Centiva Capital LP Invests $248,000 in Metropolitan Bank Holding Corp. (NYSE:MCB)

Centiva Capital LP purchased a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,717 shares of the company’s stock, valued at approximately $248,000.

Other large investors have also recently bought and sold shares of the company. Basswood Capital Management L.L.C. grew its position in shares of 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 valued at $31,958,000 after purchasing an additional 388,200 shares during the last quarter. American Century Companies Inc. boosted its stake in Metropolitan Bank by 21.1% in the 2nd quarter. American Century Companies Inc. now owns 186,440 shares of the company’s stock valued at $7,847,000 after purchasing an additional 32,491 shares during the period. AQR Capital Management LLC grew its holdings in Metropolitan Bank by 31.7% in the 2nd quarter. AQR Capital Management LLC now owns 130,340 shares of the company’s stock valued at $5,486,000 after buying an additional 31,397 shares in the last quarter. Millennium Management LLC bought a new position in Metropolitan Bank during the 2nd quarter worth $4,991,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Metropolitan Bank by 112.4% during the third 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. 79.83% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction on 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 owns 31,443 shares of the company’s stock, valued at $1,733,767.02. This trade represents a 3.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Norman Scott sold 1,473 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 11,732 shares of the company’s stock, valued at approximately $679,517.44. The trade was a 11.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,973 shares of company stock worth $291,024. Insiders own 6.50% of the company’s stock.

Metropolitan Bank Stock Up 1.4 %

MCB stock opened at $66.44 on Thursday. The company has a market cap of $744.00 million, a PE ratio of 12.49 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 52 week low of $32.46 and a 52 week high of $69.56. The business has a 50-day simple moving average of $60.37 and a 200 day simple moving average of $51.64.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings results on Thursday, October 17th. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.31. The company 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%. Sell-side analysts anticipate that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.