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BMTC - Bryn Mawr Bank's Earnings To Grow But Stock Appears Pricey
Bryn Mawr Bank Corporation
Bryn Mawr Bank Corporation (BMTC) posted earnings of $2.93 per share in 2019, which were mostly in line with expectations. Going forward, earnings are expected to increase on the back of continued loan portfolio expansion. However, an increase in provisions charge and low growth in non-interest expenses are expected to somewhat curtail bottom-line growth. Overall, earnings are expected to increase by 8% in 2020 to $3.16 per share. The estimated one-year ahead target price is quite close to BMTC's current market price; hence, I'm adopting a neutral rating on the stock.