Bryn Mawr Bank Corporation (BMTC) Given Average Recommendation of “Hold” by Brokerages
Shares of Bryn Mawr Bank Corporation (NASDAQ:BMTC) have received a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $48.50.
BMTC has been the subject of several recent research reports. ValuEngine raised Bryn Mawr Bank Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research raised Bryn Mawr Bank Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Monday, April 24th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $47.00 price target on shares of Bryn Mawr Bank Corporation in a report on Sunday, July 23rd. Boenning Scattergood raised Bryn Mawr Bank Corporation from a “neutral” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Monday, July 24th. Finally, BidaskClub downgraded Bryn Mawr Bank Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th.
Bryn Mawr Bank Corporation (BMTC) opened at 40.30 on Friday. The firm has a market capitalization of $685.14 million, a PE ratio of 18.57 and a beta of 0.62. Bryn Mawr Bank Corporation has a 1-year low of $29.50 and a 1-year high of $44.40. The company has a 50 day moving average of $42.36 and a 200 day moving average of $41.27.
Bryn Mawr Bank Corporation (NASDAQ:BMTC) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. Bryn Mawr Bank Corporation had a return on equity of 9.96% and a net margin of 21.17%. The firm had revenue of $42.75 million during the quarter, compared to the consensus estimate of $42.40 million. During the same period last year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts forecast that Bryn Mawr Bank Corporation will post $2.40 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 2nd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, July 31st. This represents a $0.88 dividend on an annualized basis and a yield of 2.18%. This is an increase from Bryn Mawr Bank Corporation’s previous quarterly dividend of $0.21. Bryn Mawr Bank Corporation’s dividend payout ratio (DPR) is 40.37%.
In other Bryn Mawr Bank Corporation news, Director Scott Mahaley Jenkins sold 3,500 shares of the firm’s 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 owns 13,908 shares of the company’s stock, valued at $608,475. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.31% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in Bryn Mawr Bank Corporation during the first quarter worth approximately $134,000. 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 during the period. 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 during the period. Citigroup Inc. increased its stake in Bryn Mawr Bank Corporation by 83.6% in the second quarter. Citigroup Inc. now owns 4,724 shares of the bank’s stock worth $201,000 after buying an additional 2,151 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in Bryn Mawr Bank Corporation during the second quarter worth approximately $205,000. 75.78% of the stock is owned by institutional investors.
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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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