Point72 Asset Management L.P. Grows Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Point72 Asset Management L.P. increased its holdings in Metropolitan Bank Holding Corp. (NYSE:MCB) by 62.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,300 shares of the company’s stock after purchasing an additional 2,800 shares during the quarter. Point72 Asset Management L.P. owned 0.07% of Metropolitan Bank worth $384,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MCB. CWM LLC lifted its stake in Metropolitan Bank by 70.1% in the 2nd quarter. CWM LLC now owns 784 shares of the company’s stock worth $33,000 after purchasing an additional 323 shares in the last quarter. SummerHaven Investment Management LLC grew its position in Metropolitan Bank by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 18,270 shares of the company’s stock valued at $769,000 after acquiring an additional 367 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Metropolitan Bank during the second quarter worth about $27,000. Verition Fund Management LLC boosted its stake in shares of Metropolitan Bank by 12.0% in the third quarter. Verition Fund Management LLC now owns 6,553 shares of the company’s stock valued at $345,000 after purchasing an additional 700 shares during the period. Finally, Salzhauer Michael grew its holdings in shares of Metropolitan Bank by 2.3% in the second quarter. Salzhauer Michael now owns 38,100 shares of the company’s stock valued at $1,604,000 after purchasing an additional 842 shares in the last quarter. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Stock Down 1.1 %

MCB stock opened at $65.70 on Friday. 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 one year low of $32.46 and a one year high of $69.56. The stock has a market capitalization of $735.71 million, a PE ratio of 12.35 and a beta of 1.16. The company has a fifty day moving average of $60.60 and a 200-day moving average of $51.73.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings data on Thursday, October 17th. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.55 by $0.31. The firm had revenue of $71.52 million during the quarter, compared to analysts’ expectations of $66.70 million. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. As a group, analysts expect that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current year.

Insider Buying and Selling at Metropolitan Bank

In other news, SVP Norman Scott sold 1,473 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.92, for a total transaction of $85,316.16. Following the completion of the sale, the senior vice president now directly owns 11,732 shares in the company, valued at $679,517.44. This represents a 11.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Nick Rosenberg sold 1,250 shares of the stock in a transaction dated Friday, October 4th. The shares were 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 owns 31,443 shares of the company’s stock, valued at approximately $1,733,767.02. This trade represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,973 shares of company stock worth $291,024. 6.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on MCB. Hovde Group lifted their price target on shares of Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods raised their target price on Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

About Metropolitan Bank

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.