Bryn Mawr Bank (NASDAQ:BMTC) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Bryn Mawr Bank (NASDAQ:BMTC) from a strong-buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports. According to Zacks, “The Bryn Mawr Bank Corporation is a bank holding company. “ A number of other research analysts have also recently […]

Zacks Investment Research lowered shares of Bryn Mawr Bank (NASDAQ:BMTC) from a strong-buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

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

A number of other research analysts have also recently weighed in on BMTC. BidaskClub cut Bryn Mawr Bank from a sell rating to a strong sell rating in a research report on Tuesday, August 25th. Piper Sandler dropped their price objective on Bryn Mawr Bank from $29.00 to $27.00 and set a neutral rating for the company in a research report on Monday. Finally, Hovde Group cut Bryn Mawr Bank from an outperform rating to a market perform rating and dropped their price objective for the stock from $33.00 to $31.00 in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $29.25.

Shares of BMTC stock opened at $24.87 on Wednesday. Bryn Mawr Bank has a fifty-two week low of $22.20 and a fifty-two week high of $41.40. The stock has a market cap of $495.61 million, a P/E ratio of 13.74 and a beta of 0.82. The business has a fifty day simple moving average of $26.87 and a 200-day simple moving average of $26.88. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.27.

Bryn Mawr Bank (NASDAQ:BMTC) last announced its quarterly earnings results on Monday, July 20th. The bank reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.32. Bryn Mawr Bank had a return on equity of 6.14% and a net margin of 13.56%. The business had revenue of $60.16 million during the quarter, compared to analysts’ expectations of $56.88 million. On average, sell-side analysts anticipate that Bryn Mawr Bank will post 1.37 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd were issued a $0.27 dividend. This is a boost from Bryn Mawr Bank’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, July 31st. This represents a $1.08 annualized dividend and a yield of 4.34%. Bryn Mawr Bank’s payout ratio is 34.84%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Two Sigma Advisers LP grew its holdings in Bryn Mawr Bank by 12.7% in the 2nd quarter. Two Sigma Advisers LP now owns 27,519 shares of the bank’s stock valued at $761,000 after buying an additional 3,100 shares during the period. FinTrust Capital Advisors LLC grew its holdings in Bryn Mawr Bank by 48.9% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 2,650 shares of the bank’s stock valued at $73,000 after buying an additional 870 shares during the period. Bridgeway Capital Management Inc. grew its holdings in Bryn Mawr Bank by 121.2% in the 2nd quarter. Bridgeway Capital Management Inc. now owns 36,500 shares of the bank’s stock valued at $1,010,000 after buying an additional 20,000 shares during the period. Nuveen Asset Management LLC grew its holdings in Bryn Mawr Bank by 6.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 110,683 shares of the bank’s stock valued at $3,061,000 after buying an additional 6,850 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Bryn Mawr Bank by 5.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 130,583 shares of the bank’s stock valued at $3,612,000 after buying an additional 6,500 shares during the period. Institutional investors own 78.49% of the company’s stock.

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. 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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