Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC grew its stake in Metropolitan Bank Holding Corp. (NYSE:MCB) by 31.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,788 shares of the company’s stock after purchasing an additional 15,240 shares during the quarter. Acadian Asset Management LLC’s holdings in Metropolitan Bank were worth $2,683,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Metropolitan Bank by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 628,996 shares of the company’s stock valued at $24,216,000 after purchasing an additional 27,499 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its stake in Metropolitan Bank by 1.4% during the first quarter. Pacific Ridge Capital Partners LLC now owns 266,521 shares of the company’s stock worth $10,261,000 after acquiring an additional 3,767 shares during the period. Banc Funds Co. LLC raised its stake in Metropolitan Bank by 1.3% during the fourth quarter. Banc Funds Co. LLC now owns 235,664 shares of the company’s stock worth $13,051,000 after acquiring an additional 3,000 shares during the period. Basswood Capital Management L.L.C. raised its stake in Metropolitan Bank by 226.5% during the fourth quarter. Basswood Capital Management L.L.C. now owns 159,279 shares of the company’s stock worth $8,821,000 after acquiring an additional 110,493 shares during the period. Finally, Ranger Investment Management L.P. raised its stake in Metropolitan Bank by 4.0% during the fourth quarter. Ranger Investment Management L.P. now owns 146,578 shares of the company’s stock worth $8,117,000 after acquiring an additional 5,575 shares during the period. Institutional investors and hedge funds own 79.83% of the company’s stock.

Analyst Ratings Changes

MCB has been the topic of several research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $67.50 price objective (up previously from $55.00) on shares of Metropolitan Bank in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. increased their price objective on shares of Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd.

Insider Activity

In other news, EVP Scott Lublin sold 1,005 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $55.11, for a total value of $55,385.55. Following the completion of the transaction, the executive vice president now directly owns 57,077 shares in the company, valued at $3,145,513.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Scott Lublin sold 1,005 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $55.11, for a total value of $55,385.55. Following the completion of the transaction, the executive vice president now directly owns 57,077 shares in the company, valued at $3,145,513.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark R. Defazio sold 34,986 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $55.34, for a total transaction of $1,936,125.24. Following the completion of the transaction, the chief executive officer now owns 181,208 shares of the company’s stock, valued at $10,028,050.72. The disclosure for this sale can be found here. Insiders own 6.50% of the company’s stock.

Metropolitan Bank Price Performance

NYSE MCB opened at $50.77 on Friday. Metropolitan Bank Holding Corp. has a 52 week low of $30.20 and a 52 week high of $57.69. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock has a market cap of $568.12 million, a price-to-earnings ratio of 8.35 and a beta of 1.13. The company has a 50-day moving average price of $49.48 and a two-hundred day moving average price of $43.14.

Metropolitan Bank (NYSE:MCB) last posted its earnings results on Thursday, July 18th. The company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.07). Metropolitan Bank had a return on equity of 10.47% and a net margin of 15.22%. The firm had revenue of $121.90 million during the quarter, compared to the consensus estimate of $68.02 million. During the same quarter last year, the company posted $1.37 EPS. Analysts forecast that Metropolitan Bank Holding Corp. will post 6.03 EPS for the current year.

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.