Bryn Mawr Bank Corporation (BMTC) Stake Held by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. continued to hold its stake in shares of Bryn Mawr Bank Corporation (NASDAQ:BMTC) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,478 shares of the bank’s stock at the end of the 2nd quarter. PNC Financial Services Group Inc. owned 0.19% of Bryn Mawr Bank Corporation worth $1,338,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of BMTC. SG Americas Securities LLC bought a new stake in Bryn Mawr Bank Corporation during the first quarter worth about $134,000. Public Employees Retirement System of Ohio lifted its stake in Bryn Mawr Bank Corporation by 16.2% during the first quarter. Public Employees Retirement System of Ohio now owns 3,812 shares of the bank’s stock worth $151,000 after purchasing an additional 532 shares during the last quarter. Legal & General Group Plc lifted its stake in Bryn Mawr Bank Corporation by 4.1% during the second quarter. Legal & General Group Plc now owns 4,266 shares of the bank’s stock worth $181,000 after purchasing an additional 167 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Bryn Mawr Bank Corporation during the second quarter worth about $205,000. Finally, Principal Financial Group Inc. bought a new stake in Bryn Mawr Bank Corporation during the second quarter worth about $271,000. 79.19% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Scott Mahaley Jenkins sold 3,500 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $43.75, for a total value of $153,125.00. Following the completion of the transaction, the director now 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 can be accessed through this hyperlink. 2.31% of the stock is currently owned by company insiders.
BMTC has been the subject of several research analyst reports. BidaskClub lowered Bryn Mawr Bank Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Boenning Scattergood raised Bryn Mawr Bank Corporation from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Monday, July 24th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $47.00 target price on shares of Bryn Mawr Bank Corporation in a research note on Sunday, July 23rd. Finally, Zacks Investment Research lowered Bryn Mawr Bank Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Two 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 company presently has an average rating of “Hold” and an average price target of $48.50.
Shares of Bryn Mawr Bank Corporation (NASDAQ BMTC) opened at 44.55 on Friday. The company has a market cap of $757.39 million, a price-to-earnings ratio of 20.53 and a beta of 0.63. The stock has a 50 day moving average price of $41.45 and a 200-day moving average price of $41.45. Bryn Mawr Bank Corporation has a 1-year low of $29.50 and a 1-year high of $44.85.
Bryn Mawr Bank Corporation (NASDAQ:BMTC) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. Bryn Mawr Bank Corporation had a net margin of 21.17% and a return on equity of 9.96%. The firm had revenue of $42.75 million during the quarter, compared to the consensus estimate of $42.40 million. During the same quarter last year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts forecast that Bryn Mawr Bank Corporation will post $2.40 earnings per share for the current year.
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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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