Assenagon Asset Management S.A. Has $1.77 Million Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Assenagon Asset Management S.A. grew its position in Metropolitan Bank Holding Corp. (NYSE:MCB) by 33.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,000 shares of the company’s stock after purchasing an additional 10,579 shares during the period. Assenagon Asset Management S.A. owned about 0.38% of Metropolitan Bank worth $1,768,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MCB. CWM LLC lifted its stake in Metropolitan Bank by 70.1% in the second quarter. CWM LLC now owns 784 shares of the company’s stock valued at $33,000 after acquiring an additional 323 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Metropolitan Bank in the first quarter worth about $103,000. Johnson Investment Counsel Inc. acquired a new position in shares of Metropolitan Bank during the 4th quarter valued at about $266,000. SG Americas Securities LLC bought a new position in shares of Metropolitan Bank in the 2nd quarter valued at approximately $273,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Metropolitan Bank in the 4th quarter valued at approximately $447,000. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $67.50 price objective (up from $55.00) on shares of Metropolitan Bank in a report on Tuesday, July 23rd.

Metropolitan Bank Stock Performance

Shares of NYSE MCB opened at $48.78 on Thursday. Metropolitan Bank Holding Corp. has a 12 month low of $30.20 and a 12 month high of $57.69. The company has a market cap of $545.99 million, a P/E ratio of 8.02 and a beta of 1.16. The business’s 50 day moving average is $45.94 and its two-hundred day moving average is $42.21. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Metropolitan Bank (NYSE:MCB) last announced its earnings results on Thursday, July 18th. The company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.07). The company had revenue of $121.90 million for the quarter, compared to the consensus estimate of $68.02 million. Metropolitan Bank had a return on equity of 10.62% and a net margin of 15.22%. During the same period last year, the firm posted $1.37 EPS. On average, equities analysts expect that Metropolitan Bank Holding Corp. will post 6.03 EPS for the current year.

Insider Activity at Metropolitan Bank

In related news, EVP Scott Lublin sold 1,005 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $55.11, for a total transaction of $55,385.55. Following the transaction, the executive vice president now directly owns 57,077 shares in the company, valued at $3,145,513.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Scott Lublin sold 1,005 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $55.11, for a total value of $55,385.55. Following the completion of the transaction, the executive vice president now directly owns 57,077 shares of the company’s stock, valued at $3,145,513.47. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George J. Wolf, Jr. purchased 1,183 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were acquired at an average price of $39.00 per share, for a total transaction of $46,137.00. Following the purchase, the director now directly owns 27,995 shares of the company’s stock, valued at $1,091,805. The disclosure for this purchase can be found here. 6.50% of the stock is owned by corporate insiders.

Metropolitan Bank Company Profile

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.