Johnson Investment Counsel Inc. Makes New $202,000 Investment in Metropolitan Bank Holding Corp. (NYSE:MCB)

Johnson Investment Counsel Inc. acquired a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB) during the second quarter, according to its most recent filing with the SEC. The firm acquired 4,800 shares of the company’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC increased its position in Metropolitan Bank by 70.1% in the second quarter. CWM LLC now owns 784 shares of the company’s stock worth $33,000 after purchasing an additional 323 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Metropolitan Bank during the first quarter worth approximately $103,000. SG Americas Securities LLC acquired a new position in Metropolitan Bank in the second quarter valued at approximately $273,000. Sequoia Financial Advisors LLC bought a new position in Metropolitan Bank in the second quarter valued at approximately $361,000. Finally, Cox Capital Mgt LLC grew its holdings in Metropolitan Bank by 11.9% during the 1st quarter. Cox Capital Mgt LLC now owns 11,395 shares of the company’s stock worth $439,000 after acquiring an additional 1,214 shares during the period. 79.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Metropolitan Bank

In other news, EVP Scott Lublin sold 1,005 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $55.11, for a total transaction of $55,385.55. Following the sale, the executive vice president now owns 57,077 shares of the company’s stock, valued at $3,145,513.47. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Mark R. Defazio sold 34,986 shares of the firm’s 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 sale, the chief executive officer now owns 181,208 shares of the company’s stock, valued at $10,028,050.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Scott Lublin sold 1,005 shares of Metropolitan Bank 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 directly owns 57,077 shares in the company, valued at approximately $3,145,513.47. The disclosure for this sale can be found here. 6.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on MCB. JPMorgan Chase & Co. increased their price target on Metropolitan Bank from $55.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $67.50 target price (up previously from $55.00) on shares of Metropolitan Bank in a research note on Tuesday, July 23rd.

Metropolitan Bank Trading Up 2.7 %

Shares of NYSE MCB opened at $50.74 on Monday. Metropolitan Bank Holding Corp. has a twelve month low of $30.20 and a twelve month high of $57.69. The stock has a market cap of $567.78 million, a price-to-earnings ratio of 8.35 and a beta of 1.13. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The company’s fifty day moving average is $49.48 and its 200-day moving average is $43.17.

Metropolitan Bank (NYSE:MCB) last posted 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). Metropolitan Bank had a return on equity of 10.47% and a net margin of 15.22%. The business had revenue of $121.90 million for the quarter, compared to the consensus estimate of $68.02 million. During the same quarter in the prior year, the firm posted $1.37 earnings per share. Equities research analysts predict that Metropolitan Bank Holding Corp. will post 6.03 EPS for the current year.

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.