Deprince Race & Zollo Inc. Reduces Stake in Bryn Mawr Bank Corporation (BMTC)
Deprince Race & Zollo Inc. cut its position in Bryn Mawr Bank Corporation (NASDAQ:BMTC) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,429 shares of the bank’s stock after selling 4,750 shares during the quarter. Deprince Race & Zollo Inc. owned 1.15% of Bryn Mawr Bank Corporation worth $8,604,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Bryn Mawr Bank Corporation by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 860,056 shares of the bank’s stock valued at $36,553,000 after buying an additional 56,193 shares in the last quarter. Vanguard Group Inc. grew its stake in Bryn Mawr Bank Corporation by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 744,704 shares of the bank’s stock worth $31,650,000 after purchasing an additional 8,100 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Bryn Mawr Bank Corporation by 15.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 697,942 shares of the bank’s stock worth $29,662,000 after purchasing an additional 95,440 shares in the last quarter. Franklin Resources Inc. grew its stake in Bryn Mawr Bank Corporation by 200.4% during the 2nd quarter. Franklin Resources Inc. now owns 622,794 shares of the bank’s stock worth $26,469,000 after purchasing an additional 415,444 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Bryn Mawr Bank Corporation by 2.4% during the 2nd quarter. Renaissance Technologies LLC now owns 559,000 shares of the bank’s stock worth $23,758,000 after purchasing an additional 12,900 shares in the last quarter. 79.67% of the stock is owned by institutional investors and hedge funds.
Bryn Mawr Bank Corporation (BMTC) traded up $0.15 during trading hours on Friday, hitting $43.10. The stock had a trading volume of 22,600 shares, compared to its average volume of 50,637. The firm has a market cap of $732.86, a PE ratio of 18.59 and a beta of 0.63. Bryn Mawr Bank Corporation has a twelve month low of $35.00 and a twelve month high of $45.45. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.41.
Bryn Mawr Bank Corporation (NASDAQ:BMTC) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.05. The business had revenue of $45.02 million during the quarter, compared to analysts’ expectations of $46.85 million. Bryn Mawr Bank Corporation had a return on equity of 10.15% and a net margin of 21.29%. research analysts forecast that Bryn Mawr Bank Corporation will post 2.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 1st will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Tuesday, October 31st. Bryn Mawr Bank Corporation’s payout ratio is currently 39.11%.
In other 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 completion of the sale, the executive vice president now directly owns 19,925 shares of the company’s stock, valued at approximately $880,286.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.31% of the stock is currently owned by insiders.
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Several research analysts recently commented on the company. BidaskClub cut Bryn Mawr Bank Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut Bryn Mawr Bank Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. 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. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $47.00 target price on shares of Bryn Mawr Bank Corporation in a research note on Sunday, July 23rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $48.50.
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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