Bryn Mawr Bank (NASDAQ:BMTC) had its price objective reduced by Piper Sandler from $29.00 to $27.00 in a research note published on Monday morning, AnalystRatings.com reports. Piper Sandler currently has a neutral rating on the bank’s stock.
Several other equities research analysts have also weighed in on the company. BidaskClub lowered Bryn Mawr Bank from a sell rating to a strong sell rating in a research report on Tuesday, August 25th. Zacks Investment Research raised Bryn Mawr Bank from a hold rating to a buy rating and set a $29.00 target price on the stock in a research report on Monday, July 20th. Hovde Group lowered Bryn Mawr Bank from an outperform rating to a market perform rating and cut their target price for the stock from $33.00 to $31.00 in a research report on Wednesday, July 22nd. Finally, Stephens assumed coverage on Bryn Mawr Bank in a research report on Monday, June 1st. They set an equal weight rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Bryn Mawr Bank has an average rating of Hold and an average price target of $29.25.
Shares of BMTC opened at $25.30 on Monday. The stock has a 50-day simple moving average of $27.00 and a 200-day simple moving average of $26.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $504.18 million, a PE ratio of 13.98 and a beta of 0.82. Bryn Mawr Bank has a 1 year low of $22.20 and a 1 year high of $41.40.
Bryn Mawr Bank (NASDAQ:BMTC) last issued its earnings results on Monday, July 20th. The bank reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $56.88 million. Analysts predict that Bryn Mawr Bank will post 1.37 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd were given a dividend of $0.27 per share. This is a positive change from Bryn Mawr Bank’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.08 annualized dividend and a yield of 4.27%. Bryn Mawr Bank’s payout ratio is 34.84%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMTC. ProShare Advisors LLC acquired a new position in Bryn Mawr Bank during the second quarter worth approximately $7,172,000. Bank of America Corp DE increased its holdings in shares of Bryn Mawr Bank by 18.9% in the second quarter. Bank of America Corp DE now owns 366,804 shares of the bank’s stock valued at $10,146,000 after purchasing an additional 58,215 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Bryn Mawr Bank by 7.5% in the second quarter. Macquarie Group Ltd. now owns 837,680 shares of the bank’s stock valued at $23,170,000 after purchasing an additional 58,151 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Bryn Mawr Bank by 163.9% in the first quarter. Acadian Asset Management LLC now owns 60,581 shares of the bank’s stock valued at $1,718,000 after purchasing an additional 37,623 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Bryn Mawr Bank by 2.1% in the first quarter. Franklin Resources Inc. now owns 1,732,659 shares of the bank’s stock valued at $49,173,000 after purchasing an additional 35,223 shares during the period. 78.49% of the stock is currently owned by institutional investors.
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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