PFG Investments LLC Buys New Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

PFG Investments LLC purchased a new position in Metropolitan Bank Holding Corp. (NYSE:MCB) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 5,168 shares of the company’s stock, valued at approximately $302,000.

Other large investors also recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in Metropolitan Bank during the second quarter worth $918,000. Thrivent Financial for Lutherans grew its position in Metropolitan Bank by 143.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 20,094 shares of the company’s stock worth $846,000 after purchasing an additional 11,841 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Metropolitan Bank by 193.1% during the 2nd quarter. Marshall Wace LLP now owns 50,350 shares of the company’s stock worth $2,119,000 after purchasing an additional 33,171 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Metropolitan Bank by 24.4% during the second quarter. Cubist Systematic Strategies LLC now owns 8,738 shares of the company’s stock valued at $368,000 after buying an additional 1,714 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Metropolitan Bank by 31.7% in the second 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 during the period. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on MCB. Keefe, Bruyette & Woods upped their price target on Metropolitan Bank from $73.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Hovde Group raised their target price on Metropolitan Bank from $75.00 to $83.50 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, Piper Sandler boosted their price target on shares of Metropolitan Bank from $67.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, December 13th.

Insiders Place Their Bets

In other Metropolitan Bank news, EVP Scott Lublin sold 3,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $58.77, for a total transaction of $176,310.00. Following the sale, the executive vice president now owns 52,253 shares of the company’s stock, valued at $3,070,908.81. This represents a 5.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nick Rosenberg sold 1,250 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $65.17, for a total transaction of $81,462.50. Following the completion of the transaction, the executive vice president now directly owns 30,193 shares of the company’s stock, valued at approximately $1,967,677.81. This represents a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.50% of the company’s stock.

Metropolitan Bank Trading Down 0.7 %

Shares of MCB opened at $63.70 on Friday. The stock has a 50 day simple moving average of $62.02 and a 200-day simple moving average of $56.49. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The stock has a market cap of $713.46 million, a PE ratio of 10.76 and a beta of 1.17. Metropolitan Bank Holding Corp. has a 1 year low of $32.46 and a 1 year high of $69.56.

Metropolitan Bank (NYSE:MCB) last issued its earnings results on Thursday, January 23rd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.49 by $0.39. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. On average, sell-side analysts predict that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal 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.