Notable News to Watch: Bryn Mawr Bank Corporation (NASDAQ: BMTC)

Bryn Mawr Bank Corporation (NASDAQ: BMTC)stock observed trading -28.02% off 52-week high price. On the other end, the stock has been noted 10.35% away from low price over the last 52-weeks. The stock disclosed a move of -3.22% away from 50 day moving average and -5.30% away from 200 day moving average. Moving closer, we can see that shares have been trading -2.39% off 20-day moving average. It has market cap of $731.32M and dividend yield of 2.76%.

Bryn Mawr Bank Corporation (NASDAQ: BMTC), parent of The Bryn Mawr Trust Company (the “Bank”), announced net income of $15.8 million, or $0.78 diluted earnings per share for the three months ended June 30, 2019, as compared to net income of $10.7 million, or $0.53 diluted earnings per share, for the three months ended March 31, 2019, and $14.7 million, or $0.72 diluted earnings per share, for the three months ended June 30, 2018.

On a non-GAAP basis, core net income, which excludes income tax charges incurred in connection with the Tax Cuts and Jobs Act (“Tax Reform”), due diligence and merger-related expenses, one-time costs associated with our voluntary Years of Service Incentive Program (the “Incentive Program”), and other non-core income and expense items, as detailed in the appendix to this earnings release, was $15.8 million, or $0.78 diluted earnings per share, for the three months ended June 30, 2019, as compared to $14.2 million, or $0.70 diluted earnings per share, for the three months ended March 31, 2019, and $17.0 million, or $0.83 diluted earnings per share, for the three months ended June 30, 2018. Management believes the core net income measure is important in evaluating the Corporation’s performance on a more comparable basis between periods. A reconciliation of this and other non-GAAP to GAAP performance measures is included in the appendix to this earnings release.

Frank Leto, President commented and Chief Executive Officer, continuing “We continue to execute on our strategy as reflected in our second quarter results,”, “Despite the challenges of a flat yield curve and an increasingly competitive market for loans and deposits, we continue to produce solid results in both the Bank and Wealth businesses without compromising on the execution of longer term vision as demonstrated by our ongoing investments in talent and technology.”

Mr. Leto then continued, “I am also pleased to announce that the Board of Directors has approved a dividend increase of 4%, making this the ninth consecutive year the Corporation has raised its dividend.”

The Board of Directors of the Corporation declared a quarterly dividend of $0.26 per share, payable September 1, 2019 to shareholders of record as of August 1, 2019.

The USA based company Bryn Mawr Bank Corporation moved with change of -1.52% to $36.24 with the total traded volume of 72360 shares in recent session versus to an average volume of 52.72K. The stock was observed in the 5 days activity at -2.53%. The one month performance of stock was -3.77%. BMTC’s shares are at -3.69% for the quarter and driving a -22.65% return over the course of the past year and is now at 5.35% since this point in 2018.  Right now the stock beta is 0.69. The average volatility for the week and month was at 1.59% and 1.59% respectively. There are 20.18M shares outstanding and 19.85M shares are floated in market.

Leave a Reply

Your email address will not be published. Required fields are marked *