Zacks Investment Research upgraded shares of Bryn Mawr Bank (NASDAQ:BMTC) from a hold rating to a strong-buy rating in a report published on Wednesday morning. The brokerage currently has $53.00 target price on the bank’s stock.
According to Zacks, “The Bryn Mawr Bank Corporation is a bank holding company. “
Other equities analysts have also recently issued reports about the company. Boenning Scattergood reissued a buy rating and set a $50.00 price target on shares of Bryn Mawr Bank in a report on Monday, January 29th. BidaskClub raised Bryn Mawr Bank from a hold rating to a buy rating in a report on Thursday, March 29th. Finally, Keefe, Bruyette & Woods reissued a buy rating and set a $56.00 price target on shares of Bryn Mawr Bank in a report on Thursday, April 19th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Bryn Mawr Bank has a consensus rating of Buy and a consensus price target of $53.00.
Shares of NASDAQ BMTC traded down $0.15 during midday trading on Wednesday, hitting $45.75. 9,889 shares of the stock traded hands, compared to its average volume of 57,204. The stock has a market capitalization of $937.29, a price-to-earnings ratio of 18.97 and a beta of 0.60. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.93 and a quick ratio of 0.93. Bryn Mawr Bank has a one year low of $38.75 and a one year high of $47.20.
Bryn Mawr Bank (NASDAQ:BMTC) last released its quarterly earnings results on Thursday, April 19th. The bank reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.24. The firm had revenue of $56.98 million for the quarter, compared to analysts’ expectations of $51.25 million. Bryn Mawr Bank had a return on equity of 11.66% and a net margin of 14.05%. equities research analysts anticipate that Bryn Mawr Bank will post 3.27 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Tuesday, May 1st will be issued a dividend of $0.22 per share. The ex-dividend date is Monday, April 30th. This represents a $0.88 annualized dividend and a dividend yield of 1.92%. Bryn Mawr Bank’s payout ratio is 36.36%.
In related news, Director Diego F. Calderin bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were bought at an average cost of $45.99 per share, with a total value of $45,990.00. Following the acquisition, the director now owns 1,000 shares in the company, valued at $45,990. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Joseph Clement bought 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was bought at an average cost of $43.84 per share, for a total transaction of $122,752.00. The disclosure for this purchase can be found here. 1.95% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Bryn Mawr Bank by 7.1% in the 4th quarter. BlackRock Inc. now owns 1,290,587 shares of the bank’s stock worth $57,044,000 after purchasing an additional 85,723 shares during the period. Dimensional Fund Advisors LP raised its holdings in Bryn Mawr Bank by 4.3% during the third quarter. Dimensional Fund Advisors LP now owns 896,846 shares of the bank’s stock valued at $39,282,000 after acquiring an additional 36,790 shares during the period. Franklin Resources Inc. raised its holdings in Bryn Mawr Bank by 40.9% during the fourth quarter. Franklin Resources Inc. now owns 881,726 shares of the bank’s stock valued at $38,972,000 after acquiring an additional 256,126 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Bryn Mawr Bank by 0.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 702,322 shares of the bank’s stock valued at $31,042,000 after acquiring an additional 2,087 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Bryn Mawr Bank by 9.8% during the fourth quarter. Renaissance Technologies LLC now owns 623,057 shares of the bank’s stock valued at $27,539,000 after acquiring an additional 55,357 shares during the period. 72.52% of the stock is currently owned by institutional investors.
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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.
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