Barclays PLC Acquires 8,233 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

Barclays PLC raised its stake in Metropolitan Bank Holding Corp. (NYSE:MCB) by 54.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,461 shares of the company’s stock after buying an additional 8,233 shares during the quarter. Barclays PLC’s holdings in Metropolitan Bank were worth $1,233,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. XTX Topco Ltd acquired a new stake in shares of Metropolitan Bank in the 3rd quarter valued at about $357,000. Point72 Asset Management L.P. lifted its stake in Metropolitan Bank by 62.2% in the third quarter. Point72 Asset Management L.P. now owns 7,300 shares of the company’s stock valued at $384,000 after acquiring an additional 2,800 shares during the last quarter. Harbor Advisors LLC boosted its stake in shares of Metropolitan Bank by 30.7% during the 3rd quarter. Harbor Advisors LLC now owns 36,311 shares of the company’s stock worth $1,909,000 after acquiring an additional 8,528 shares during the period. Centiva Capital LP acquired a new position in shares of Metropolitan Bank in the third quarter valued at $248,000. Finally, Basswood Capital Management L.L.C. grew its stake in Metropolitan Bank by 176.8% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 607,805 shares of the company’s stock valued at $31,958,000 after buying an additional 388,200 shares during the last quarter. Institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Stock Up 2.1 %

Shares of NYSE:MCB opened at $57.53 on Tuesday. The firm has a market capitalization of $644.22 million, a PE ratio of 10.81 and a beta of 1.17. The firm has a fifty day moving average of $62.24 and a 200 day moving average of $54.85. 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 52-week low of $32.46 and a 52-week high of $69.56.

Metropolitan Bank (NYSE:MCB) last released its earnings results on Thursday, October 17th. The company reported $1.86 earnings per share for the quarter, topping 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 the consensus estimate of $66.70 million. As a group, research analysts anticipate that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $65.17, for a total transaction of $81,462.50. Following the completion of the sale, the executive vice president now owns 30,193 shares of the company’s stock, valued at $1,967,677.81. The trade was a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott Lublin sold 3,000 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $58.77, for a total transaction of $176,310.00. Following the sale, the executive vice president now directly owns 52,253 shares in the company, valued at approximately $3,070,908.81. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,723 shares of company stock worth $398,409. 6.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Piper Sandler upped their target price on Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Keefe, Bruyette & Woods raised their price target on shares of Metropolitan Bank from $73.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Hovde Group upped their price objective on shares of Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st.

Metropolitan Bank 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.