Bryn Mawr Bank Corporation (BMTC) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Bryn Mawr Bank Corporation (NASDAQ:BMTC) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 147,487 shares of the bank’s stock after buying an additional 6,552 shares during the period. Geode Capital Management LLC’s holdings in Bryn Mawr Bank Corporation were worth $5,825,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Bryn Mawr Bank Corporation during the first quarter valued at approximately $134,000. State Board of Administration of Florida Retirement System bought a new position in shares of Bryn Mawr Bank Corporation during the fourth quarter valued at approximately $241,000. Prudential Financial Inc. bought a new position in shares of Bryn Mawr Bank Corporation during the first quarter valued at approximately $280,000. Bank of Montreal Can raised its position in shares of Bryn Mawr Bank Corporation by 60.0% in the first quarter. Bank of Montreal Can now owns 8,676 shares of the bank’s stock valued at $342,000 after buying an additional 3,254 shares during the period. Finally, American International Group Inc. raised its position in shares of Bryn Mawr Bank Corporation by 6.9% in the first quarter. American International Group Inc. now owns 10,235 shares of the bank’s stock valued at $404,000 after buying an additional 661 shares during the period. 75.99% of the stock is owned by hedge funds and other institutional investors.

Shares of Bryn Mawr Bank Corporation (BMTC) opened at 41.85 on Thursday. Bryn Mawr Bank Corporation has a 1-year low of $29.50 and a 1-year high of $44.40. The firm’s 50-day moving average is $42.33 and its 200 day moving average is $41.25. The stock has a market capitalization of $711.49 million, a P/E ratio of 19.29 and a beta of 0.62.

Bryn Mawr Bank Corporation (NASDAQ:BMTC) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The business had revenue of $42.75 million during the quarter, compared to analyst estimates of $42.40 million. Bryn Mawr Bank Corporation had a net margin of 21.17% and a return on equity of 9.96%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. On average, analysts expect that Bryn Mawr Bank Corporation will post $2.40 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Wednesday, August 2nd will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, July 31st. This is a positive change from Bryn Mawr Bank Corporation’s previous quarterly dividend of $0.21. Bryn Mawr Bank Corporation’s dividend payout ratio (DPR) is presently 40.37%.

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Several equities analysts recently commented on BMTC shares. 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 raised shares of Bryn Mawr Bank Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Monday, April 24th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $44.00 price target on shares of Bryn Mawr Bank Corporation in a research report on Thursday, April 20th. Boenning Scattergood raised shares of Bryn Mawr Bank Corporation from a “neutral” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Monday, July 24th. Finally, BidaskClub lowered shares of Bryn Mawr Bank Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $48.00.

In related news, Director Scott Mahaley Jenkins sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $43.75, for a total transaction of $153,125.00. Following the transaction, the director now owns 13,908 shares of the company’s stock, valued at $608,475. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.31% of the stock is currently owned by company insiders.

Bryn Mawr Bank Corporation Company Profile

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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Institutional Ownership by Quarter for Bryn Mawr Bank Corporation (NASDAQ:BMTC)

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