Insiders have sold a total of 29,075 shares of company stock worth $1,422,655 in the last three months. Corporate insiders own 1.95% of the company’s stock.

BMTC opened at $40.26 on Friday. Bryn Mawr Bank Corp. has a 12-month low of $37.51 and a 12-month high of $50.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $818.72 million, a PE ratio of 12.48 and a beta of 0.64.

Bryn Mawr Bank (NASDAQ:BMTC) last posted its quarterly earnings results on Thursday, October 18th. The bank reported $0.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.82. Bryn Mawr Bank had a return on equity of 12.00% and a net margin of 16.74%. The business had revenue of $55.00 million for the quarter, compared to the consensus estimate of $55.90 million. On average, equities analysts expect that Bryn Mawr Bank Corp. will post 3.32 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Thursday, November 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Wednesday, October 31st. Bryn Mawr Bank’s payout ratio is 41.32%.

A number of research firms have weighed in on BMTC. BidaskClub upgraded Bryn Mawr Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. Zacks Investment Research lowered Bryn Mawr Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. FIG Partners upgraded Bryn Mawr Bank from a “market perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a research note on Tuesday, October 23rd. ValuEngine lowered Bryn Mawr Bank from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Finally, Boenning Scattergood downgraded Bryn Mawr Bank from an “outperform” rating to a “neutral” rating in a research report on Friday, October 19th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Bryn Mawr Bank presently has an average rating of “Hold” and a consensus target price of $51.75.

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About Bryn Mawr Bank

Bryn Mawr Bank Corporation operates as the bank holding company for The Bryn Mawr Trust Company that provides commercial and retail banking services to individual and business customers. The company accepts deposit products, including non-interest-bearing demand deposit, savings, NOW, and market rate accounts.

Further Reading: Understanding Analyst Ratings

Institutional Ownership by Quarter for Bryn Mawr Bank (NASDAQ:BMTC)

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