Zacks Investment Research Downgrades Bryn Mawr Bank (NASDAQ:BMTC) to Hold

Bryn Mawr Bank (NASDAQ:BMTC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “The Bryn Mawr Bank Corporation is a bank holding company. “

Several other research firms also recently weighed in on BMTC. Hovde Group downgraded shares of Bryn Mawr Bank from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $33.00 to $31.00 in a research report on Wednesday, July 22nd. Piper Sandler decreased their price objective on shares of Bryn Mawr Bank from $29.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday. Finally, BidaskClub downgraded shares of Bryn Mawr Bank from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $29.25.

Shares of BMTC traded down $0.11 during trading hours on Wednesday, hitting $24.87. 57,531 shares of the company were exchanged, compared to its average volume of 80,777. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $495.61 million, a PE ratio of 13.74 and a beta of 0.82. The firm has a fifty day simple moving average of $26.94 and a 200-day simple moving average of $26.89. Bryn Mawr Bank has a one year low of $22.20 and a one year high of $41.40.

Bryn Mawr Bank (NASDAQ:BMTC) last announced its earnings results on Monday, July 20th. The bank reported $0.77 EPS for the quarter, beating the consensus estimate of $0.45 by $0.32. The business had revenue of $60.16 million during the quarter, compared to the consensus estimate of $56.88 million. Bryn Mawr Bank had a return on equity of 6.14% and a net margin of 13.56%. Sell-side analysts expect that Bryn Mawr Bank will post 1.37 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC acquired a new stake in shares of Bryn Mawr Bank during the 2nd quarter valued at $7,172,000. Bank of America Corp DE raised its holdings in shares of Bryn Mawr Bank by 18.9% during the 2nd quarter. Bank of America Corp DE now owns 366,804 shares of the bank’s stock valued at $10,146,000 after purchasing an additional 58,215 shares in the last quarter. Macquarie Group Ltd. lifted its stake in shares of Bryn Mawr Bank by 7.5% in the 2nd quarter. Macquarie Group Ltd. now owns 837,680 shares of the bank’s stock valued at $23,170,000 after purchasing an additional 58,151 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Bryn Mawr Bank by 2.1% in the 1st quarter. Franklin Resources Inc. now owns 1,732,659 shares of the bank’s stock valued at $49,173,000 after purchasing an additional 35,223 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in Bryn Mawr Bank by 10.3% in the second quarter. Boston Trust Walden Corp now owns 255,704 shares of the bank’s stock worth $7,073,000 after purchasing an additional 23,912 shares in the last quarter. Hedge funds and other institutional investors own 78.49% of the company’s stock.

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. It operates in two segments, Wealth Management and Banking. The company accepts deposit products, including interest-bearing demand accounts, wholesale time deposits, retail time deposits, savings accounts, noninterest-bearing demand accounts, and wholesale non-maturity deposits, as well as NOW and market rate accounts.

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