Cubist Systematic Strategies LLC Has $368,000 Stock Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Cubist Systematic Strategies LLC boosted its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 24.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,738 shares of the company’s stock after buying an additional 1,714 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.08% of Metropolitan Bank worth $368,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Metropolitan Bank by 4.6% during 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. Pacific Ridge Capital Partners LLC grew its stake in Metropolitan Bank by 1.4% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 266,521 shares of the company’s stock valued at $10,261,000 after buying an additional 3,767 shares during the last quarter. American Century Companies Inc. raised its holdings in Metropolitan Bank by 21.1% in the 2nd quarter. American Century Companies Inc. now owns 186,440 shares of the company’s stock valued at $7,847,000 after acquiring an additional 32,491 shares during the period. AQR Capital Management LLC lifted its position in Metropolitan Bank by 31.7% during the second quarter. AQR Capital Management LLC now owns 130,340 shares of the company’s stock worth $5,486,000 after acquiring an additional 31,397 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Metropolitan Bank during the second quarter worth approximately $4,991,000. Institutional investors own 79.83% of the company’s stock.

Insider Buying and Selling at Metropolitan Bank

In related news, CEO Mark R. Defazio sold 34,986 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 181,208 shares in the company, valued at $10,028,050.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Mark R. Defazio sold 34,986 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $55.34, for a total transaction of $1,936,125.24. Following the completion of the transaction, the chief executive officer now directly owns 181,208 shares in the company, valued at $10,028,050.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nick Rosenberg sold 1,250 shares of the 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 completion of the transaction, the executive vice president now directly owns 31,443 shares of the company’s stock, valued at approximately $1,733,767.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,241 shares of company stock valued at $2,060,436. 6.50% of the stock is currently owned by corporate insiders.

Metropolitan Bank Stock Performance

MCB opened at $56.03 on Monday. The firm has a market cap of $627.14 million, a P/E ratio of 9.22 and a beta of 1.13. The business’s fifty day moving average is $50.13 and its 200-day moving average is $45.14. Metropolitan Bank Holding Corp. has a 52-week low of $30.20 and a 52-week high of $57.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99.

Metropolitan Bank (NYSE:MCB) last released its earnings results on Thursday, July 18th. The company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.07). The firm had revenue of $121.90 million during the quarter, compared to the consensus estimate of $68.02 million. Metropolitan Bank had a net margin of 15.22% and a return on equity of 10.47%. During the same period in the prior year, the business earned $1.37 earnings per share. Sell-side analysts expect that Metropolitan Bank Holding Corp. will post 6.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MCB has been the topic of a number of recent research reports. Hovde Group began coverage on Metropolitan Bank in a research note on Thursday, September 19th. They set an “outperform” rating and a $65.50 target price on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $67.50 target price (up previously from $55.00) on shares of Metropolitan Bank in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd.

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.