SG Americas Securities LLC Has $546,000 Stock Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

SG Americas Securities LLC lifted its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,342 shares of the company’s stock after purchasing an additional 781 shares during the period. SG Americas Securities LLC owned 0.08% of Metropolitan Bank worth $546,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in shares of Metropolitan Bank by 44.8% during the 3rd quarter. Franklin Resources Inc. now owns 82,922 shares of the company’s stock worth $4,751,000 after buying an additional 25,654 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Metropolitan Bank during the 3rd quarter valued at $431,000. Segall Bryant & Hamill LLC bought a new position in Metropolitan Bank during the third quarter worth $1,893,000. Algert Global LLC grew its holdings in Metropolitan Bank by 100.6% in the third quarter. Algert Global LLC now owns 44,030 shares of the company’s stock worth $2,315,000 after purchasing an additional 22,077 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in Metropolitan Bank by 24.4% in the second quarter. Cubist Systematic Strategies LLC now owns 8,738 shares of the company’s stock valued at $368,000 after purchasing an additional 1,714 shares in the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.

Insider Activity

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

Metropolitan Bank Stock Performance

Shares of MCB opened at $63.70 on Friday. Metropolitan Bank Holding Corp. has a 52 week low of $32.46 and a 52 week high of $69.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day moving average price of $62.02 and a two-hundred day moving average price of $56.49. The firm has a market capitalization of $713.46 million, a P/E ratio of 10.76 and a beta of 1.17.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings results on Thursday, January 23rd. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.39. Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. Equities analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MCB. Piper Sandler increased their price objective on shares of Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Keefe, Bruyette & Woods increased their price target on Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Hovde Group boosted their price objective on Metropolitan Bank from $75.00 to $83.50 and gave the company an “outperform” rating in a report on Monday, January 27th.

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.