Morgan Stanley reduced its stake in Bryn Mawr Bank Corp. (NASDAQ:BMTC) by 25.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,742 shares of the bank’s stock after selling 7,458 shares during the quarter. Morgan Stanley’s holdings in Bryn Mawr Bank were worth $812,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of BMTC. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Bryn Mawr Bank in the second quarter worth approximately $25,000. Advisor Group Inc. lifted its stake in shares of Bryn Mawr Bank by 530.8% in the second quarter. Advisor Group Inc. now owns 820 shares of the bank’s stock worth $31,000 after acquiring an additional 690 shares during the period. Ellis Investment Partners LLC acquired a new position in shares of Bryn Mawr Bank in the second quarter worth approximately $37,000. Coastal Investment Advisors Inc. lifted its stake in shares of Bryn Mawr Bank by 12.9% in the second quarter. Coastal Investment Advisors Inc. now owns 4,375 shares of the bank’s stock worth $164,000 after acquiring an additional 500 shares during the period. Finally, Amica Retiree Medical Trust acquired a new position in shares of Bryn Mawr Bank in the second quarter worth approximately $195,000. 76.62% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on the company. Zacks Investment Research raised Bryn Mawr Bank from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. ValuEngine raised Bryn Mawr Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub raised Bryn Mawr Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Bryn Mawr Bank has an average rating of “Hold” and an average price target of $44.00.
Bryn Mawr Bank (NASDAQ:BMTC) last issued its earnings results on Thursday, October 17th. The bank reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.05. The business had revenue of $56.85 million during the quarter, compared to the consensus estimate of $57.45 million. Bryn Mawr Bank had a return on equity of 11.02% and a net margin of 22.13%. Equities analysts anticipate that Bryn Mawr Bank Corp. will post 3.09 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 1st will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.04 dividend on an annualized basis and a yield of 2.63%. Bryn Mawr Bank’s payout ratio is currently 30.06%.
In other Bryn Mawr Bank news, Director Andrea F. Gilbert sold 2,200 shares of Bryn Mawr Bank stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $35.44, for a total value of $77,968.00. Following the completion of the sale, the director now directly owns 31,607 shares in the company, valued at $1,120,152.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrea F. Gilbert sold 4,475 shares of Bryn Mawr Bank stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $35.63, for a total value of $159,444.25. Following the completion of the sale, the director now owns 31,607 shares of the company’s stock, valued at $1,126,157.41. The disclosure for this sale can be found here. Insiders own 1.39% 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.
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