Bryn Mawr Bank (BMTC) Rating Lowered to Hold at Zacks Investment Research

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

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

A number of other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Bryn Mawr Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 30th. Sandler O’Neill lowered shares of Bryn Mawr Bank from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $53.67.

Shares of NASDAQ:BMTC opened at $47.10 on Monday. The firm has a market cap of $969.76 million, a price-to-earnings ratio of 19.46 and a beta of 0.47. Bryn Mawr Bank has a 12-month low of $40.80 and a 12-month high of $50.35. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.96 and a quick ratio of 0.96.

Bryn Mawr Bank (NASDAQ:BMTC) last issued its earnings results on Thursday, July 19th. The bank reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.04). The company had revenue of $57.39 million for the quarter, compared to analyst estimates of $53.58 million. Bryn Mawr Bank had a net margin of 15.20% and a return on equity of 11.63%. equities analysts forecast that Bryn Mawr Bank will post 3.32 EPS for the current fiscal year.

In related news, Director Britton Murdoch sold 9,000 shares of Bryn Mawr Bank stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $49.10, for a total value of $441,900.00. Following the completion of the sale, the director now owns 31,390 shares of the company’s stock, valued at approximately $1,541,249. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrea F. Gilbert sold 3,500 shares of Bryn Mawr Bank stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $48.83, for a total transaction of $170,905.00. Following the completion of the sale, the director now directly owns 24,660 shares of the company’s stock, valued at approximately $1,204,147.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,115 shares of company stock valued at $1,522,350. 1.95% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its stake in shares of Bryn Mawr Bank by 83.6% in the 2nd quarter. Millennium Management LLC now owns 15,201 shares of the bank’s stock valued at $704,000 after purchasing an additional 6,920 shares during the last quarter. Zebra Capital Management LLC lifted its stake in shares of Bryn Mawr Bank by 158.4% in the 2nd quarter. Zebra Capital Management LLC now owns 17,474 shares of the bank’s stock valued at $809,000 after purchasing an additional 10,712 shares during the last quarter. MetLife Investment Advisors LLC lifted its stake in shares of Bryn Mawr Bank by 15.1% in the 2nd quarter. MetLife Investment Advisors LLC now owns 9,382 shares of the bank’s stock valued at $434,000 after purchasing an additional 1,231 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of Bryn Mawr Bank by 21.6% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 7,234 shares of the bank’s stock valued at $335,000 after purchasing an additional 1,284 shares during the last quarter. Finally, Zacks Investment Management lifted its stake in shares of Bryn Mawr Bank by 138.1% in the 2nd quarter. Zacks Investment Management now owns 66,717 shares of the bank’s stock valued at $3,089,000 after purchasing an additional 38,697 shares during the last quarter. 72.99% of the stock is owned by institutional investors and hedge funds.

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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