Empowered Funds LLC Has $2.01 Million Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Empowered Funds LLC boosted its position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,252 shares of the company’s stock after acquiring an additional 1,876 shares during the period. Empowered Funds LLC owned 0.34% of Metropolitan Bank worth $2,011,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Point72 DIFC Ltd bought a new position in shares of Metropolitan Bank during the 2nd quarter worth approximately $27,000. CWM LLC lifted its holdings in shares of Metropolitan Bank by 70.1% during the second quarter. CWM LLC now owns 784 shares of the company’s stock valued at $33,000 after acquiring an additional 323 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Metropolitan Bank in the 2nd quarter valued at $74,000. Point72 Asset Management L.P. grew its holdings in shares of Metropolitan Bank by 104.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,500 shares of the company’s stock worth $189,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Johnson Investment Counsel Inc. bought a new position in Metropolitan Bank during the 2nd quarter valued at about $202,000. 79.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Norman Scott sold 1,473 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $57.92, for a total value of $85,316.16. Following the completion of the sale, the senior vice president now directly owns 11,732 shares of the company’s stock, valued at $679,517.44. This trade represents a 11.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $55.14, for a total transaction of $68,925.00. Following the sale, the executive vice president now directly owns 31,443 shares of the company’s stock, valued at $1,733,767.02. The trade was a 3.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,973 shares of company stock valued at $291,024. Company insiders own 6.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group increased their target price on Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a report on Monday, October 21st.

Metropolitan Bank Stock Down 1.1 %

NYSE:MCB opened at $62.56 on Thursday. The stock’s fifty day simple moving average is $55.80 and its 200-day simple moving average is $49.18. The firm has a market capitalization of $700.67 million, a P/E ratio of 11.89 and a beta of 1.12. 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 $66.59.

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

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.