Victory Capital Management Inc. Buys Shares of 6,614 Metropolitan Bank Holding Corp. (NYSE:MCB)

Victory Capital Management Inc. bought a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,614 shares of the company’s stock, valued at approximately $348,000. Victory Capital Management Inc. owned about 0.06% of Metropolitan Bank at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD acquired a new position in Metropolitan Bank in the 1st quarter valued at about $1,876,000. Vanguard Group Inc. boosted its holdings in Metropolitan Bank by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 628,996 shares of the company’s stock valued at $24,216,000 after purchasing an additional 27,499 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Metropolitan Bank in the 2nd quarter worth approximately $273,000. Bank of New York Mellon Corp lifted its holdings in shares of Metropolitan Bank by 52.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 83,472 shares of the company’s stock worth $3,513,000 after acquiring an additional 28,665 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Metropolitan Bank by 24.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,738 shares of the company’s stock worth $368,000 after acquiring an additional 1,714 shares during the last quarter. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Nick Rosenberg sold 1,250 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $55.14, for a total transaction of $68,925.00. Following the sale, the executive vice president now directly owns 31,443 shares of the company’s stock, valued at $1,733,767.02. This represents a 3.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert C. Patent sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $55.32, for a total transaction of $55,320.00. Following the sale, the director now directly owns 79,133 shares in the company, valued at approximately $4,377,637.56. The trade was a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,973 shares of company stock valued at $291,024 in the last ninety days. Company insiders own 6.50% of the company’s stock.

Metropolitan Bank Stock Performance

Shares of MCB stock opened at $65.47 on Friday. The firm’s 50 day moving average price is $58.12 and its 200-day moving average price is $50.38. 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 firm has a market cap of $733.26 million, a P/E ratio of 12.31 and a beta of 1.12.

Metropolitan Bank (NYSE:MCB) last announced its earnings results on Thursday, October 17th. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $66.70 million. As a group, equities research analysts predict that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Hovde Group upped their price objective on shares of Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a report 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.