The Manufacturers Life Insurance Company Invests $207,000 in Metropolitan Bank Holding Corp. (NYSE:MCB)

The Manufacturers Life Insurance Company acquired a new position in Metropolitan Bank Holding Corp. (NYSE:MCB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,946 shares of the company’s stock, valued at approximately $207,000.

Other institutional investors also recently bought and sold shares of the company. Millennium Management LLC bought a new stake in Metropolitan Bank during the second quarter valued at about $4,991,000. Assenagon Asset Management S.A. lifted its position in shares of Metropolitan Bank by 112.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 89,193 shares of the company’s stock valued at $4,690,000 after buying an additional 47,193 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Metropolitan Bank during the 3rd quarter valued at approximately $1,893,000. Marshall Wace LLP increased its holdings in Metropolitan Bank by 193.1% in the 2nd quarter. Marshall Wace LLP now owns 50,350 shares of the company’s stock worth $2,119,000 after acquiring an additional 33,171 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Metropolitan Bank by 21.1% during the 2nd quarter. American Century Companies Inc. now owns 186,440 shares of the company’s stock worth $7,847,000 after acquiring an additional 32,491 shares during the period. 79.83% of the stock is owned by institutional investors.

Metropolitan Bank Price Performance

Shares of NYSE:MCB opened at $65.91 on Tuesday. The firm has a market cap of $738.06 million, a price-to-earnings ratio of 12.35 and a beta of 1.16. The firm has a fifty day moving average price of $60.83 and a 200 day moving average price of $52.02. Metropolitan Bank Holding Corp. has a fifty-two week low of $32.46 and a fifty-two week high of $69.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00.

Metropolitan Bank (NYSE:MCB) last released 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. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. The business had revenue of $71.52 million during the quarter, compared to the consensus estimate of $66.70 million. As a group, sell-side analysts expect that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Metropolitan Bank

In other Metropolitan Bank news, EVP Nick Rosenberg sold 1,250 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $65.17, for a total transaction of $81,462.50. Following the completion of the transaction, the executive vice president now owns 30,193 shares in the company, valued at $1,967,677.81. This trade represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert C. Patent sold 1,000 shares of Metropolitan Bank stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $55.32, for a total transaction of $55,320.00. Following the completion of the transaction, the director now directly owns 79,133 shares of the company’s stock, valued at $4,377,637.56. The trade was a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,973 shares of company stock worth $291,024 in the last quarter. 6.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MCB shares. Hovde Group increased their price objective on shares of Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Piper Sandler increased their price target on Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods boosted their price objective on Metropolitan Bank from $73.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

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.