Bryn Mawr Bank Corp. (BMTC) Shares Bought by Renaissance Technologies LLC
Renaissance Technologies LLC raised its stake in Bryn Mawr Bank Corp. (NASDAQ:BMTC) by 7.0% during the second quarter, Holdings Channel reports. The firm owned 733,719 shares of the bank’s stock after purchasing an additional 47,803 shares during the period. Renaissance Technologies LLC’s holdings in Bryn Mawr Bank were worth $33,971,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in BMTC. SG Americas Securities LLC acquired a new position in shares of Bryn Mawr Bank in the 1st quarter valued at $105,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Bryn Mawr Bank in the 1st quarter valued at $129,000. Bank of Montreal Can acquired a new position in shares of Bryn Mawr Bank in the 2nd quarter valued at $148,000. ClariVest Asset Management LLC acquired a new position in shares of Bryn Mawr Bank in the 1st quarter valued at $203,000. Finally, Aperio Group LLC acquired a new position in shares of Bryn Mawr Bank in the 1st quarter valued at $209,000. Institutional investors own 73.00% of the company’s stock.
NASDAQ:BMTC opened at $47.55 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.38. The firm has a market cap of $968.75 million, a P/E ratio of 19.65 and a beta of 0.47. Bryn Mawr Bank Corp. has a twelve month low of $40.75 and a twelve month high of $50.35.
The firm also recently announced a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Wednesday, August 1st were issued a dividend of $0.25 per share. This is a positive change from Bryn Mawr Bank’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, July 31st. This represents a $1.00 annualized dividend and a dividend yield of 2.10%. Bryn Mawr Bank’s payout ratio is presently 41.32%.
A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Bryn Mawr Bank from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, July 24th. BidaskClub lowered shares of Bryn Mawr Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 30th. Finally, Sandler O’Neill lowered shares of Bryn Mawr Bank from a “buy” rating to a “hold” rating in a report on Friday, June 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $53.67.
In related news, Director Wendell F. Holland sold 1,500 shares of Bryn Mawr Bank stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $48.00, for a total transaction of $72,000.00. Following the transaction, the director now owns 14,303 shares in the company, valued at approximately $686,544. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Francis J. Leto sold 8,075 shares of Bryn Mawr Bank stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $49.47, for a total transaction of $399,470.25. Following the transaction, the chief executive officer now owns 48,123 shares in the company, valued at approximately $2,380,644.81. The disclosure for this sale can be found here. Insiders have sold a total of 31,115 shares of company stock worth $1,522,350 in the last 90 days. Company insiders own 1.95% of the company’s stock.
Bryn Mawr Bank Company Profile
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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