ValuEngine Downgrades Bryn Mawr Bank Corp. (BMTC) to Hold
Bryn Mawr Bank Corp. (NASDAQ:BMTC) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
Several other brokerages have also commented on BMTC. BidaskClub lowered Bryn Mawr Bank from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Zacks Investment Research lowered Bryn Mawr Bank from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $48.50.
Shares of Bryn Mawr Bank (NASDAQ BMTC) opened at $43.00 on Friday. The company has a market capitalization of $733.71, a price-to-earnings ratio of 18.61 and a beta of 0.63. Bryn Mawr Bank has a fifty-two week low of $35.50 and a fifty-two week high of $45.45. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.41.
Bryn Mawr Bank (NASDAQ:BMTC) last posted its earnings results on Thursday, October 19th. The bank reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.05. Bryn Mawr Bank had a return on equity of 10.15% and a net margin of 21.29%. The business had revenue of $45.02 million during the quarter, compared to analyst estimates of $46.85 million. sell-side analysts expect that Bryn Mawr Bank will post 2.45 earnings per share for the current year.
In related news, EVP Joseph G. Keefer sold 11,500 shares of Bryn Mawr Bank stock in a transaction on 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 owns 19,925 shares of the company’s stock, valued at $880,286.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.31% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of BMTC. Kistler Tiffany Companies LLC grew its holdings in shares of Bryn Mawr Bank by 2,952.5% in the third quarter. Kistler Tiffany Companies LLC now owns 2,442 shares of the bank’s stock worth $107,000 after acquiring an additional 2,362 shares during the period. SG Americas Securities LLC purchased a new position in Bryn Mawr Bank during the third quarter valued at $133,000. Public Employees Retirement System of Ohio lifted its position in Bryn Mawr Bank by 16.2% during the first quarter. Public Employees Retirement System of Ohio now owns 3,812 shares of the bank’s stock valued at $151,000 after purchasing an additional 532 shares in the last quarter. Legal & General Group Plc lifted its position 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 valued at $181,000 after purchasing an additional 167 shares in the last quarter. Finally, Citigroup Inc. lifted its position in Bryn Mawr Bank by 83.6% during the second quarter. Citigroup Inc. now owns 4,724 shares of the bank’s stock valued at $201,000 after purchasing an additional 2,151 shares in the last quarter. 80.57% of the stock is owned by institutional investors.
Bryn Mawr Bank Company Profile
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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