5,240 Shares in Metropolitan Bank Holding Corp. (NYSE:MCB) Purchased by Creative Planning

Creative Planning acquired a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,240 shares of the company’s stock, valued at approximately $276,000.

Several other hedge funds have also recently modified their holdings of MCB. CWM LLC increased its position in shares of Metropolitan Bank by 70.1% during 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. SummerHaven Investment Management LLC increased its position in shares of Metropolitan Bank by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 18,270 shares of the company’s stock valued at $769,000 after purchasing an additional 367 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of Metropolitan Bank during the 2nd quarter worth $27,000. Salzhauer Michael boosted its holdings in shares of Metropolitan Bank by 2.3% in the 2nd quarter. Salzhauer Michael now owns 38,100 shares of the company’s stock worth $1,604,000 after buying an additional 842 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Metropolitan Bank by 12.0% during the second quarter. Principal Financial Group Inc. now owns 13,591 shares of the company’s stock valued at $572,000 after buying an additional 1,456 shares during the period. Institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Stock Up 0.9 %

MCB stock opened at $61.89 on Friday. The stock has a 50-day simple moving average of $53.86 and a two-hundred day simple moving average of $48.01. Metropolitan Bank Holding Corp. has a twelve month low of $32.46 and a twelve month high of $64.10. The firm has a market capitalization of $692.55 million, a PE ratio of 11.63 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Thursday, October 17th. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.55 by $0.31. The company had revenue of $71.52 million during the quarter, compared to analysts’ expectations of $66.70 million. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.17%. On average, equities analysts predict that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling at Metropolitan Bank

In related news, Director Robert C. Patent sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $55.32, for a total value of $55,320.00. Following the transaction, the director now directly owns 79,133 shares in the company, valued at approximately $4,377,637.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Metropolitan Bank news, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $55.14, for a total transaction of $68,925.00. Following the transaction, the executive vice president now directly owns 31,443 shares of the company’s stock, valued at approximately $1,733,767.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert C. Patent sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $55.32, for a total transaction of $55,320.00. Following the completion of the sale, the director now directly owns 79,133 shares of the company’s stock, valued at $4,377,637.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,723 shares of company stock valued at $209,561 in the last 90 days. Corporate insiders own 6.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on MCB shares. JPMorgan Chase & Co. boosted their target price on shares of Metropolitan Bank from $55.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $67.50 price objective (up previously from $55.00) on shares of Metropolitan Bank in a research note on Tuesday, July 23rd. Finally, Hovde Group increased their price objective on Metropolitan Bank from $65.50 to $68.00 and gave the company an “outperform” rating in a report on Monday, October 21st.

Metropolitan Bank 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.