8,195 Shares in Metropolitan Bank Holding Corp. (NYSE:MCB) Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,195 shares of the company’s stock, valued at approximately $431,000.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Metropolitan Bank by 4.6% in the first quarter. Vanguard Group Inc. now owns 628,996 shares of the company’s stock valued at $24,216,000 after buying an additional 27,499 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Metropolitan Bank during the first quarter valued at $1,876,000. CWM LLC boosted its holdings in 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 purchasing an additional 323 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Metropolitan Bank during the 2nd quarter worth about $273,000. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Metropolitan Bank during the 2nd quarter valued at about $361,000. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Stock Performance

Shares of NYSE MCB opened at $65.47 on Friday. Metropolitan Bank Holding Corp. has a 1 year low of $32.46 and a 1 year high of $69.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. The company’s fifty day moving average price is $58.12 and its 200 day moving average price is $50.38. The company has a market capitalization of $733.26 million, a PE ratio of 12.31 and a beta of 1.12.

Metropolitan Bank (NYSE:MCB) last posted its earnings results on Thursday, October 17th. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.31. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. The business had revenue of $71.52 million for the quarter, compared to analyst estimates of $66.70 million. On average, research analysts predict that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $55.14, for a total value of $68,925.00. Following the sale, the executive vice president now owns 31,443 shares in the company, valued at $1,733,767.02. This trade represents a 3.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert C. Patent sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was 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 of the company’s stock, valued at approximately $4,377,637.56. This trade represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,973 shares of company stock worth $291,024. 6.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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