Bryn Mawr Bank Corp. (BMTC) Sees Unusually-High Trading Volume
Bryn Mawr Bank Corp. (NASDAQ:BMTC) shares saw strong trading volume on Monday . 89,737 shares changed hands during trading, an increase of 41% from the previous session’s volume of 63,544 shares.The stock last traded at $28.70 and had previously closed at $28.84.
Several equities research analysts have recently commented on the company. FIG Partners assumed coverage on Bryn Mawr Bank Corp. in a research note on Thursday, May 19th. They issued an “outperform” rating for the company. Zacks Investment Research raised Bryn Mawr Bank Corp. from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, May 3rd. Finally, TheStreet raised Bryn Mawr Bank Corp. from a “hold” rating to a “buy” rating in a research note on Friday, May 6th.
The stock has a market capitalization of $481.69 million and a P/E ratio of 28.75. The company’s 50 day moving average is $29.21 and its 200-day moving average is $27.18.
Bryn Mawr Bank Corp. (NASDAQ:BMTC) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. During the same period in the prior year, the firm earned $0.51 earnings per share. Equities analysts predict that Bryn Mawr Bank Corp. will post $2.08 earnings per share for the current fiscal year.
In related news, EVP Geoffrey L. Halberstadt sold 4,250 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $28.60, for a total value of $121,550.00. Following the completion of the sale, the executive vice president now directly owns 11,859 shares in the company, valued at $339,167.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael Joseph Clement bought 2,000 shares of the business’s stock in a transaction on Thursday, May 12th. The shares were acquired at an average price of $28.30 per share, with a total value of $56,600.00. Following the completion of the purchase, the director now directly owns 27,770 shares of the company’s stock, valued at $785,891. The disclosure for this purchase can be found here.
A number of large investors have added to or reduced their stakes in BMTC. First Trust Advisors LP boosted its stake in Bryn Mawr Bank Corp. by 77.3% in the fourth quarter. First Trust Advisors LP now owns 36,307 shares of the company’s stock valued at $1,043,000 after buying an additional 15,829 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Bryn Mawr Bank Corp. by 1.5% in the fourth quarter. Wells Fargo & Company MN now owns 41,138 shares of the company’s stock valued at $1,182,000 after buying an additional 589 shares during the last quarter. Pear Tree Advisors Inc. acquired a new stake in Bryn Mawr Bank Corp. during the fourth quarter valued at $1,555,000. Philadelphia Trust Co. boosted its stake in Bryn Mawr Bank Corp. by 13.0% in the fourth quarter. Philadelphia Trust Co. now owns 91,800 shares of the company’s stock valued at $2,686,000 after buying an additional 10,550 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in Bryn Mawr Bank Corp. by 9.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 130,958 shares of the company’s stock valued at $3,761,000 after buying an additional 11,261 shares during the last quarter.
Bryn Mawr Bank Corporation is a holding company for The Bryn Mawr Trust Company (the Bank). The Company offers 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.
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