Algert Global LLC Purchases 22,077 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

Algert Global LLC lifted its position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 100.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,030 shares of the company’s stock after purchasing an additional 22,077 shares during the quarter. Algert Global LLC owned about 0.39% of Metropolitan Bank worth $2,315,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD bought a new stake in shares of Metropolitan Bank during the 1st quarter valued at $1,876,000. Jacobs Levy Equity Management Inc. boosted its stake in Metropolitan Bank by 21.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 82,931 shares of the company’s stock worth $3,193,000 after acquiring an additional 14,547 shares in the last quarter. Vanguard Group Inc. grew its holdings in Metropolitan Bank by 4.6% in the first quarter. Vanguard Group Inc. now owns 628,996 shares of the company’s stock worth $24,216,000 after purchasing an additional 27,499 shares during the period. SG Americas Securities LLC bought a new position in shares of Metropolitan Bank during the second quarter valued at approximately $273,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Metropolitan Bank by 52.3% during the second quarter. Bank of New York Mellon Corp now owns 83,472 shares of the company’s stock valued at $3,513,000 after purchasing an additional 28,665 shares during the last quarter. 79.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Hovde Group upped their price target on Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st.

Insider Buying and Selling at Metropolitan Bank

In related news, Director Robert C. Patent sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $55.32, for a total transaction of $55,320.00. Following the transaction, the director now owns 79,133 shares in the company, valued at $4,377,637.56. This represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $55.14, for a total transaction of $68,925.00. Following the completion of the sale, the executive vice president now directly owns 31,443 shares of the company’s stock, valued at approximately $1,733,767.02. This trade represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,973 shares of company stock worth $291,024. Insiders own 6.50% of the company’s stock.

Metropolitan Bank Stock Performance

Shares of MCB stock opened at $66.26 on Wednesday. The company has a market capitalization of $742.11 million, a price-to-earnings ratio of 12.45 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. Metropolitan Bank Holding Corp. has a one year low of $32.46 and a one year high of $69.56. The company’s 50-day moving average is $57.28 and its 200 day moving average is $49.98.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Thursday, October 17th. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.31. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. The firm had revenue of $71.52 million for the quarter, compared to analysts’ expectations of $66.70 million. Sell-side analysts expect that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current fiscal year.

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.