Bryn Mawr Bank Corp. (NASDAQ:BMTC) was the recipient of a significant decrease in short interest during the month of December. As of December 29th, there was short interest totalling 118,304 shares, a decrease of 80.9% from the December 15th total of 619,564 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average trading volume of 40,858 shares, the short-interest ratio is currently 2.9 days.
Several research firms recently commented on BMTC. ValuEngine cut Bryn Mawr Bank from a “buy” rating to a “hold” rating in a research report on Saturday, November 25th. Zacks Investment Research cut Bryn Mawr Bank from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Finally, BidaskClub raised Bryn Mawr Bank from a “sell” rating to a “hold” rating in a research report on Saturday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $49.33.
Shares of Bryn Mawr Bank (NASDAQ BMTC) opened at $46.15 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.41. Bryn Mawr Bank has a 12-month low of $36.80 and a 12-month high of $46.70. The company has a market capitalization of $786.86, a price-to-earnings ratio of 20.51 and a beta of 0.62.
Bryn Mawr Bank (NASDAQ:BMTC) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.65 EPS for the quarter, beating the consensus estimate of $0.60 by $0.05. Bryn Mawr Bank had a return on equity of 10.15% and a net margin of 21.29%. The company had revenue of $45.02 million for the quarter, compared to analysts’ expectations of $46.85 million. research analysts predict that Bryn Mawr Bank will post 2.44 EPS for the current fiscal year.
In other news, EVP Joseph G. Keefer sold 11,500 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $44.18, for a total value of $508,070.00. Following the sale, the executive vice president now directly owns 19,925 shares of the company’s stock, valued at $880,286.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.31% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in shares of Bryn Mawr Bank by 4.3% during the third quarter. Dimensional Fund Advisors LP now owns 896,846 shares of the bank’s stock valued at $39,282,000 after buying an additional 36,790 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Bryn Mawr Bank by 1.1% during 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 lifted its holdings in Bryn Mawr Bank 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 acquiring an additional 95,440 shares during the period. Franklin Resources Inc. lifted its holdings in Bryn Mawr Bank 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 acquiring an additional 415,444 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Bryn Mawr Bank 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 acquiring an additional 12,900 shares during the period. 69.80% of the stock is currently owned by institutional investors.
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About Bryn Mawr Bank
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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