Bryn Mawr Bank Corporation’s (NASDAQ:BMTC) “Buy” Rating Reiterated at Keefe, Bruyette & Woods

Bryn Mawr Bank Corporation (NASDAQ:BMTC)‘s stock had its “buy” rating reiterated by research analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Sunday, July 23rd. They currently have a $47.00 price objective on the bank’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 16.19% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. ValuEngine raised shares of Bryn Mawr Bank Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research cut shares of Bryn Mawr Bank Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Bryn Mawr Bank Corporation currently has an average rating of “Hold” and a consensus price target of $48.00.

Shares of Bryn Mawr Bank Corporation (BMTC) traded down 0.37% during mid-day trading on Friday, reaching $40.45. 51,514 shares of the company were exchanged. Bryn Mawr Bank Corporation has a 12 month low of $29.50 and a 12 month high of $44.40. The firm has a market capitalization of $687.69 million, a PE ratio of 18.64 and a beta of 0.62. The company’s 50 day moving average price is $42.36 and its 200 day moving average price is $41.27.

Bryn Mawr Bank Corporation (NASDAQ:BMTC) last announced its earnings results on Thursday, July 20th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. The company had revenue of $42.75 million during the quarter, compared to analysts’ expectations of $42.40 million. Bryn Mawr Bank Corporation had a net margin of 21.17% and a return on equity of 9.96%. Bryn Mawr Bank Corporation’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 earnings per share. Equities analysts anticipate that Bryn Mawr Bank Corporation will post $2.40 earnings per share for the current year.

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In related news, Director Scott Mahaley Jenkins sold 3,500 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $43.75, for a total value of $153,125.00. Following the completion of the transaction, the director now owns 13,908 shares of the company’s stock, valued at $608,475. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.31% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Bryn Mawr Bank Corporation by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 860,056 shares of the bank’s stock valued at $36,553,000 after buying an additional 56,193 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Bryn Mawr Bank Corporation by 1.1% in the second quarter. Vanguard Group Inc. now owns 744,704 shares of the bank’s stock valued at $31,650,000 after buying an additional 8,100 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Bryn Mawr Bank Corporation by 15.8% in the second quarter. The Manufacturers Life Insurance Company now owns 697,942 shares of the bank’s stock valued at $29,662,000 after buying an additional 95,440 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Bryn Mawr Bank Corporation by 200.4% in the second quarter. Franklin Resources Inc. now owns 622,794 shares of the bank’s stock valued at $26,469,000 after buying an additional 415,444 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Bryn Mawr Bank Corporation by 2.4% in the second quarter. Renaissance Technologies LLC now owns 559,000 shares of the bank’s stock valued at $23,758,000 after buying an additional 12,900 shares during the last quarter. 75.78% of the stock is owned by hedge funds and other institutional investors.

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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