American Century Companies Inc. Purchases 32,491 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

American Century Companies Inc. raised its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 21.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 186,440 shares of the company’s stock after purchasing an additional 32,491 shares during the period. American Century Companies Inc. owned 1.67% of Metropolitan Bank worth $7,847,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CWM LLC increased its holdings in shares of 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 acquiring an additional 323 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Metropolitan Bank during the first quarter worth about $103,000. SG Americas Securities LLC purchased a new position in Metropolitan Bank during the 2nd quarter worth approximately $273,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Metropolitan Bank in the 2nd quarter valued at $361,000. Finally, Cox Capital Mgt LLC raised its holdings in shares of Metropolitan Bank by 11.9% during the first quarter. Cox Capital Mgt LLC now owns 11,395 shares of the company’s stock worth $439,000 after purchasing an additional 1,214 shares during the last quarter. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Stock Performance

Shares of MCB stock opened at $52.68 on Tuesday. The company has a market capitalization of $589.59 million, a P/E ratio of 8.66 and a beta of 1.13. Metropolitan Bank Holding Corp. has a 12-month low of $30.20 and a 12-month high of $57.69. The business’s 50 day moving average is $50.27 and its two-hundred day moving average is $43.72. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37.

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 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 quarter last year, the business earned $1.37 EPS. Analysts expect that Metropolitan Bank Holding Corp. will post 6.03 EPS for the current fiscal year.

Insider Buying and Selling at Metropolitan Bank

In other news, EVP Scott Lublin sold 1,005 shares of Metropolitan Bank stock in a transaction that occurred 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 of the company’s stock, valued at $3,145,513.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Mark R. Defazio sold 34,986 shares of Metropolitan Bank stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 181,208 shares in the company, valued at $10,028,050.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Scott Lublin sold 1,005 shares of the company’s stock in a transaction 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 owns 57,077 shares of the company’s stock, valued at $3,145,513.47. 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 weighed in on MCB. JPMorgan Chase & Co. lifted their price objective 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 price target (up from $55.00) on shares of Metropolitan Bank in a report on Tuesday, July 23rd. Finally, Hovde Group initiated coverage on shares of Metropolitan Bank in a report on Thursday, September 19th. They set an “outperform” rating and a $65.50 target price for the company.

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.