Vanguard Group Inc. Sells 11,336 Shares of Metropolitan Bank Holding Corp. $MCB

Vanguard Group Inc. reduced its holdings in Metropolitan Bank Holding Corp. (NYSE:MCBFree Report) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 608,750 shares of the company’s stock after selling 11,336 shares during the period. Vanguard Group Inc. owned approximately 5.91% of Metropolitan Bank worth $46,484,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Patriot Financial Partners GP II L.P. bought a new position in Metropolitan Bank in the 3rd quarter worth approximately $57,229,000. Dimensional Fund Advisors LP increased its position in Metropolitan Bank by 6.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 404,059 shares of the company’s stock worth $30,232,000 after buying an additional 24,115 shares during the period. American Century Companies Inc. increased its position in Metropolitan Bank by 8.9% in the 3rd quarter. American Century Companies Inc. now owns 324,991 shares of the company’s stock worth $24,316,000 after buying an additional 26,522 shares during the period. JPMorgan Chase & Co. increased its position in Metropolitan Bank by 53.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 178,363 shares of the company’s stock worth $13,345,000 after buying an additional 62,327 shares during the period. Finally, Ranger Investment Management L.P. increased its position in Metropolitan Bank by 0.6% in the 3rd quarter. Ranger Investment Management L.P. now owns 151,470 shares of the company’s stock worth $11,333,000 after buying an additional 965 shares during the period. 79.83% of the stock is owned by institutional investors.

Metropolitan Bank Stock Performance

MCB opened at $86.95 on Friday. The stock’s 50 day simple moving average is $85.27 and its 200-day simple moving average is $82.23. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 0.02. The stock has a market cap of $1.08 billion, a PE ratio of 10.71 and a beta of 1.02. Metropolitan Bank Holding Corp. has a 1 year low of $62.58 and a 1 year high of $97.84.

Metropolitan Bank (NYSE:MCBGet Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.19 by $0.73. The business had revenue of $88.49 million for the quarter, compared to analyst estimates of $87.33 million. Metropolitan Bank had a return on equity of 10.95% and a net margin of 15.89%.

Metropolitan Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Friday, May 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.00 annualized dividend and a yield of 1.2%. This is a positive change from Metropolitan Bank’s previous quarterly dividend of $0.20. Metropolitan Bank’s payout ratio is presently 12.32%.

Analyst Upgrades and Downgrades

Several research analysts have commented on MCB shares. Keefe, Bruyette & Woods lifted their price target on Metropolitan Bank from $105.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Weiss Ratings raised Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. UBS Group started coverage on Metropolitan Bank in a research report on Thursday, April 16th. They issued a “neutral” rating and a $97.00 price target on the stock. Wall Street Zen raised Metropolitan Bank from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Finally, Zacks Research upgraded Metropolitan Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $95.00.

Read Our Latest Report on MCB

Metropolitan Bank Company Profile

(Free Report)

Metropolitan Bank (NYSE:MCB), through its principal subsidiary Metropolitan Commercial Bank, operates as a New York–based regional financial institution providing a range of commercial and consumer banking services. The company offers deposit products including checking, savings and money market accounts, as well as business and personal certificates of deposit. On the lending side, Metropolitan Bank extends commercial real estate financing, equipment loans, working capital lines of credit and consumer installment loans tailored to the needs of small- and medium-sized enterprises and individual customers.

In addition to traditional deposit and lending services, Metropolitan Bank provides specialized treasury and cash-management solutions, foreign exchange services and letters of credit for both domestic businesses and multinational clients.

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Institutional Ownership by Quarter for Metropolitan Bank (NYSE:MCB)

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