Creative Planning Buys 8,271 Shares of Metropolitan Bank Holding Corp. $MCB

Creative Planning grew its stake in Metropolitan Bank Holding Corp. (NYSE:MCB) by 128.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,730 shares of the company’s stock after buying an additional 8,271 shares during the period. Creative Planning owned approximately 0.14% of Metropolitan Bank worth $1,031,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Avalon Trust Co bought a new position in shares of Metropolitan Bank in the 1st quarter valued at approximately $84,000. Corton Capital Inc. bought a new stake in Metropolitan Bank during the second quarter worth approximately $244,000. Strs Ohio acquired a new position in Metropolitan Bank during the first quarter valued at approximately $218,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Metropolitan Bank by 3.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company’s stock valued at $350,000 after purchasing an additional 237 shares during the period. Finally, Mackenzie Financial Corp bought a new position in shares of Metropolitan Bank in the first quarter valued at approximately $352,000. Institutional investors own 79.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Metropolitan Bank from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, October 27th. Zacks Research lowered shares of Metropolitan Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Metropolitan Bank in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.00.

Metropolitan Bank Trading Down 0.6%

Shares of MCB stock opened at $74.61 on Monday. The firm has a market capitalization of $768.48 million, a P/E ratio of 12.95 and a beta of 1.14. Metropolitan Bank Holding Corp. has a 1 year low of $47.08 and a 1 year high of $81.33. The firm’s fifty day simple moving average is $72.40 and its 200 day simple moving average is $71.94. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($1.28). Metropolitan Bank had a return on equity of 8.71% and a net margin of 12.46%.The company had revenue of $79.84 million during the quarter, compared to analyst estimates of $78.28 million. As a group, sell-side analysts predict that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Metropolitan Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Thursday, October 30th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, October 30th. Metropolitan Bank’s payout ratio is currently 10.42%.

Insider Transactions at Metropolitan Bank

In other Metropolitan Bank news, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $79.47, for a total value of $99,337.50. Following the completion of the sale, the executive vice president owned 28,339 shares in the company, valued at approximately $2,252,100.33. This trade represents a 4.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dale C. Fredston sold 3,000 shares of Metropolitan Bank stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $78.65, for a total value of $235,950.00. Following the sale, the director directly owned 14,168 shares in the company, valued at $1,114,313.20. The trade was a 17.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders bought 1,167 shares of company stock worth $83,010 and sold 9,875 shares worth $752,381. Corporate insiders own 6.09% of the company’s stock.

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.