Prudential Financial Inc. Has $250,000 Position in Bryn Mawr Bank Corporation (BMTC)
Prudential Financial Inc. reduced its stake in shares of Bryn Mawr Bank Corporation (NASDAQ:BMTC) by 16.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,898 shares of the bank’s stock after selling 1,180 shares during the quarter. Prudential Financial Inc.’s holdings in Bryn Mawr Bank Corporation were worth $250,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in BMTC. Vanguard Group Inc. raised its holdings in shares of Bryn Mawr Bank Corporation by 8.5% during the 1st quarter. Vanguard Group Inc. now owns 736,604 shares of the bank’s stock valued at $29,096,000 after buying an additional 57,678 shares during the period. Dimensional Fund Advisors LP increased its holdings in Bryn Mawr Bank Corporation by 7.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 803,863 shares of the bank’s stock worth $31,753,000 after purchasing an additional 56,982 shares during the last quarter. Legato Capital Management LLC purchased a new stake in Bryn Mawr Bank Corporation during the 2nd quarter worth approximately $2,323,000. AQR Capital Management LLC increased its holdings in Bryn Mawr Bank Corporation by 139.6% during the 1st quarter. AQR Capital Management LLC now owns 43,900 shares of the bank’s stock worth $1,734,000 after purchasing an additional 25,581 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Bryn Mawr Bank Corporation by 3.8% during the 1st quarter. Renaissance Technologies LLC now owns 546,100 shares of the bank’s stock worth $21,571,000 after purchasing an additional 19,900 shares during the last quarter. Institutional investors and hedge funds own 79.19% of the company’s stock.
Shares of Bryn Mawr Bank Corporation (NASDAQ BMTC) opened at 44.50 on Friday. The stock has a market capitalization of $756.54 million, a P/E ratio of 20.51 and a beta of 0.63. Bryn Mawr Bank Corporation has a 12-month low of $29.50 and a 12-month high of $44.85. The firm’s 50-day moving average price is $42.07 and its 200 day moving average price is $41.70.
Bryn Mawr Bank Corporation (NASDAQ:BMTC) last announced its earnings results on Thursday, July 20th. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. Bryn Mawr Bank Corporation had a return on equity of 9.96% and a net margin of 21.17%. The firm had revenue of $42.75 million during the quarter, compared to the consensus estimate of $42.40 million. During the same quarter in the prior year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts predict that Bryn Mawr Bank Corporation will post $2.40 EPS for the current fiscal year.
Several equities research analysts have issued reports on the company. BidaskClub downgraded Bryn Mawr Bank Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded Bryn Mawr Bank Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Boenning Scattergood upgraded Bryn Mawr Bank Corporation from a “neutral” rating to an “outperform” rating and set a $50.00 price objective on the stock in a report on Monday, July 24th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $47.00 price objective on shares of Bryn Mawr Bank Corporation in a report on Sunday, July 23rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $48.50.
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In related news, Director Scott Mahaley Jenkins sold 3,500 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $43.75, for a total transaction of $153,125.00. Following the completion of the sale, the director now owns 13,908 shares in the company, valued at approximately $608,475. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.31% of the stock is owned by corporate insiders.
About Bryn Mawr Bank Corporation
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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