Cubist Systematic Strategies LLC Has $368,000 Stake in Metropolitan Bank Holding Corp. (NYSE:MCB)

Cubist Systematic Strategies LLC raised its stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 24.4% in the 2nd quarter, Holdings Channel reports. The firm owned 8,738 shares of the company’s stock after purchasing an additional 1,714 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Metropolitan Bank were worth $368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 DIFC Ltd bought a new stake in Metropolitan Bank in the second quarter worth approximately $27,000. CWM LLC grew its stake in shares of Metropolitan Bank by 70.1% in the 2nd quarter. CWM LLC now owns 784 shares of the company’s stock valued at $33,000 after buying an additional 323 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in Metropolitan Bank in the 2nd quarter valued at about $74,000. Allspring Global Investments Holdings LLC acquired a new position in Metropolitan Bank during the 1st quarter worth approximately $103,000. Finally, Point72 Asset Management L.P. boosted its holdings in Metropolitan Bank by 104.5% in the second quarter. Point72 Asset Management L.P. now owns 4,500 shares of the company’s stock worth $189,000 after acquiring an additional 2,300 shares in the last quarter. 79.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Metropolitan Bank news, EVP Scott Lublin sold 1,005 shares of the firm’s stock in a transaction on 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 directly owns 57,077 shares of the company’s stock, valued at $3,145,513.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Scott Lublin sold 1,005 shares of Metropolitan Bank stock in a transaction dated 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 transaction, the executive vice president now owns 57,077 shares in the company, valued at $3,145,513.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nick Rosenberg sold 1,250 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $55.14, for a total value of $68,925.00. Following the sale, the executive vice president now directly owns 31,443 shares in the company, valued at $1,733,767.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,241 shares of company stock valued at $2,060,436. 6.50% of the stock is owned by company insiders.

Metropolitan Bank Price Performance

MCB opened at $56.03 on Monday. Metropolitan Bank Holding Corp. has a 1 year low of $30.20 and a 1 year high of $57.69. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $627.14 million, a price-to-earnings ratio of 9.22 and a beta of 1.13. The firm’s fifty day moving average price is $50.13 and its two-hundred day moving average price is $45.14.

Metropolitan Bank (NYSE:MCB) last posted its earnings results on Thursday, July 18th. The company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.07). The firm had revenue of $121.90 million for the quarter, compared to the consensus estimate of $68.02 million. Metropolitan Bank had a return on equity of 10.47% and a net margin of 15.22%. During the same period in the prior year, the business earned $1.37 EPS. As a group, analysts anticipate that Metropolitan Bank Holding Corp. will post 6.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.