Point72 DIFC Ltd Invests $27,000 in Metropolitan Bank Holding Corp. (NYSE:MCB)

Point72 DIFC Ltd purchased a new position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 638 shares of the company’s stock, valued at approximately $27,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC increased its stake in shares of 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 buying an additional 323 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Metropolitan Bank in the second quarter worth about $74,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Metropolitan Bank during the first quarter worth approximately $103,000. Johnson Investment Counsel Inc. acquired a new stake in shares of Metropolitan Bank in the second quarter valued at approximately $202,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Metropolitan Bank in the second quarter valued at approximately $273,000. 79.83% of the stock is owned by institutional investors and hedge funds.

Metropolitan Bank Stock Performance

Shares of Metropolitan Bank stock opened at $51.10 on Monday. Metropolitan Bank Holding Corp. has a 52 week low of $30.20 and a 52 week high of $57.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $571.96 million, a price-to-earnings ratio of 8.40 and a beta of 1.13. The firm has a fifty day moving average of $49.92 and a two-hundred day moving average of $44.02.

Metropolitan Bank (NYSE:MCB) last released its earnings results on Thursday, July 18th. The company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.07). The company had revenue of $121.90 million during the quarter, compared to analyst estimates of $68.02 million. Metropolitan Bank had a net margin of 15.22% and a return on equity of 10.47%. During the same period in the previous year, the company posted $1.37 EPS. As a group, equities research analysts predict that Metropolitan Bank Holding Corp. will post 6.03 EPS for the current year.

Insider Buying and Selling

In other Metropolitan Bank news, EVP Scott Lublin sold 1,005 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $55.11, for a total value of $55,385.55. Following the completion of the sale, the executive vice president now owns 57,077 shares of the company’s stock, valued at $3,145,513.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Metropolitan Bank news, CEO Mark R. Defazio sold 34,986 shares of Metropolitan Bank stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $55.34, for a total transaction of $1,936,125.24. Following the transaction, the chief executive officer now directly owns 181,208 shares in the company, valued at $10,028,050.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott Lublin sold 1,005 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $55.11, for a total value of $55,385.55. Following the completion of the sale, the executive vice president now owns 57,077 shares of the company’s stock, valued at $3,145,513.47. The disclosure for this sale can be found here. 6.50% of the stock is owned by insiders.

Analysts Set New Price Targets

MCB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $67.50 price objective (up from $55.00) on shares of Metropolitan Bank in a research report on Tuesday, July 23rd. Hovde Group initiated coverage on Metropolitan Bank in a research report on Thursday, September 19th. They issued an “outperform” rating and a $65.50 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd.

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.