Bryn Mawr Bank (NASDAQ:BMTC) Upgraded by BidaskClub to Sell

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BidaskClub upgraded shares of Bryn Mawr Bank (NASDAQ:BMTC) from a strong sell rating to a sell rating in a research note released on Thursday morning, BidAskClub reports.

Other equities analysts have also recently issued reports about the company. Boenning Scattergood reiterated a neutral rating on shares of Bryn Mawr Bank in a report on Thursday, June 20th. Zacks Investment Research upgraded Bryn Mawr Bank from a sell rating to a hold rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $45.00.

Shares of NASDAQ BMTC traded up $0.32 during mid-day trading on Thursday, reaching $37.67. 4,112 shares of the company’s stock were exchanged, compared to its average volume of 47,849. The firm has a market capitalization of $725.05 million, a price-to-earnings ratio of 10.89 and a beta of 0.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 0.94. Bryn Mawr Bank has a 52-week low of $32.84 and a 52-week high of $48.60. The company’s 50-day moving average is $35.12 and its 200-day moving average is $36.96.

Bryn Mawr Bank (NASDAQ:BMTC) last released its quarterly earnings results on Thursday, July 18th. The bank reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The business had revenue of $56.83 million for the quarter, compared to analysts’ expectations of $58.54 million. Bryn Mawr Bank had a return on equity of 11.27% and a net margin of 22.71%. As a group, equities analysts predict that Bryn Mawr Bank will post 3.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 1st were given a $0.26 dividend. This is an increase from Bryn Mawr Bank’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 2.76%. The ex-dividend date was Wednesday, July 31st. Bryn Mawr Bank’s payout ratio is currently 30.06%.

In other Bryn Mawr Bank news, Director Andrea F. Gilbert sold 4,475 shares of Bryn Mawr Bank stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $35.63, for a total value of $159,444.25. Following the completion of the transaction, the director now directly owns 31,607 shares of the company’s stock, valued at approximately $1,126,157.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Andrea F. Gilbert sold 2,200 shares of Bryn Mawr Bank stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $35.44, for a total value of $77,968.00. Following the completion of the transaction, the director now directly owns 31,607 shares of the company’s stock, valued at $1,120,152.08. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMTC. Bank of America Corp DE grew its position in Bryn Mawr Bank by 253.3% in the 2nd quarter. Bank of America Corp DE now owns 246,881 shares of the bank’s stock valued at $9,213,000 after acquiring an additional 177,000 shares in the last quarter. Earnest Partners LLC acquired a new position in Bryn Mawr Bank in the 2nd quarter valued at about $3,860,000. Nuveen Asset Management LLC grew its position in Bryn Mawr Bank by 1,243.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 101,901 shares of the bank’s stock valued at $3,803,000 after acquiring an additional 94,318 shares in the last quarter. Wells Fargo & Company MN grew its position in Bryn Mawr Bank by 68.2% in the 2nd quarter. Wells Fargo & Company MN now owns 154,060 shares of the bank’s stock valued at $5,749,000 after acquiring an additional 62,479 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new position in Bryn Mawr Bank in the 1st quarter valued at about $1,134,000. 76.75% of the stock is owned by institutional investors.

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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