Emerald Mutual Fund Advisers Trust lessened its stake in Metropolitan Bank Holding Corp. (NYSE:MCB – Free Report) by 21.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 23,069 shares of the company’s stock after selling 6,301 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Metropolitan Bank were worth $1,921,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Royal Bank of Canada increased its stake in shares of Metropolitan Bank by 70.4% during the fourth quarter. Royal Bank of Canada now owns 346 shares of the company’s stock worth $27,000 after buying an additional 143 shares during the period. Bridgeway Capital Management LLC raised its holdings in Metropolitan Bank by 0.3% in the third quarter. Bridgeway Capital Management LLC now owns 69,851 shares of the company’s stock valued at $5,226,000 after acquiring an additional 182 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Metropolitan Bank by 3.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company’s stock worth $350,000 after acquiring an additional 237 shares during the last quarter. Emerald Advisers LLC purchased a new position in Metropolitan Bank in the first quarter worth approximately $25,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Metropolitan Bank by 9.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,502 shares of the company’s stock worth $344,000 after acquiring an additional 393 shares in the last quarter. 79.83% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have commented on MCB. UBS Group initiated coverage on shares of Metropolitan Bank in a research report on Thursday, April 16th. They issued a “neutral” rating and a $97.00 price objective on the stock. Weiss Ratings raised shares of Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods boosted their target price on shares of Metropolitan Bank from $105.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Finally, Wall Street Zen raised Metropolitan Bank from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $103.00.
Insider Activity
In related news, Director Robert C. Patent sold 10,000 shares of Metropolitan Bank stock in a transaction on Friday, June 12th. The shares were sold at an average price of $96.41, for a total transaction of $964,100.00. Following the sale, the director directly owned 86,185 shares in the company, valued at $8,309,095.85. This trade represents a 10.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nick Rosenberg sold 1,807 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $100.42, for a total transaction of $181,458.94. Following the completion of the sale, the executive vice president directly owned 22,202 shares of the company’s stock, valued at approximately $2,229,524.84. This trade represents a 7.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 19,897 shares of company stock worth $1,874,352. Corporate insiders own 5.50% of the company’s stock.
Metropolitan Bank Price Performance
Shares of NYSE MCB opened at $97.17 on Tuesday. The stock’s 50-day simple moving average is $93.18 and its 200-day simple moving average is $88.33. The firm has a market capitalization of $1.20 billion, a PE ratio of 11.97 and a beta of 1.00. Metropolitan Bank Holding Corp. has a fifty-two week low of $64.66 and a fifty-two week high of $102.04. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.99 and a current ratio of 0.99.
Metropolitan Bank (NYSE:MCB – Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.73. The firm had revenue of $88.49 million during the quarter, compared to the consensus estimate 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 disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Friday, May 1st were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. This is a boost from Metropolitan Bank’s previous quarterly dividend of $0.20. Metropolitan Bank’s payout ratio is presently 12.32%.
About Metropolitan Bank
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.
Featured Stories
- Five stocks we like better than Metropolitan Bank
- The SK Hynix IPO and 2027’s AI Memory Squeeze
- Meta Platforms Stock Rises as Muse Spark 1.1 AI Model Debuts
- Why Welltower’s Growth Story Might Outrun Its Rich Valuation
- One Short- and One Long-Term ETF for Quantum Computing Bulls
Want to see what other hedge funds are holding MCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Metropolitan Bank Holding Corp. (NYSE:MCB – Free Report).
Receive News & Ratings for Metropolitan Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Metropolitan Bank and related companies with MarketBeat.com's FREE daily email newsletter.
