LPL Financial LLC Makes New $956,000 Investment in Metropolitan Bank Holding Corp. (NYSE:MCB)

LPL Financial LLC acquired a new position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,378 shares of the company’s stock, valued at approximately $956,000. LPL Financial LLC owned about 0.15% of Metropolitan Bank at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MCB. Franklin Resources Inc. boosted its position in Metropolitan Bank by 44.8% during the third quarter. Franklin Resources Inc. now owns 82,922 shares of the company’s stock valued at $4,751,000 after purchasing an additional 25,654 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Metropolitan Bank by 68.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,819 shares of the company’s stock worth $807,000 after purchasing an additional 5,624 shares in the last quarter. Barclays PLC boosted its holdings in shares of Metropolitan Bank by 54.1% in the 3rd quarter. Barclays PLC now owns 23,461 shares of the company’s stock valued at $1,233,000 after buying an additional 8,233 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Metropolitan Bank in the fourth quarter valued at $1,405,000. Finally, JPMorgan Chase & Co. increased its holdings in Metropolitan Bank by 74.8% during the third quarter. JPMorgan Chase & Co. now owns 8,173 shares of the company’s stock worth $430,000 after buying an additional 3,497 shares during the last quarter. Institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Stock Performance

Shares of NYSE MCB opened at $54.43 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $610.92 million, a P/E ratio of 9.19 and a beta of 0.95. Metropolitan Bank Holding Corp. has a 12 month low of $37.10 and a 12 month high of $69.56. The stock has a 50 day moving average of $55.80 and a 200-day moving average of $59.04.

Metropolitan Bank (NYSE:MCB) last announced its earnings results on Thursday, January 23rd. The company reported $1.88 earnings per share 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, equities research analysts predict that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Insider Activity at Metropolitan Bank

In other Metropolitan Bank news, CEO Mark R. Defazio sold 15,088 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $54.78, for a total transaction 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 $5,512,401.84. The trade was a 13.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, the director now directly owns 17,668 shares in the company, valued at approximately $1,100,186.36. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,088 shares of company stock worth $1,161,791. Company insiders own 6.50% of the company’s stock.

Analysts Set New Price Targets

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

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.