Vanguard Group Inc. Acquires 10,545 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

Vanguard Group Inc. lifted its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 645,360 shares of the company’s stock after purchasing an additional 10,545 shares during the quarter. Vanguard Group Inc. owned 5.76% of Metropolitan Bank worth $37,689,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Picton Mahoney Asset Management increased its stake in Metropolitan Bank by 46.9% during the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock worth $30,000 after acquiring an additional 161 shares during the period. USA Financial Formulas acquired a new stake in shares of Metropolitan Bank during the 4th quarter worth $66,000. R Squared Ltd acquired a new stake in shares of Metropolitan Bank during the 4th quarter worth $91,000. KLP Kapitalforvaltning AS bought a new position in shares of Metropolitan Bank in the fourth quarter worth $128,000. Finally, Virtu Financial LLC acquired a new position in Metropolitan Bank in the fourth quarter valued at about $221,000. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Metropolitan Bank

In other news, CEO Mark R. Defazio sold 15,088 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $54.78, for a total value of $826,520.64. Following the completion of the transaction, the chief executive officer now directly owns 100,628 shares in the company, valued at approximately $5,512,401.84. This represents a 13.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dale C. Fredston sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $62.27, for a total value of $62,270.00. Following the sale, the director now directly owns 17,668 shares in the company, valued at approximately $1,100,186.36. This trade represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,088 shares of company stock valued at $1,161,791. 6.50% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Hovde Group raised their target price on shares of Metropolitan Bank from $75.00 to $83.50 and gave the company an “outperform” rating in a report on Monday, January 27th.

Metropolitan Bank Trading Up 0.3 %

Shares of MCB stock opened at $49.64 on Monday. Metropolitan Bank Holding Corp. has a fifty-two week low of $32.46 and a fifty-two week high of $69.56. The stock’s fifty day moving average price is $56.90 and its two-hundred day moving average price is $59.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $557.16 million, a PE ratio of 8.38 and a beta of 0.95.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings data on Thursday, January 23rd. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.39. Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. Equities analysts predict that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

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.