6,799 Shares in Metropolitan Bank Holding Corp. (NYSE:MCB) Acquired by XTX Topco Ltd

XTX Topco Ltd purchased a new stake in Metropolitan Bank Holding Corp. (NYSE:MCBFree Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,799 shares of the company’s stock, valued at approximately $357,000. XTX Topco Ltd owned about 0.06% of Metropolitan Bank as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Metropolitan Bank in the 3rd quarter valued at $431,000. SG Americas Securities LLC acquired a new position in Metropolitan Bank in the second quarter valued at $273,000. Bank of New York Mellon Corp grew 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 worth $3,513,000 after purchasing an additional 28,665 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Metropolitan Bank during the third quarter worth about $1,893,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Metropolitan Bank by 24.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,738 shares of the company’s stock valued at $368,000 after purchasing an additional 1,714 shares during the last quarter. 79.83% of the stock is currently owned by hedge funds and other institutional investors.

Metropolitan Bank Stock Up 1.4 %

Shares of NYSE:MCB opened at $65.91 on Tuesday. Metropolitan Bank Holding Corp. has a fifty-two week low of $32.46 and a fifty-two week high of $69.56. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $60.83 and its 200-day simple moving average is $52.02. The company has a market cap of $738.06 million, a price-to-earnings ratio of 12.39 and a beta of 1.16.

Metropolitan Bank (NYSE:MCBGet Free Report) last released 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. The company had revenue of $71.52 million for the quarter, compared to analysts’ expectations of $66.70 million. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%. As a group, equities research analysts predict that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock in a transaction 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 transaction, the executive vice president now directly owns 31,443 shares of the company’s stock, valued at approximately $1,733,767.02. The trade was a 3.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Norman Scott sold 1,473 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $57.92, for a total value of $85,316.16. Following the completion of the sale, the senior vice president now directly owns 11,732 shares in the company, valued at $679,517.44. This trade represents a 11.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders 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

Several analysts recently commented on the stock. Hovde Group increased their price target on shares of Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Piper Sandler boosted their price target on Metropolitan Bank from $67.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods increased their price objective on Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

Read Our Latest Research Report on MCB

Metropolitan Bank Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Metropolitan Bank (NYSE:MCB)

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