Allspring Global Investments Holdings LLC purchased a new stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB – Free Report) during the 1st quarter, Holdings Channel reports. The fund purchased 2,674 shares of the company’s stock, valued at approximately $103,000.
Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Metropolitan Bank by 5.7% in the third quarter. Vanguard Group Inc. now owns 592,253 shares of the company’s stock valued at $21,487,000 after buying an additional 32,032 shares during the period. Knights of Columbus Asset Advisors LLC lifted its stake in Metropolitan Bank by 7.9% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 34,004 shares of the company’s stock valued at $1,883,000 after buying an additional 2,480 shares during the period. Harbor Advisors LLC lifted its stake in Metropolitan Bank by 10.1% in the fourth quarter. Harbor Advisors LLC now owns 24,783 shares of the company’s stock valued at $1,372,000 after buying an additional 2,283 shares during the period. Russell Investments Group Ltd. lifted its stake in Metropolitan Bank by 0.8% in the fourth quarter. Russell Investments Group Ltd. now owns 120,952 shares of the company’s stock valued at $6,698,000 after buying an additional 914 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in Metropolitan Bank in the fourth quarter valued at about $447,000. Institutional investors and hedge funds own 79.83% of the company’s stock.
Metropolitan Bank Stock Down 0.5 %
Shares of Metropolitan Bank stock opened at $47.35 on Friday. Metropolitan Bank Holding Corp. has a 1 year low of $30.20 and a 1 year high of $57.15. The business has a 50-day moving average of $41.85 and a two-hundred day moving average of $42.50. The company has a market capitalization of $529.85 million, a P/E ratio of 7.79 and a beta of 1.16. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.
Analyst Upgrades and Downgrades
Separately, JPMorgan Chase & Co. cut their target price on Metropolitan Bank from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th.
View Our Latest Analysis on MCB
Insider Buying and Selling
In other news, Director George J. Wolf, Jr. acquired 1,183 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average cost of $39.00 per share, for a total transaction of $46,137.00. Following the completion of the acquisition, the director now owns 27,995 shares in the company, valued at $1,091,805. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.50% of the stock is owned by corporate insiders.
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.
See Also
- Five stocks we like better than Metropolitan Bank
- What is a Death Cross in Stocks?
- Top 3 Beverage Stocks: Summer Earnings Reveal Key Trends
- Earnings Per Share Calculator: How to Calculate EPS
- This Financial Stock’s Earnings Signal a Buying Opportunity
- What is the S&P/TSX Index?
- Social Platform Stock Hits New Highs: Is More Growth Ahead?
Want to see what other hedge funds are holding MCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Metropolitan Bank Holding Corp. (NYSE:MCB – Free Report).
Receive News & Ratings for Metropolitan Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Metropolitan Bank and related companies with MarketBeat.com's FREE daily email newsletter.