Bryn Mawr Bank Corp. (BMTC) Shares Sold by Northern Trust Corp

Northern Trust Corp cut its holdings in Bryn Mawr Bank Corp. (NASDAQ:BMTC) by 10.9% in the second quarter, Holdings Channel reports. The institutional investor owned 245,679 shares of the bank’s stock after selling 29,948 shares during the quarter. Northern Trust Corp’s holdings in Bryn Mawr Bank were worth $11,375,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Bryn Mawr Bank by 9.8% in the second quarter. BlackRock Inc. now owns 1,433,242 shares of the bank’s stock valued at $66,360,000 after buying an additional 127,754 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Bryn Mawr Bank by 7.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,016,091 shares of the bank’s stock valued at $47,046,000 after buying an additional 69,038 shares during the last quarter. Renaissance Technologies LLC raised its stake in Bryn Mawr Bank by 7.0% in the second quarter. Renaissance Technologies LLC now owns 733,719 shares of the bank’s stock valued at $33,971,000 after buying an additional 47,803 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Bryn Mawr Bank by 2.5% in the second quarter. Macquarie Group Ltd. now owns 409,499 shares of the bank’s stock worth $18,960,000 after purchasing an additional 9,822 shares during the last quarter. Finally, Maltese Capital Management LLC raised its stake in shares of Bryn Mawr Bank by 31.7% in the second quarter. Maltese Capital Management LLC now owns 196,300 shares of the bank’s stock worth $9,089,000 after purchasing an additional 47,200 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

Shares of NASDAQ:BMTC opened at $40.26 on Friday. Bryn Mawr Bank Corp. has a 52-week low of $37.51 and a 52-week high of $50.35. The stock has a market capitalization of $818.72 million, a PE ratio of 12.48 and a beta of 0.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.96.

Bryn Mawr Bank (NASDAQ:BMTC) last announced its quarterly earnings data on Thursday, October 18th. The bank reported $0.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.82. Bryn Mawr Bank had a return on equity of 12.00% and a net margin of 16.74%. The firm had revenue of $55.00 million during the quarter, compared to analysts’ expectations of $55.90 million. As a group, equities analysts predict that Bryn Mawr Bank Corp. will post 3.32 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Thursday, November 1st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, October 31st. Bryn Mawr Bank’s payout ratio is 41.32%.

Several brokerages have recently issued reports on BMTC. Zacks Investment Research upgraded Bryn Mawr Bank from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday, July 24th. BidaskClub cut Bryn Mawr Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 30th. Boenning Scattergood cut Bryn Mawr Bank from an “outperform” rating to a “neutral” rating in a research note on Friday, October 19th. ValuEngine cut Bryn Mawr Bank from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Finally, FIG Partners upgraded Bryn Mawr Bank from a “market perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a research note on Tuesday, October 23rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $51.75.

In related news, Director Andrea F. Gilbert sold 3,500 shares of Bryn Mawr Bank stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $48.83, for a total transaction of $170,905.00. Following the completion of the transaction, the director now directly owns 24,660 shares in the company, valued at $1,204,147.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Francis J. Leto sold 8,075 shares of Bryn Mawr Bank stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $49.47, for a total value of $399,470.25. Following the transaction, the chief executive officer now owns 48,123 shares of the company’s stock, valued at $2,380,644.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,075 shares of company stock valued at $1,422,655. Company insiders own 1.95% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Bryn Mawr Bank Corp. (BMTC) Shares Sold by Northern Trust Corp” was first published by WKRB News and is the sole property of of WKRB News. If you are viewing this article on another website, it was illegally copied and reposted in violation of US & international copyright and trademark law. The original version of this article can be accessed at https://www.wkrb13.com/2018/11/10/bryn-mawr-bank-corp-bmtc-shares-sold-by-northern-trust-corp.html.

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. The company accepts deposit products, including non-interest-bearing demand deposit, savings, NOW, and market rate accounts.

Recommended Story: Short Selling

Want to see what other hedge funds are holding BMTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bryn Mawr Bank Corp. (NASDAQ:BMTC).

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

Receive News & Ratings for Bryn Mawr Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bryn Mawr Bank and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply