PFG Investments LLC Acquires New Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

PFG Investments LLC acquired a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB) during the fourth quarter, HoldingsChannel reports. The fund acquired 5,168 shares of the company’s stock, valued at approximately $302,000.

A number of other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC boosted its position in shares of Metropolitan Bank by 9.1% in the 4th quarter. SG Americas Securities LLC now owns 9,342 shares of the company’s stock worth $546,000 after purchasing an additional 781 shares during the last quarter. USA Financial Formulas bought a new position in Metropolitan Bank during the fourth quarter worth about $66,000. Kings Path Partners LLC grew its position in shares of Metropolitan Bank by 11.2% during the 4th quarter. Kings Path Partners LLC now owns 14,110 shares of the company’s stock worth $824,000 after buying an additional 1,420 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Metropolitan Bank by 74.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,173 shares of the company’s stock valued at $430,000 after acquiring an additional 3,497 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Metropolitan Bank by 44.8% in the 3rd quarter. Franklin Resources Inc. now owns 82,922 shares of the company’s stock valued at $4,751,000 after acquiring an additional 25,654 shares during the period. Institutional investors and hedge funds own 79.83% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Scott Lublin sold 3,000 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $58.77, for a total value of $176,310.00. Following the sale, the executive vice president now owns 52,253 shares of the company’s stock, valued at $3,070,908.81. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $65.17, for a total transaction of $81,462.50. Following the completion of the transaction, the executive vice president now directly owns 30,193 shares of the company’s stock, valued at approximately $1,967,677.81. This trade represents a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.50% of the company’s stock.

Metropolitan Bank Stock Performance

Shares of MCB opened at $63.70 on Friday. The firm’s 50 day moving average price is $62.02 and its two-hundred day moving average price is $56.49. 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 twelve month low of $32.46 and a twelve month high of $69.56. The firm has a market cap of $713.46 million, a P/E ratio of 10.76 and a beta of 1.17.

Metropolitan Bank (NYSE:MCB) last released its earnings results on Thursday, January 23rd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.39. Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. On average, analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on MCB. Piper Sandler upped their target price on shares of Metropolitan Bank from $67.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Hovde Group upped their price objective on shares of Metropolitan Bank from $75.00 to $83.50 and gave the company an “outperform” rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods lifted their target price on Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

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.