Denali Advisors LLC Reduces Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Denali Advisors LLC cut its position in Metropolitan Bank Holding Corp. (NYSE:MCBFree Report) by 64.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,500 shares of the company’s stock after selling 8,300 shares during the period. Denali Advisors LLC’s holdings in Metropolitan Bank were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. WINTON GROUP Ltd purchased a new stake in shares of Metropolitan Bank in the 3rd quarter valued at approximately $245,000. Swiss National Bank increased its position in shares of Metropolitan Bank by 10.4% in the 3rd quarter. Swiss National Bank now owns 23,400 shares of the company’s stock valued at $849,000 after purchasing an additional 2,200 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Metropolitan Bank by 44.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 513,242 shares of the company’s stock valued at $18,620,000 after purchasing an additional 158,745 shares during the last quarter. Coombe Bender & Co LLC increased its position in shares of Metropolitan Bank by 8.1% in the 2nd quarter. Coombe Bender & Co LLC now owns 8,818 shares of the company’s stock valued at $306,000 after purchasing an additional 663 shares during the last quarter. Finally, Citigroup Inc. increased its position in shares of Metropolitan Bank by 9,442.1% in the 2nd quarter. Citigroup Inc. now owns 36,260 shares of the company’s stock valued at $1,259,000 after purchasing an additional 35,880 shares during the last quarter. 79.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCB has been the topic of a number of recent analyst reports. Piper Sandler initiated coverage on shares of Metropolitan Bank in a research report on Friday, December 15th. They issued an “overweight” rating and a $60.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on shares of Metropolitan Bank from $62.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, March 4th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Metropolitan Bank from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd.

Get Our Latest Stock Analysis on MCB

Metropolitan Bank Trading Up 1.2 %

NYSE MCB opened at $38.50 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.02. The firm’s fifty day moving average price is $42.08 and its 200 day moving average price is $41.25. The company has a market capitalization of $426.97 million, a price-to-earnings ratio of 5.60 and a beta of 1.18. Metropolitan Bank Holding Corp. has a 12 month low of $15.75 and a 12 month high of $57.15.

Metropolitan Bank (NYSE:MCBGet Free Report) last issued its quarterly earnings results on Thursday, January 18th. The company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.23). The business had revenue of $63.56 million for the quarter, compared to analyst estimates of $60.96 million. Metropolitan Bank had a return on equity of 12.25% and a net margin of 19.16%. On average, sell-side analysts expect that Metropolitan Bank Holding Corp. will post 5.93 earnings per share for the current fiscal year.

Metropolitan Bank Profile

(Free Report)

Metropolitan Bank Holding Corp. operates as the bank holding company for Metropolitan Commercial Bank that provides a range of business, commercial, and retail banking products and services to small businesses, middle-market enterprises, public entities, and individuals in the New York metropolitan area.

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Institutional Ownership by Quarter for Metropolitan Bank (NYSE:MCB)

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