Numerai GP LLC Invests $540,000 in Metropolitan Bank Holding Corp. (NYSE:MCB)

Numerai GP LLC bought a new position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,240 shares of the company’s stock, valued at approximately $540,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management increased its position in shares of Metropolitan Bank by 46.9% during the fourth quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock worth $30,000 after purchasing an additional 161 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Metropolitan Bank during the fourth quarter worth about $66,000. R Squared Ltd purchased a new position in shares of Metropolitan Bank during the fourth quarter worth about $91,000. KLP Kapitalforvaltning AS purchased a new position in shares of Metropolitan Bank during the fourth quarter worth about $128,000. Finally, Virtu Financial LLC purchased a new position in shares of Metropolitan Bank during the fourth quarter worth about $221,000. Institutional investors and hedge funds own 79.83% of the company’s stock.

Insider Buying and Selling at Metropolitan Bank

In other Metropolitan Bank news, EVP Scott Lublin sold 5,000 shares of Metropolitan Bank stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.60, for a total value of $273,000.00. Following the sale, the executive vice president now owns 49,988 shares of the company’s stock, valued at approximately $2,729,344.80. The trade was a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Norman Scott sold 3,293 shares of Metropolitan Bank stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $60.57, for a total value of $199,457.01. Following the completion of the sale, the senior vice president now directly owns 12,546 shares in the company, valued at $759,911.22. This represents a 20.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,657 shares of company stock valued at $1,700,473. 6.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Hovde Group raised their price target on Metropolitan Bank from $75.00 to $83.50 and gave the stock an “outperform” rating in a report on Monday, January 27th.

Metropolitan Bank Stock Performance

NYSE MCB opened at $66.47 on Thursday. 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 $37.10 and a 52-week high of $69.56. The business’s 50-day moving average price is $56.58 and its 200 day moving average price is $59.79. The firm has a market cap of $708.57 million, a P/E ratio of 11.23 and a beta of 1.11.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings results on Monday, April 21st. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.16). Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. The company had revenue of $70.59 million for the quarter, compared to analysts’ expectations of $67.62 million. During the same period in the prior year, the business earned $1.46 EPS. On average, equities research analysts expect that Metropolitan Bank Holding Corp. will post 7.31 earnings per share 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.