JPMorgan Chase & Co. Boosts Stake in Metropolitan Bank Holding Corp. (NYSE:MCB)

JPMorgan Chase & Co. raised its position in Metropolitan Bank Holding Corp. (NYSE:MCB) by 1,726.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 149,280 shares of the company’s stock after purchasing an additional 141,107 shares during the quarter. JPMorgan Chase & Co. owned 1.33% of Metropolitan Bank worth $8,718,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in MCB. Picton Mahoney Asset Management grew its position in 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 acquiring an additional 161 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Metropolitan Bank in the fourth quarter valued at approximately $66,000. R Squared Ltd purchased a new stake in Metropolitan Bank during the 4th quarter worth approximately $91,000. KLP Kapitalforvaltning AS acquired a new stake in Metropolitan Bank during the 4th quarter worth approximately $128,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Metropolitan Bank in the 3rd quarter valued at approximately $207,000. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Dale C. Fredston sold 1,000 shares of Metropolitan Bank stock in a transaction dated 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 owns 17,668 shares of the company’s stock, valued at $1,100,186.36. The trade was a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark R. Defazio sold 15,088 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 100,628 shares of the company’s stock, valued at approximately $5,512,401.84. This trade represents a 13.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,088 shares of company stock valued at $1,161,791. Insiders own 6.50% of the company’s stock.

Metropolitan Bank Trading Up 2.5 %

MCB opened at $52.02 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.36. Metropolitan Bank Holding Corp. has a 52 week low of $32.46 and a 52 week high of $69.56. The business’s 50 day moving average is $56.35 and its two-hundred day moving average is $58.96. The firm has a market cap of $583.94 million, a price-to-earnings ratio of 8.79 and a beta of 0.95.

Metropolitan Bank (NYSE:MCB) last announced its earnings results on Thursday, January 23rd. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.39. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. On average, research analysts predict that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current 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.