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10 Small Bank Stocks for Growth

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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FUBC $8.85 0.34%
ABCB $26.58 0.00%
BAC $12.70 -4.20%
BNCL $12.53 0.00%
C $39.86 0.00%


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