JPMorgan Chase & Co. Has $430,000 Stake in Metropolitan Bank Holding Corp. (NYSE:MCB)

JPMorgan Chase & Co. increased its position in Metropolitan Bank Holding Corp. (NYSE:MCB) by 74.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,173 shares of the company’s stock after purchasing an additional 3,497 shares during the period. JPMorgan Chase & Co. owned approximately 0.07% of Metropolitan Bank worth $430,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MCB. Basswood Capital Management L.L.C. grew its position in shares of Metropolitan Bank by 176.8% during the 3rd quarter. Basswood Capital Management L.L.C. now owns 607,805 shares of the company’s stock valued at $31,958,000 after acquiring an additional 388,200 shares during the period. AQR Capital Management LLC boosted its holdings in Metropolitan Bank by 31.7% during the 2nd quarter. AQR Capital Management LLC now owns 130,340 shares of the company’s stock valued at $5,486,000 after acquiring an additional 31,397 shares during the period. Millennium Management LLC bought a new stake in Metropolitan Bank in the 2nd quarter worth $4,991,000. Assenagon Asset Management S.A. lifted its stake in Metropolitan Bank by 112.4% in the third quarter. Assenagon Asset Management S.A. now owns 89,193 shares of the company’s stock worth $4,690,000 after acquiring an additional 47,193 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Metropolitan Bank by 44.8% during the third quarter. Franklin Resources Inc. now owns 82,922 shares of the company’s stock valued at $4,751,000 after purchasing an additional 25,654 shares in the last quarter. 79.83% of the stock is owned by hedge funds and other institutional investors.

Metropolitan Bank Trading Down 0.7 %

NYSE MCB opened at $64.21 on Thursday. The company has a market capitalization of $719.19 million, a price-to-earnings ratio of 12.07 and a beta of 1.17. 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 company’s 50-day simple moving average is $62.03 and its two-hundred day simple moving average is $56.29.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.49 by $0.39. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. Equities analysts forecast that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler boosted their price target on shares of Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Hovde Group raised their price objective on Metropolitan Bank from $75.00 to $83.50 and gave the company an “outperform” rating in a research note on Monday.

Insider Buying and Selling at Metropolitan Bank

In related news, EVP Scott Lublin sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $58.77, for a total transaction of $176,310.00. Following the transaction, the executive vice president now directly owns 52,253 shares in the company, valued at approximately $3,070,908.81. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Nick Rosenberg sold 1,250 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $65.17, for a total transaction of $81,462.50. Following the transaction, the executive vice president now directly owns 30,193 shares in the company, valued at approximately $1,967,677.81. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.50% of the company’s stock.

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.