Martingale Asset Management L P Sells 35,406 Shares of Bryn Mawr Bank Corp. (NASDAQ:BMTC)

Martingale Asset Management L P decreased its holdings in shares of Bryn Mawr Bank Corp. (NASDAQ:BMTC) by 60.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,400 shares of the bank’s stock after selling 35,406 shares during the period. Martingale Asset Management L P owned approximately 0.12% of Bryn Mawr Bank worth $846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the business. Morgan Stanley grew its position in Bryn Mawr Bank by 183.2% during the third quarter. Morgan Stanley now owns 179,062 shares of the bank’s stock worth $8,398,000 after buying an additional 115,839 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Bryn Mawr Bank by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 884,089 shares of the bank’s stock valued at $41,465,000 after buying an additional 28,152 shares during the period. Bank of Montreal Can grew its stake in shares of Bryn Mawr Bank by 11.6% in the 4th quarter. Bank of Montreal Can now owns 3,551 shares of the bank’s stock valued at $122,000 after buying an additional 369 shares during the period. Rhumbline Advisers grew its stake in shares of Bryn Mawr Bank by 39.0% in the 4th quarter. Rhumbline Advisers now owns 30,154 shares of the bank’s stock valued at $1,037,000 after buying an additional 8,456 shares during the period. Finally, Emerald Mutual Fund Advisers Trust grew its stake in shares of Bryn Mawr Bank by 39.4% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 70,764 shares of the bank’s stock valued at $2,434,000 after buying an additional 20,000 shares during the period. 76.18% of the stock is owned by institutional investors.

In other Bryn Mawr Bank news, Director Wendell F. Holland sold 4,475 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $37.33, for a total transaction of $167,051.75. Following the completion of the transaction, the director now owns 19,116 shares of the company’s stock, valued at approximately $713,600.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.39% of the company’s stock.

BMTC has been the subject of a number of research analyst reports. FIG Partners reaffirmed an “outperform” rating on shares of Bryn Mawr Bank in a research report on Tuesday, April 23rd. BidaskClub downgraded shares of Bryn Mawr Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. Zacks Investment Research downgraded shares of Bryn Mawr Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Bryn Mawr Bank in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $48.33.

NASDAQ:BMTC traded up $0.32 during trading hours on Friday, reaching $37.32. 101,628 shares of the stock were exchanged, compared to its average volume of 51,340. Bryn Mawr Bank Corp. has a twelve month low of $32.84 and a twelve month high of $50.35. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The company’s 50 day simple moving average is $37.45. The stock has a market capitalization of $734.36 million, a PE ratio of 10.79 and a beta of 0.73.

Bryn Mawr Bank (NASDAQ:BMTC) last released its quarterly earnings data on Thursday, April 18th. The bank reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.06). The company had revenue of $56.90 million for the quarter, compared to the consensus estimate of $55.60 million. Bryn Mawr Bank had a net margin of 22.62% and a return on equity of 11.73%. Analysts forecast that Bryn Mawr Bank Corp. will post 3.14 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Tuesday, April 30th. Bryn Mawr Bank’s payout ratio is 28.90%.

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

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