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10 Small Bank Stocks for Growth

Stocks in this article: C BAC JPM WFC FUBC BNCL ABCB FFCH HFWA FPTB BOFI BMTC TNCC ESSA RF TCB BPFH

7. Bryn Mawr Bank Corp.

Shares of Bryn Mawr Bank Corp. (BMTC) of Bryn Mawr, Pa., closed at $19.99 Friday, returning 9% over the previous year. With a quarterly payout of 15 cents, the shares have a dividend yield of 3.00%.

Based on a consensus price target of $24.25, the shares have 21% upside potential.

The company had $1.7 billion in total assets as of December 31, with the balance sheet expanding 40% during 2010, mainly from the acquisition of First Keystone Financial in July.

Bryn Mawr Bank Corp. raised $26.3 million in common equity last May.

The company announced in February an agreement to purchase the private wealth management unit of Hershey Trust Company for $18.3 million, including $8.2 million in cash, $6.5 million in common shares, and pay the remaining $3.6 million in cash installments over an 18-month period following completion of the deal. The acquisition is expected to be completed during the second quarter.

2010 net income was $9.2 million, or 85 cents a share. The consensus estimates are for earnings of $1.48 a share in 2011 and $1.79 in 2012.

In February, Stifel Nicolaus snalyst Collyn Gilbert upgraded Bryn Mawr Bank Corp. to a "buy" with a price target of $26, saying the company had "grown to a level of becoming well positioned to take share in a fragmented market" in the Philadelphia area, and that its balance sheet had "reliance on longer-term fixed rated assets, placing it in a more favorable position in the event interest rates should rise."

All three analysts covering Bryn Mawr Bank Corp. rate the shares a buy.

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