Martingale Asset Management L P Boosts Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Martingale Asset Management L P increased its stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 9.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,137 shares of the company’s stock after buying an additional 1,886 shares during the period. Martingale Asset Management L P’s holdings in Metropolitan Bank were worth $1,164,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in Metropolitan Bank during the second quarter worth about $27,000. CWM LLC increased its holdings in Metropolitan Bank by 70.1% during the second quarter. CWM LLC now owns 784 shares of the company’s stock worth $33,000 after buying an additional 323 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Metropolitan Bank during the second quarter worth about $74,000. Point72 Asset Management L.P. increased its stake in shares of Metropolitan Bank by 104.5% in the second quarter. Point72 Asset Management L.P. now owns 4,500 shares of the company’s stock worth $189,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Johnson Investment Counsel Inc. purchased a new position in shares of Metropolitan Bank in the second quarter worth about $202,000. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Insider Activity at Metropolitan Bank

In other Metropolitan Bank news, Director Robert C. Patent sold 1,000 shares of Metropolitan Bank stock in a transaction that occurred 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 sale, the director now directly owns 79,133 shares in the company, valued at $4,377,637.56. The trade was a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank 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 sale, the executive vice president now owns 31,443 shares of the company’s stock, valued at approximately $1,733,767.02. The trade was a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,973 shares of company stock valued at $291,024. Corporate insiders own 6.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Hovde Group lifted their target price on shares of 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 Price Performance

MCB opened at $64.94 on Monday. The firm has a 50-day moving average price of $58.12 and a 200-day moving average price of $50.48. The company has a market capitalization of $727.33 million, a price-to-earnings ratio of 12.21 and a beta of 1.12. Metropolitan Bank Holding Corp. has a twelve month low of $32.46 and a twelve month high of $69.56. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.36.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Thursday, October 17th. The company reported $1.86 EPS for the quarter, beating the consensus estimate 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 net margin of 12.47% and a return on equity of 10.02%. Equities analysts expect that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current year.

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.