Martingale Asset Management L P Has $1.16 Million Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Martingale Asset Management L P lifted its position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 9.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,137 shares of the company’s stock after buying an additional 1,886 shares during the quarter. Martingale Asset Management L P owned about 0.20% of Metropolitan Bank worth $1,164,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. CWM LLC increased its position in shares of Metropolitan Bank by 70.1% during the second quarter. CWM LLC now owns 784 shares of the company’s stock worth $33,000 after buying an additional 323 shares during the period. SummerHaven Investment Management LLC increased its position in shares of Metropolitan Bank by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 18,270 shares of the company’s stock worth $769,000 after buying an additional 367 shares during the period. Point72 DIFC Ltd bought a new position in Metropolitan Bank during the second quarter worth $27,000. Salzhauer Michael boosted its stake in Metropolitan Bank by 2.3% during the second quarter. Salzhauer Michael now owns 38,100 shares of the company’s stock worth $1,604,000 after acquiring an additional 842 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Metropolitan Bank by 12.0% during the second quarter. Principal Financial Group Inc. now owns 13,591 shares of the company’s stock worth $572,000 after acquiring an additional 1,456 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Metropolitan Bank Stock Down 3.5 %

Shares of NYSE MCB opened at $64.94 on Monday. Metropolitan Bank Holding Corp. has a 12-month low of $32.46 and a 12-month high of $69.56. The firm has a market cap of $727.33 million, a PE ratio of 12.21 and a beta of 1.12. The company’s fifty day simple moving average is $58.12 and its 200 day simple moving average is $50.48. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.36.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings data on Thursday, October 17th. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.31. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. The firm had revenue of $71.52 million for the quarter, compared to analyst estimates of $66.70 million. As a group, sell-side analysts forecast that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Metropolitan Bank

In related news, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $55.14, for a total transaction of $68,925.00. Following the transaction, the executive vice president now directly owns 31,443 shares of the company’s stock, valued at $1,733,767.02. This trade represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Norman Scott sold 1,473 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.92, for a total transaction of $85,316.16. Following the transaction, the senior vice president now directly owns 11,732 shares in the company, valued at $679,517.44. The trade was a 11.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,973 shares of company stock valued at $291,024. Corporate insiders own 6.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group increased their target price 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.

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.