Bryn Mawr Bank Corp. (BMTC) Position Increased by Millennium Management LLC

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Millennium Management LLC boosted its position in shares of Bryn Mawr Bank Corp. (NASDAQ:BMTC) by 83.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 15,201 shares of the bank’s stock after purchasing an additional 6,920 shares during the quarter. Millennium Management LLC owned about 0.08% of Bryn Mawr Bank worth $704,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Acuitas Investments LLC grew its position in Bryn Mawr Bank by 226.8% during the 2nd quarter. Acuitas Investments LLC now owns 58,736 shares of the bank’s stock valued at $2,719,000 after purchasing an additional 40,765 shares during the last quarter. BTIM Corp. purchased a new stake in Bryn Mawr Bank during the 2nd quarter valued at about $4,521,000. Maltese Capital Management LLC grew its position in Bryn Mawr Bank by 31.7% during the 2nd quarter. Maltese Capital Management LLC now owns 196,300 shares of the bank’s stock valued at $9,089,000 after purchasing an additional 47,200 shares during the last quarter. Eagle Asset Management Inc. grew its position in Bryn Mawr Bank by 6.2% during the 2nd quarter. Eagle Asset Management Inc. now owns 72,516 shares of the bank’s stock valued at $3,357,000 after purchasing an additional 4,225 shares during the last quarter. Finally, BlackRock Inc. grew its position in Bryn Mawr Bank by 9.8% during the 2nd quarter. BlackRock Inc. now owns 1,433,242 shares of the bank’s stock valued at $66,360,000 after purchasing an additional 127,754 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

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

BMTC opened at $40.69 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. The stock has a market cap of $815.48 million, a price-to-earnings ratio of 16.81 and a beta of 0.64. Bryn Mawr Bank Corp. has a 52-week low of $37.51 and a 52-week high of $50.35.

Bryn Mawr Bank (NASDAQ:BMTC) last posted its earnings results on Thursday, October 18th. The bank reported $0.82 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.82. The business had revenue of $55.00 million for the quarter, compared to analysts’ expectations of $55.90 million. Bryn Mawr Bank had a net margin of 16.74% and a return on equity of 12.00%. As a group, analysts expect that Bryn Mawr Bank Corp. will post 3.32 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Thursday, November 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Wednesday, October 31st. Bryn Mawr Bank’s dividend payout ratio is currently 41.32%.

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

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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.

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

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