Point72 DIFC Ltd purchased a new position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 638 shares of the company’s stock, valued at approximately $27,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC increased its stake in shares of Metropolitan Bank by 70.1% in the second quarter. CWM LLC now owns 784 shares of the company’s stock valued at $33,000 after buying an additional 323 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Metropolitan Bank in the second quarter worth about $74,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Metropolitan Bank during the first quarter worth approximately $103,000. Johnson Investment Counsel Inc. acquired a new stake in shares of Metropolitan Bank in the second quarter valued at approximately $202,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Metropolitan Bank in the second quarter valued at approximately $273,000. 79.83% of the stock is owned by institutional investors and hedge funds.
Metropolitan Bank Stock Performance
Shares of Metropolitan Bank stock opened at $51.10 on Monday. Metropolitan Bank Holding Corp. has a 52 week low of $30.20 and a 52 week high of $57.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $571.96 million, a price-to-earnings ratio of 8.40 and a beta of 1.13. The firm has a fifty day moving average of $49.92 and a two-hundred day moving average of $44.02.
Insider Buying and Selling
In other Metropolitan Bank news, EVP Scott Lublin sold 1,005 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $55.11, for a total value of $55,385.55. Following the completion of the sale, the executive vice president now owns 57,077 shares of the company’s stock, valued at $3,145,513.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Metropolitan Bank news, CEO Mark R. Defazio sold 34,986 shares of Metropolitan Bank stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $55.34, for a total transaction of $1,936,125.24. Following the transaction, the chief executive officer now directly owns 181,208 shares in the company, valued at $10,028,050.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott Lublin sold 1,005 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $55.11, for a total value of $55,385.55. Following the completion of the sale, the executive vice president now owns 57,077 shares of the company’s stock, valued at $3,145,513.47. The disclosure for this sale can be found here. 6.50% of the stock is owned by insiders.
Analysts Set New Price Targets
MCB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $67.50 price objective (up from $55.00) on shares of Metropolitan Bank in a research report on Tuesday, July 23rd. Hovde Group initiated coverage on Metropolitan Bank in a research report on Thursday, September 19th. They issued an “outperform” rating and a $65.50 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd.
Metropolitan Bank Company 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.
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