Bryn Mawr Bank (BMTC) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Bryn Mawr Bank (NASDAQ:BMTC) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

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

Several other equities analysts have also commented on BMTC. BidaskClub lowered shares of Bryn Mawr Bank from a sell rating to a strong sell rating in a research report on Tuesday, March 26th. Boenning Scattergood reiterated a hold rating on shares of Bryn Mawr Bank in a research report on Monday, April 22nd. Finally, Keefe, Bruyette & Woods lowered shares of Bryn Mawr Bank from an outperform rating to a market perform rating and lowered their price objective for the company from $55.00 to $44.00 in a research report on Tuesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Bryn Mawr Bank currently has a consensus rating of Hold and a consensus price target of $48.33.

BMTC stock opened at $37.47 on Wednesday. Bryn Mawr Bank has a 52 week low of $32.84 and a 52 week high of $50.35. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $755.51 million, a price-to-earnings ratio of 10.83 and a beta of 0.73.

Bryn Mawr Bank (NASDAQ:BMTC) last released its quarterly earnings data on Thursday, April 18th. The bank reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.06). Bryn Mawr Bank had a net margin of 22.62% and a return on equity of 11.85%. The business had revenue of $56.90 million for the quarter, compared to the consensus estimate of $55.60 million. Research analysts anticipate that Bryn Mawr Bank will post 3.09 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.00 annualized dividend and a yield of 2.67%. Bryn Mawr Bank’s dividend payout ratio (DPR) is currently 28.90%.

In other Bryn Mawr Bank news, Director Scott Mahaley Jenkins sold 4,475 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $40.03, for a total transaction of $179,134.25. Following the completion of the transaction, the director now owns 18,114 shares in the company, valued at $725,103.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.39% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of Bryn Mawr Bank by 2.2% in the 4th quarter. BlackRock Inc. now owns 1,491,168 shares of the bank’s stock worth $51,298,000 after acquiring an additional 32,045 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Bryn Mawr Bank by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,040,142 shares of the bank’s stock worth $35,781,000 after acquiring an additional 4,988 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of Bryn Mawr Bank by 3.3% in the 3rd quarter. Vanguard Group Inc now owns 884,089 shares of the bank’s stock worth $41,465,000 after acquiring an additional 28,152 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Bryn Mawr Bank by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 884,089 shares of the bank’s stock worth $41,465,000 after acquiring an additional 28,152 shares during the last quarter. Finally, Investment Counselors of Maryland LLC lifted its holdings in shares of Bryn Mawr Bank by 1.9% in the 4th quarter. Investment Counselors of Maryland LLC now owns 558,567 shares of the bank’s stock worth $19,215,000 after acquiring an additional 10,610 shares during the last quarter. Institutional investors and hedge funds own 75.99% 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. 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.

Further Reading: What does cost of debt say about a company’s financial health?

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