Metropolitan Bank Holding Corp. (NYSE:MCB) Director Acquires $24,430.50 in Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) Director Chaya Pamula bought 450 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average price of $54.29 per share, for a total transaction of $24,430.50. Following the completion of the acquisition, the director now owns 6,513 shares in the company, valued at approximately $353,590.77. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Metropolitan Bank Price Performance

Shares of MCB opened at $52.78 on Friday. The firm has a market cap of $590.61 million, a price-to-earnings ratio of 9.92 and a beta of 1.13. The stock has a 50 day moving average of $52.64 and a 200-day moving average of $46.57. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. Metropolitan Bank Holding Corp. has a 52 week low of $31.35 and a 52 week high of $64.10.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. CWM LLC grew its position in shares of Metropolitan Bank by 70.1% in the 2nd quarter. CWM LLC now owns 784 shares of the company’s stock worth $33,000 after acquiring an additional 323 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of Metropolitan Bank by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 18,270 shares of the company’s stock worth $769,000 after acquiring an additional 367 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Metropolitan Bank during the 2nd quarter valued at approximately $27,000. Salzhauer Michael boosted its position in Metropolitan Bank by 2.3% during the 2nd quarter. Salzhauer Michael now owns 38,100 shares of the company’s stock valued at $1,604,000 after purchasing an additional 842 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Metropolitan Bank by 12.0% during the 2nd quarter. Principal Financial Group Inc. now owns 13,591 shares of the company’s stock valued at $572,000 after purchasing an additional 1,456 shares during the period. Institutional investors and hedge funds own 79.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on MCB. Keefe, Bruyette & Woods restated an “outperform” rating and set a $67.50 price objective (up from $55.00) on shares of Metropolitan Bank in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted 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. Finally, Hovde Group lifted their price objective on Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a report on Monday, October 21st.

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.