Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in Metropolitan Bank Holding Corp. (NYSE:MCB) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,348 shares of the company’s stock after buying an additional 595 shares during the period. Charles Schwab Investment Management Inc. owned 0.27% of Metropolitan Bank worth $1,772,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Basswood Capital Management L.L.C. grew its stake in shares of Metropolitan Bank by 176.8% in the third quarter. Basswood Capital Management L.L.C. now owns 607,805 shares of the company’s stock worth $31,958,000 after acquiring an additional 388,200 shares in the last quarter. Franklin Resources Inc. raised its stake 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. Salzhauer Michael lifted its stake in shares of Metropolitan Bank by 15.5% in the fourth quarter. Salzhauer Michael now owns 41,703 shares of the company’s stock valued at $2,435,000 after purchasing an additional 5,598 shares during the period. Empowered Funds LLC boosted its position in Metropolitan Bank by 4.9% during the fourth quarter. Empowered Funds LLC now owns 40,142 shares of the company’s stock worth $2,344,000 after purchasing an additional 1,890 shares in the last quarter. Finally, Harbor Advisors LLC grew its position in shares of Metropolitan Bank by 30.7% in the third quarter. Harbor Advisors LLC now owns 36,311 shares of the company’s stock valued at $1,909,000 after purchasing an additional 8,528 shares during the last quarter. 79.83% of the stock is owned by institutional investors and hedge funds.

Metropolitan Bank Stock Down 2.4 %

Metropolitan Bank stock opened at $55.68 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 current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $59.66 and its two-hundred day moving average price is $58.99. The stock has a market cap of $625.02 million, a price-to-earnings ratio of 9.41 and a beta of 1.17.

Metropolitan Bank (NYSE:MCB) last announced its earnings results 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 return on equity of 10.89% and a net margin of 13.55%. On average, analysts expect that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Analyst Ratings Changes

MCB has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their price target on Metropolitan Bank from $73.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler lifted their price objective on Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Hovde Group raised their price objective on Metropolitan Bank from $75.00 to $83.50 and gave the stock an “outperform” rating in a research note on Monday, January 27th.

Insider Transactions at Metropolitan Bank

In other news, EVP Scott Lublin sold 5,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $54.60, for a total value of $273,000.00. Following the completion of the sale, the executive vice president now directly owns 49,988 shares in the company, valued at approximately $2,729,344.80. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark R. Defazio sold 15,088 shares of Metropolitan Bank stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.78, for a total value of $826,520.64. Following the completion of the transaction, the chief executive officer now directly owns 100,628 shares in the company, valued at approximately $5,512,401.84. This represents a 13.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,088 shares of company stock valued at $1,161,791 over the last three months. 6.50% of the stock is owned by corporate insiders.

About Metropolitan Bank

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.