Allspring Global Investments Holdings LLC Takes $103,000 Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Allspring Global Investments Holdings LLC purchased a new stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) 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.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings results on Thursday, April 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.18. Metropolitan Bank had a return on equity of 10.57% and a net margin of 15.82%. The company had revenue of $66.71 million during the quarter, compared to the consensus estimate of $63.97 million. As a group, equities analysts predict that Metropolitan Bank Holding Corp. will post 6.09 EPS for the current year.

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.

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.