Metropolitan Bank Holding Corp. (NYSE:MCB) Position Raised by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its stake in Metropolitan Bank Holding Corp. (NYSE:MCB – Get Rating) by 24.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 319,526 shares of the company’s stock after buying an additional 62,005 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.92% of Metropolitan Bank worth $20,565,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MCB. Advisor Group Holdings Inc. lifted its stake in Metropolitan Bank by 34.2% in the first quarter. Advisor Group Holdings Inc. now owns 2,721 shares of the company’s stock valued at $277,000 after buying an additional 694 shares during the last quarter. American Century Companies Inc. lifted its stake in Metropolitan Bank by 27.9% in the first quarter. American Century Companies Inc. now owns 24,245 shares of the company’s stock valued at $2,467,000 after buying an additional 5,287 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Metropolitan Bank by 5,500.0% in the first quarter. PNC Financial Services Group Inc. now owns 392 shares of the company’s stock valued at $40,000 after buying an additional 385 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Metropolitan Bank by 57.8% in the first quarter. MetLife Investment Management LLC now owns 5,128 shares of the company’s stock valued at $522,000 after buying an additional 1,879 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Metropolitan Bank by 1.7% in the first quarter. BlackRock Inc. now owns 688,730 shares of the company’s stock valued at $70,092,000 after buying an additional 11,384 shares during the last quarter. 81.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered their price target on Metropolitan Bank from $66.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, January 23rd.

Insider Activity

In other news, EVP Scott Lublin sold 2,000 shares of the firm’s stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $58.01, for a total transaction of $116,020.00. Following the transaction, the executive vice president now directly owns 36,359 shares of the company’s stock, valued at $2,109,185.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.32% of the company’s stock.

Metropolitan Bank Price Performance

Shares of MCB opened at $55.39 on Tuesday. The firm has a market capitalization of $607.07 million, a price-to-earnings ratio of 10.49 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.95 and a current ratio of 0.95. Metropolitan Bank Holding Corp. has a one year low of $53.67 and a one year high of $107.35. The stock’s fifty day moving average is $58.10 and its 200-day moving average is $63.26.

Metropolitan Bank Company Profile

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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.