Bryn Mawr Bank Corp. (BMTC) Shares Bought by Cadence Capital Management LLC
Cadence Capital Management LLC grew its holdings in shares of Bryn Mawr Bank Corp. (NASDAQ:BMTC) by 7.7% in the 4th quarter, HoldingsChannel reports. The fund owned 37,133 shares of the bank’s stock after buying an additional 2,654 shares during the period. Cadence Capital Management LLC’s holdings in Bryn Mawr Bank were worth $1,641,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Legal & General Group Plc raised its stake in Bryn Mawr Bank by 4.1% during the second quarter. Legal & General Group Plc now owns 4,266 shares of the bank’s stock worth $181,000 after acquiring an additional 167 shares in the last quarter. Nationwide Fund Advisors raised its stake in Bryn Mawr Bank by 1.5% during the second quarter. Nationwide Fund Advisors now owns 12,139 shares of the bank’s stock worth $516,000 after acquiring an additional 178 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in Bryn Mawr Bank by 5.7% during the second quarter. Parametric Portfolio Associates LLC now owns 12,746 shares of the bank’s stock worth $542,000 after acquiring an additional 688 shares in the last quarter. Voya Investment Management LLC raised its stake in Bryn Mawr Bank by 8.3% during the second quarter. Voya Investment Management LLC now owns 10,955 shares of the bank’s stock worth $466,000 after acquiring an additional 837 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Bryn Mawr Bank by 1.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 74,842 shares of the bank’s stock worth $3,181,000 after acquiring an additional 930 shares in the last quarter. 68.64% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on BMTC. BidaskClub raised Bryn Mawr Bank from a “sell” rating to a “hold” rating in a research note on Saturday, January 13th. Zacks Investment Research raised Bryn Mawr Bank from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Thursday, February 1st. Boenning Scattergood reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Bryn Mawr Bank in a research note on Monday, January 29th. Finally, ValuEngine downgraded Bryn Mawr Bank from a “buy” rating to a “hold” rating in a research note on Saturday, November 25th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Bryn Mawr Bank currently has a consensus rating of “Buy” and a consensus price target of $49.00.
Bryn Mawr Bank (NASDAQ:BMTC) last released its quarterly earnings data on Monday, January 29th. The bank reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.01). Bryn Mawr Bank had a net margin of 12.20% and a return on equity of 10.53%. The firm had revenue of $45.86 million during the quarter, compared to analyst estimates of $45.47 million. analysts expect that Bryn Mawr Bank Corp. will post 3.07 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 9th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, February 8th. Bryn Mawr Bank’s dividend payout ratio is currently 65.19%.
In other news, Director Michael Joseph Clement acquired 2,800 shares of the stock in a transaction dated Thursday, February 8th. The stock was bought at an average price of $43.84 per share, with a total value of $122,752.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.31% of the company’s stock.
About Bryn Mawr Bank
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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