Bryn Mawr Bank Corporation (BMTC) Shares Sold by Investment Counselors of Maryland LLC
Investment Counselors of Maryland LLC decreased its position in Bryn Mawr Bank Corporation (NASDAQ:BMTC) by 7.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 521,067 shares of the bank’s stock after selling 41,900 shares during the quarter. Bryn Mawr Bank Corporation accounts for 1.2% of Investment Counselors of Maryland LLC’s portfolio, making the stock its 15th largest position. Investment Counselors of Maryland LLC owned about 3,056,111.44% of Bryn Mawr Bank Corporation worth $22,823,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in BMTC. Franklin Resources Inc. lifted its position in Bryn Mawr Bank Corporation by 200.4% in the 2nd quarter. Franklin Resources Inc. now owns 622,794 shares of the bank’s stock worth $26,469,000 after buying an additional 415,444 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Bryn Mawr Bank Corporation by 15.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 697,942 shares of the bank’s stock worth $29,662,000 after buying an additional 95,440 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Bryn Mawr Bank Corporation in the 2nd quarter worth approximately $2,482,000. Vanguard Group Inc. lifted its position in Bryn Mawr Bank Corporation by 8.5% in the 1st quarter. Vanguard Group Inc. now owns 736,604 shares of the bank’s stock worth $29,096,000 after buying an additional 57,678 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Bryn Mawr Bank Corporation by 7.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 803,863 shares of the bank’s stock worth $31,753,000 after buying an additional 56,982 shares during the last quarter. Institutional investors own 80.10% of the company’s stock.
In other Bryn Mawr Bank Corporation news, EVP Joseph G. Keefer sold 11,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $44.18, for a total value of $508,070.00. Following the completion of the sale, the executive vice president now owns 19,925 shares in the company, valued at $880,286.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.31% of the company’s stock.
A number of analysts recently weighed in on BMTC shares. Keefe, Bruyette & Woods restated a “buy” rating and issued a $47.00 target price on shares of Bryn Mawr Bank Corporation in a research 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 price objective for the company in a research report on Monday, July 24th. Zacks Investment Research downgraded Bryn Mawr Bank Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, BidaskClub downgraded Bryn Mawr Bank Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $48.50.
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Shares of Bryn Mawr Bank Corporation (BMTC) traded down $0.60 during mid-day trading on Wednesday, reaching $42.30. The company’s stock had a trading volume of 19,258 shares, compared to its average volume of 39,169. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. Bryn Mawr Bank Corporation has a 12-month low of $30.75 and a 12-month high of $45.45. The company has a market capitalization of $746.51, a P/E ratio of 18.94 and a beta of 0.63.
Bryn Mawr Bank Corporation (NASDAQ:BMTC) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm had revenue of $45.02 million during the quarter, compared to the consensus estimate of $46.85 million. equities analysts forecast that Bryn Mawr Bank Corporation will post 2.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.88 annualized dividend and a yield of 2.08%. Bryn Mawr Bank Corporation’s payout ratio is currently 39.11%.
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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