Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Connor Clark & Lunn Investment Management Ltd. lifted its position in Metropolitan Bank Holding Corp. (NYSE:MCB) by 68.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,819 shares of the company’s stock after buying an additional 5,624 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.12% of Metropolitan Bank worth $807,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MCB. USA Financial Formulas purchased a new stake in shares of Metropolitan Bank in the 4th quarter valued at $66,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Metropolitan Bank by 212.7% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company’s stock valued at $71,000 after buying an additional 921 shares during the period. R Squared Ltd purchased a new stake in shares of Metropolitan Bank in the 4th quarter valued at $91,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Metropolitan Bank in the 3rd quarter valued at $207,000. Finally, Centiva Capital LP purchased a new stake in Metropolitan Bank during the 3rd quarter worth about $248,000. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

Metropolitan Bank Trading Up 0.1 %

MCB opened at $55.18 on Friday. Metropolitan Bank Holding Corp. has a one year low of $32.46 and a one year high of $69.56. The company has a market cap of $619.38 million, a P/E ratio of 9.32 and a beta of 1.17. 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 business’s 50-day simple moving average is $59.99 and its 200-day simple moving average is $58.71.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings data on Thursday, January 23rd. The company reported $1.88 EPS for the quarter, beating 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%. As a group, equities research analysts expect that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Insider Activity

In related news, CEO Mark R. Defazio sold 15,088 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.78, for a total value of $826,520.64. Following the completion of the sale, the chief executive officer now directly owns 100,628 shares of the company’s stock, valued at $5,512,401.84. This represents a 13.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Lublin sold 5,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $54.60, for a total value of $273,000.00. Following the completion of the sale, the executive vice president now directly owns 49,988 shares of the company’s stock, valued at approximately $2,729,344.80. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,088 shares of company stock worth $1,161,791. 6.50% of the stock is currently owned by insiders.

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.