Russell Investments Group Ltd. Grows Stake in Metropolitan Bank Holding Corp. (NYSE:MCB)

Russell Investments Group Ltd. grew its position in Metropolitan Bank Holding Corp. (NYSE:MCB) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,952 shares of the company’s stock after buying an additional 914 shares during the quarter. Russell Investments Group Ltd.’s holdings in Metropolitan Bank were worth $6,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCB. Patriot Financial Partners GP LP lifted its stake in Metropolitan Bank by 33.3% in the third quarter. Patriot Financial Partners GP LP now owns 668,684 shares of the company’s stock worth $24,260,000 after acquiring an additional 167,100 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings 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 acquiring an additional 158,745 shares during the period. Vanguard Group Inc. raised its holdings in Metropolitan Bank by 5.7% in the third quarter. Vanguard Group Inc. now owns 592,253 shares of the company’s stock worth $21,487,000 after purchasing an additional 32,032 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its stake in shares of Metropolitan Bank by 6.0% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 262,318 shares of the company’s stock worth $9,517,000 after acquiring an additional 14,800 shares in the last quarter. Finally, Harbor Advisors LLC increased its position in shares of Metropolitan Bank by 125.0% during the third quarter. Harbor Advisors LLC now owns 22,500 shares of the company’s stock worth $816,000 after purchasing an additional 12,500 shares in the last quarter. Institutional investors own 79.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MCB shares. JPMorgan Chase & Co. decreased their price target on Metropolitan Bank from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Keefe, Bruyette & Woods decreased their price target on shares of Metropolitan Bank from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, January 22nd.

Metropolitan Bank Stock Performance

MCB opened at $42.00 on Thursday. The firm has a 50 day moving average of $38.27 and a two-hundred day moving average of $42.06. The firm has a market capitalization of $469.92 million, a PE ratio of 6.91 and a beta of 1.14. The company has a current ratio of 1.01, a quick ratio of 1.02 and a debt-to-equity ratio of 0.68. Metropolitan Bank Holding Corp. has a 12-month low of $20.27 and a 12-month high of $57.15.

About Metropolitan Bank

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.