SG Americas Securities LLC Acquires 2,080 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

SG Americas Securities LLC lifted its position in Metropolitan Bank Holding Corp. (NYSE:MCB) by 32.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,561 shares of the company’s stock after purchasing an additional 2,080 shares during the period. SG Americas Securities LLC owned 0.08% of Metropolitan Bank worth $450,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MCB. Point72 DIFC Ltd purchased a new stake in shares of Metropolitan Bank in the second quarter valued at approximately $27,000. CWM LLC boosted its holdings 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 purchasing an additional 323 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Metropolitan Bank in the second quarter valued at approximately $74,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Metropolitan Bank in the first quarter valued at approximately $103,000. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Metropolitan Bank by 104.5% in the second quarter. Point72 Asset Management L.P. now owns 4,500 shares of the company’s stock valued at $189,000 after purchasing an additional 2,300 shares during the period. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MCB shares. JPMorgan Chase & Co. boosted their price target on Metropolitan Bank from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $67.50 target price (up previously from $55.00) on shares of Metropolitan Bank in a report on Tuesday, July 23rd. Finally, Hovde Group initiated 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.

Metropolitan Bank Stock Up 2.4 %

Shares of NYSE MCB opened at $60.42 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $676.28 million, a PE ratio of 9.94 and a beta of 1.13. The stock’s fifty day simple moving average is $51.00 and its two-hundred day simple moving average is $45.57. Metropolitan Bank Holding Corp. has a 12-month low of $30.72 and a 12-month high of $61.00.

Metropolitan Bank (NYSE:MCB) last announced its earnings results on Thursday, July 18th. The company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.07). The company had revenue of $121.90 million for the quarter, compared to the consensus estimate 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 last year, the business posted $1.37 EPS. As a group, analysts expect that Metropolitan Bank Holding Corp. will post 6.1 EPS for the current fiscal year.

Insider Transactions at Metropolitan Bank

In other news, CEO Mark R. Defazio sold 34,986 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $55.34, for a total value of $1,936,125.24. Following the completion of the sale, the chief executive officer now owns 181,208 shares of the company’s stock, valued at $10,028,050.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Mark R. Defazio sold 34,986 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $55.34, for a total value of $1,936,125.24. Following the completion of the sale, the chief executive officer now owns 181,208 shares of the company’s stock, valued at $10,028,050.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $55.14, for a total value of $68,925.00. Following the completion of the sale, the executive vice president now directly owns 31,443 shares of the company’s stock, valued at $1,733,767.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,241 shares of company stock valued at $2,060,436 in the last quarter. 6.50% of the stock is currently owned by corporate insiders.

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.