GSA Capital Partners LLP Buys 11,394 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

GSA Capital Partners LLP raised its stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 146.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,172 shares of the company’s stock after acquiring an additional 11,394 shares during the period. GSA Capital Partners LLP owned about 0.17% of Metropolitan Bank worth $1,008,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Point72 DIFC Ltd purchased a new position in Metropolitan Bank during the second quarter worth about $27,000. CWM LLC lifted its position in shares of Metropolitan Bank by 70.1% during the 2nd quarter. CWM LLC now owns 784 shares of the company’s stock worth $33,000 after buying an additional 323 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Metropolitan Bank in the 2nd quarter worth approximately $74,000. Allspring Global Investments Holdings LLC bought a new position in shares of Metropolitan Bank in the first quarter valued at approximately $103,000. Finally, Point72 Asset Management L.P. increased its position in shares of Metropolitan Bank by 104.5% during the second quarter. Point72 Asset Management L.P. now owns 4,500 shares of the company’s stock valued at $189,000 after acquiring an additional 2,300 shares during the last quarter. 79.83% of the stock is owned by hedge funds and other institutional investors.

Metropolitan Bank Stock Performance

Shares of MCB opened at $64.51 on Friday. Metropolitan Bank Holding Corp. has a 1 year low of $32.46 and a 1 year high of $66.59. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 0.99. The stock’s fifty day moving average price is $54.96 and its two-hundred day moving average price is $48.60. The firm has a market cap of $722.51 million, a PE ratio of 12.13 and a beta of 1.12.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings data on Thursday, October 17th. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.31. The business had revenue of $71.52 million for 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%. On average, equities research analysts forecast that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Hovde Group boosted their price objective on Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. increased their price target on shares of Metropolitan Bank from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $67.50 price objective (up previously from $55.00) on shares of Metropolitan Bank in a research report on Tuesday, July 23rd.

Insider Activity

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

Metropolitan Bank 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.