Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Bought by Barclays PLC

Barclays PLC boosted its stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 54.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,461 shares of the company’s stock after buying an additional 8,233 shares during the period. Barclays PLC owned about 0.21% of Metropolitan Bank worth $1,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Metropolitan Bank during the third quarter worth approximately $431,000. Segall Bryant & Hamill LLC bought a new position in shares of Metropolitan Bank during the third quarter worth about $1,893,000. Algert Global LLC boosted its holdings in Metropolitan Bank by 100.6% during 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 last quarter. Cubist Systematic Strategies LLC lifted its position in Metropolitan Bank by 24.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,738 shares of the company’s stock worth $368,000 after buying an additional 1,714 shares in the last quarter. Finally, Creative Planning bought a new stake in Metropolitan Bank during the third quarter worth about $276,000. 79.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Norman Scott sold 1,473 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $57.92, for a total value of $85,316.16. Following the sale, the senior vice president now owns 11,732 shares of the company’s stock, valued at approximately $679,517.44. This trade represents a 11.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott Lublin sold 3,000 shares of the firm’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 position. The disclosure for this sale can be found here. Insiders sold a total of 6,723 shares of company stock valued at $398,409 over the last 90 days. Insiders own 6.50% of the company’s stock.

Metropolitan Bank Price Performance

NYSE:MCB opened at $57.53 on Tuesday. Metropolitan Bank Holding Corp. has a one year low of $32.46 and a one year 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 $62.24 and a 200 day moving average price of $54.85. The stock has a market cap of $644.22 million, a PE ratio of 10.81 and a beta of 1.17.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings data on Thursday, October 17th. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.31. The company had revenue of $71.52 million for the quarter, compared to the consensus estimate of $66.70 million. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. Equities research analysts expect that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.