Investment Counselors of Maryland LLC Acquires 6,470 Shares of Bryn Mawr Bank Corp. (NASDAQ:BMTC)
Investment Counselors of Maryland LLC raised its holdings in Bryn Mawr Bank Corp. (NASDAQ:BMTC) by 1.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 588,318 shares of the bank’s stock after purchasing an additional 6,470 shares during the quarter. Investment Counselors of Maryland LLC’s holdings in Bryn Mawr Bank were worth $21,956,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in Bryn Mawr Bank by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,040,142 shares of the bank’s stock valued at $35,781,000 after buying an additional 4,988 shares during the period. Ellis Investment Partners LLC bought a new stake in Bryn Mawr Bank in the second quarter valued at approximately $37,000. Cadence Capital Management LLC raised its stake in Bryn Mawr Bank by 1.8% in the first quarter. Cadence Capital Management LLC now owns 70,019 shares of the bank’s stock valued at $2,530,000 after buying an additional 1,232 shares during the period. Bank of America Corp DE raised its stake in Bryn Mawr Bank by 14.4% in the fourth quarter. Bank of America Corp DE now owns 71,850 shares of the bank’s stock valued at $2,471,000 after buying an additional 9,065 shares during the period. Finally, Steinberg Global Asset Management raised its stake in Bryn Mawr Bank by 14.2% in the first quarter. Steinberg Global Asset Management now owns 12,100 shares of the bank’s stock valued at $437,000 after buying an additional 1,500 shares during the period. Hedge funds and other institutional investors own 76.08% of the company’s stock.
Several equities analysts have recently commented on the company. FIG Partners reaffirmed an “outperform” rating on shares of Bryn Mawr Bank in a research report on Tuesday, April 23rd. BidaskClub downgraded Bryn Mawr Bank from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 26th. Zacks Investment Research raised Bryn Mawr Bank from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Boenning Scattergood reaffirmed a “neutral” rating on shares of Bryn Mawr Bank in a research report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Bryn Mawr Bank has a consensus rating of “Hold” and a consensus price target of $45.00.
Shares of Bryn Mawr Bank stock traded down $0.30 on Wednesday, hitting $34.58. The stock had a trading volume of 611 shares, compared to its average volume of 60,890. Bryn Mawr Bank Corp. has a twelve month low of $32.84 and a twelve month high of $50.05. The business’s 50 day moving average is $36.36 and its two-hundred day moving average is $37.46. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.37. The stock has a market cap of $716.19 million, a price-to-earnings ratio of 9.99 and a beta of 0.71.
Bryn Mawr Bank (NASDAQ:BMTC) last posted its earnings results on Thursday, July 18th. The bank reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). Bryn Mawr Bank had a net margin of 22.71% and a return on equity of 11.27%. The firm had revenue of $56.83 million during the quarter, compared to analyst estimates of $58.54 million. As a group, equities analysts predict that Bryn Mawr Bank Corp. will post 3.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 1st will be given a $0.26 dividend. This is an increase from Bryn Mawr Bank’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.04 annualized dividend and a dividend yield of 3.01%. Bryn Mawr Bank’s dividend payout ratio is presently 30.06%.
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. It operates in two segments, Wealth Management and Banking. The company accepts deposit products, including interest-bearing demand accounts, wholesale time deposits, retail time deposits, savings accounts, noninterest-bearing demand accounts, and wholesale non-maturity deposits, as well as NOW and market rate accounts.
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