Alliancebernstein L.P. Raises Stock Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Alliancebernstein L.P. lifted its position in Metropolitan Bank Holding Corp. (NYSE:MCB) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,617 shares of the company’s stock after acquiring an additional 508 shares during the period. Alliancebernstein L.P. owned 0.48% of Metropolitan Bank worth $3,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Picton Mahoney Asset Management grew its stake in shares of Metropolitan Bank by 46.9% in the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock valued at $30,000 after buying an additional 161 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Metropolitan Bank by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,348 shares of the company’s stock valued at $1,772,000 after purchasing an additional 595 shares during the period. SG Americas Securities LLC increased its stake in shares of Metropolitan Bank by 9.1% during the fourth quarter. SG Americas Securities LLC now owns 9,342 shares of the company’s stock worth $546,000 after buying an additional 781 shares during the period. USA Financial Formulas acquired a new stake in shares of Metropolitan Bank in the 4th quarter valued at $66,000. Finally, Kings Path Partners LLC raised its position in shares of Metropolitan Bank by 11.2% during the 4th quarter. Kings Path Partners LLC now owns 14,110 shares of the company’s stock worth $824,000 after acquiring an additional 1,420 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Metropolitan Bank

In related news, Director Dale C. Fredston sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.27, for a total transaction of $62,270.00. Following the completion of the transaction, the director now owns 17,668 shares in the company, valued at $1,100,186.36. The trade was a 5.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott Lublin sold 5,000 shares of Metropolitan Bank stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $54.60, for a total value of $273,000.00. Following the sale, the executive vice president now directly owns 49,988 shares in the company, valued at approximately $2,729,344.80. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,088 shares of company stock worth $1,161,791 in the last 90 days. 6.50% of the stock is owned by corporate insiders.

Metropolitan Bank Stock Up 2.5 %

Shares of NYSE MCB opened at $52.02 on Wednesday. Metropolitan Bank Holding Corp. has a 1 year low of $32.46 and a 1 year high of $69.56. The firm’s 50 day moving average price is $56.35 and its 200 day moving average price is $58.96. 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 firm has a market cap of $583.94 million, a P/E ratio of 8.79 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 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.39. Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. As a group, sell-side analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current year.

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.