Metropolitan Bank (NYSE:MCB) Trading Down 2.7% on Analyst Downgrade

Shares of Metropolitan Bank Holding Corp. (NYSE:MCB – Get Rating) dropped 2.7% on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $66.00 to $63.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Metropolitan Bank traded as low as $55.61 and last traded at $55.61. Approximately 3,004 shares were traded during trading, a decline of 95% from the average daily volume of 55,836 shares. The stock had previously closed at $57.14.

Institutional Investors Weigh In On Metropolitan Bank

A number of institutional investors have recently made changes to their positions in the stock. JCSD Capital LLC grew its position in shares of Metropolitan Bank by 44.5% in the 4th quarter. JCSD Capital LLC now owns 61,700 shares of the company’s stock valued at $3,620,000 after buying an additional 19,000 shares during the last quarter. Tealwood Asset Management Inc. grew its position in shares of Metropolitan Bank by 22.0% in the 4th quarter. Tealwood Asset Management Inc. now owns 14,947 shares of the company’s stock valued at $877,000 after buying an additional 2,700 shares during the last quarter. Cox Capital Mgt LLC grew its position in shares of Metropolitan Bank by 65.9% in the 4th quarter. Cox Capital Mgt LLC now owns 7,557 shares of the company’s stock valued at $443,000 after buying an additional 3,001 shares during the last quarter. Penn Capital Management Company LLC grew its position in shares of Metropolitan Bank by 21.5% in the 3rd quarter. Penn Capital Management Company LLC now owns 140,937 shares of the company’s stock valued at $9,080,000 after buying an additional 24,942 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Metropolitan Bank by 7.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 65,069 shares of the company’s stock valued at $4,187,000 after buying an additional 4,404 shares during the last quarter. Institutional investors own 81.07% of the company’s stock.

Metropolitan Bank Trading Down 1.3 %

The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average of $60.17 and a 200 day moving average of $66.10. The company has a market cap of $616.35 million, a P/E ratio of 10.68 and a beta of 1.12.

About Metropolitan Bank

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Metropolitan Bank Holding Corp. engages in the provision of banking solutions through its subsidiary, the Metropolitan Commercial Bank. It provides a range of business, commercial and retail banking products and services to small businesses, middle-market enterprises, public entities, and affluent individuals.