Point72 Asset Management L.P. Has $384,000 Stock Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Point72 Asset Management L.P. grew its position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 62.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,300 shares of the company’s stock after buying an additional 2,800 shares during the quarter. Point72 Asset Management L.P.’s holdings in Metropolitan Bank were worth $384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Basswood Capital Management L.L.C. lifted its position in Metropolitan Bank by 176.8% in the third quarter. Basswood Capital Management L.L.C. now owns 607,805 shares of the company’s stock worth $31,958,000 after purchasing an additional 388,200 shares during the period. Millennium Management LLC bought a new stake in shares of Metropolitan Bank in the 2nd quarter valued at approximately $4,991,000. Assenagon Asset Management S.A. raised its holdings in shares of Metropolitan Bank by 112.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 89,193 shares of the company’s stock worth $4,690,000 after buying an additional 47,193 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Metropolitan Bank in the 3rd quarter valued at $1,893,000. Finally, Marshall Wace LLP grew its holdings in shares of Metropolitan Bank by 193.1% in the 2nd quarter. Marshall Wace LLP now owns 50,350 shares of the company’s stock worth $2,119,000 after purchasing an additional 33,171 shares during the last quarter. Institutional investors own 79.83% of the company’s stock.

Insider Activity at Metropolitan Bank

In related news, SVP Norman Scott sold 1,473 shares of Metropolitan Bank stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.92, for a total transaction of $85,316.16. Following the completion of the transaction, the senior vice president now owns 11,732 shares in the company, valued at approximately $679,517.44. This trade represents a 11.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nick Rosenberg sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $65.17, for a total value of $81,462.50. Following the completion of the sale, the executive vice president now owns 30,193 shares in the company, valued at $1,967,677.81. This represents a 3.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,973 shares of company stock valued at $291,024. Corporate insiders own 6.50% of the company’s stock.

Metropolitan Bank Trading Down 1.1 %

Shares of NYSE:MCB opened at $65.70 on Friday. The company’s fifty day simple moving average is $60.60 and its 200 day simple moving average is $51.73. The firm has a market cap of $735.71 million, a price-to-earnings ratio of 12.35 and a beta of 1.16. 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 12 month low of $32.46 and a 12 month high of $69.56.

Metropolitan Bank (NYSE:MCB) last announced its earnings results on Thursday, October 17th. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.31. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%. The business had revenue of $71.52 million for the quarter, compared to analyst estimates of $66.70 million. As a group, research analysts forecast that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MCB has been the subject of a number of research analyst reports. Hovde Group lifted their target price on shares of Metropolitan Bank from $65.50 to $68.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods boosted their target price on Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

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.