8,544 Shares in Metropolitan Bank Holding Corp. (NYSE:MCB) Purchased by Newport Trust Company LLC

Newport Trust Company LLC acquired a new stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,544 shares of the company’s stock, valued at approximately $360,000. Newport Trust Company LLC owned approximately 0.08% of Metropolitan Bank at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCB. CWM LLC raised its position in Metropolitan Bank by 70.1% during the second 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 acquired a new stake in shares of Metropolitan Bank during the second quarter worth approximately $74,000. Allspring Global Investments Holdings LLC purchased a new position in Metropolitan Bank during the first quarter valued at approximately $103,000. Johnson Investment Counsel Inc. purchased a new stake in Metropolitan Bank in the 2nd quarter worth approximately $202,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Metropolitan Bank during the 2nd quarter valued at $273,000. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Metropolitan Bank

In other Metropolitan Bank news, EVP Scott Lublin sold 1,005 shares of Metropolitan Bank stock in a transaction on Tuesday, July 23rd. The shares were 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 in the company, valued at $3,145,513.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Metropolitan Bank news, EVP Scott Lublin sold 1,005 shares of the company’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 sale, the executive vice president now directly owns 57,077 shares in the company, valued at $3,145,513.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark R. Defazio sold 34,986 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $55.34, for a total transaction of $1,936,125.24. Following the completion of the sale, the chief executive officer now owns 181,208 shares in the company, valued at approximately $10,028,050.72. The disclosure for this sale can be found here. Insiders own 6.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MCB. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $67.50 price target (up from $55.00) on shares of Metropolitan Bank in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. upped their target price on Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Finally, Hovde Group began coverage on Metropolitan Bank in a research note on Thursday. They issued an “outperform” rating and a $65.50 price target for the company.

Metropolitan Bank Stock Up 5.6 %

Shares of Metropolitan Bank stock opened at $54.38 on Friday. Metropolitan Bank Holding Corp. has a 12-month low of $30.20 and a 12-month high of $57.69. The stock has a market capitalization of $608.68 million, a P/E ratio of 8.94 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 stock has a 50 day moving average price of $50.12 and a two-hundred day moving average price of $43.47.

Metropolitan Bank (NYSE:MCB) last issued its quarterly 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 business had revenue of $121.90 million during the quarter, compared to analyst estimates 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 in the prior year, the business posted $1.37 earnings per share. Equities analysts expect that Metropolitan Bank Holding Corp. will post 6.03 earnings per share for the current year.

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.