Brandywine Global Investment Management LLC reduced its position in shares of Bryn Mawr Bank Corporation (NASDAQ:BMTC) by 2.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,754 shares of the bank’s stock after selling 136 shares during the period. Brandywine Global Investment Management LLC’s holdings in Bryn Mawr Bank Corporation were worth $245,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in Bryn Mawr Bank Corporation by 200.4% in the second quarter. Franklin Resources Inc. now owns 622,794 shares of the bank’s stock worth $26,469,000 after acquiring an additional 415,444 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in Bryn Mawr Bank Corporation in the second quarter worth $2,482,000. Vanguard Group Inc. grew its position in Bryn Mawr Bank Corporation by 8.5% in the first quarter. Vanguard Group Inc. now owns 736,604 shares of the bank’s stock worth $29,096,000 after acquiring an additional 57,678 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Bryn Mawr Bank Corporation by 7.6% in the first quarter. Dimensional Fund Advisors LP now owns 803,863 shares of the bank’s stock worth $31,753,000 after acquiring an additional 56,982 shares in the last quarter. Finally, Legato Capital Management LLC purchased a new position in Bryn Mawr Bank Corporation in the second quarter worth $2,323,000. Hedge funds and other institutional investors own 79.19% of the company’s stock.
Several research analysts recently issued reports on BMTC shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $47.00 target price on shares of Bryn Mawr Bank Corporation in a research report on Sunday, July 23rd. Boenning Scattergood upgraded shares of Bryn Mawr Bank Corporation from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Monday, July 24th. Zacks Investment Research lowered shares of Bryn Mawr Bank Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, BidaskClub downgraded shares of Bryn Mawr Bank Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $48.50.
In other Bryn Mawr Bank Corporation news, Director Scott Mahaley Jenkins sold 3,500 shares of Bryn Mawr Bank Corporation stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $43.75, for a total value of $153,125.00. Following the completion of the transaction, the director now directly owns 13,908 shares of the company’s stock, valued at approximately $608,475. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.31% of the company’s stock.
Shares of Bryn Mawr Bank Corporation (BMTC) opened at 44.70 on Thursday. The company has a market capitalization of $759.94 million, a P/E ratio of 20.60 and a beta of 0.63. The firm has a 50-day moving average of $41.81 and a 200 day moving average of $41.62. Bryn Mawr Bank Corporation has a 1-year low of $29.50 and a 1-year high of $44.85.
Bryn Mawr Bank Corporation (NASDAQ:BMTC) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. Bryn Mawr Bank Corporation had a net margin of 21.17% and a return on equity of 9.96%. The business had revenue of $42.75 million during the quarter, compared to analysts’ expectations of $42.40 million. During the same period last year, the company posted $0.53 EPS. The business’s revenue was up 5.7% on a year-over-year basis. On average, analysts anticipate that Bryn Mawr Bank Corporation will post $2.40 EPS for the current year.
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Bryn Mawr Bank Corporation 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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