Metropolitan Bank Holding Corp. (NYSE:MCB) Position Boosted by PDT Partners LLC

PDT Partners LLC lifted its stake in Metropolitan Bank Holding Corp. (NYSE:MCB) by 66.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,178 shares of the company’s stock after purchasing an additional 5,670 shares during the quarter. PDT Partners LLC owned 0.13% of Metropolitan Bank worth $745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Verition Fund Management LLC lifted its position in Metropolitan Bank by 12.0% in the 3rd quarter. Verition Fund Management LLC now owns 6,553 shares of the company’s stock worth $345,000 after buying an additional 700 shares in the last quarter. Walleye Capital LLC increased its stake in shares of Metropolitan Bank by 26.8% in the third quarter. Walleye Capital LLC now owns 10,099 shares of the company’s stock worth $531,000 after acquiring an additional 2,136 shares during the last quarter. Martingale Asset Management L P raised its holdings in shares of Metropolitan Bank by 9.3% during the third quarter. Martingale Asset Management L P now owns 22,137 shares of the company’s stock worth $1,164,000 after acquiring an additional 1,886 shares in the last quarter. Fourthstone LLC acquired a new stake in Metropolitan Bank during the third quarter valued at $1,107,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Metropolitan Bank during the third quarter valued at $207,000. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Metropolitan Bank news, Director Robert C. Patent sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $55.32, for a total transaction of $55,320.00. Following the completion of the transaction, the director now owns 79,133 shares of the company’s stock, valued at $4,377,637.56. The trade was a 1.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $55.14, for a total value of $68,925.00. Following the completion of the sale, the executive vice president now directly owns 31,443 shares in the company, valued at approximately $1,733,767.02. This represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,973 shares of company stock valued at $291,024 over the last 90 days. 6.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Hovde Group raised their price target on Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st.

Metropolitan Bank Stock Up 1.6 %

Metropolitan Bank stock opened at $65.98 on Tuesday. The company has a market capitalization of $738.98 million, a P/E ratio of 12.40 and a beta of 1.12. Metropolitan Bank Holding Corp. has a 1-year low of $32.46 and a 1-year high of $69.56. The firm’s fifty day simple moving average is $58.38 and its 200-day simple moving average is $50.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings results on Thursday, October 17th. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.31. The company had revenue of $71.52 million during the quarter, compared to analysts’ expectations of $66.70 million. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%. Sell-side analysts forecast that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current fiscal year.

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.