USA Financial Formulas Acquires New Stake in Metropolitan Bank Holding Corp. (NYSE:MCB)

USA Financial Formulas bought a new position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) during the fourth quarter, HoldingsChannel.com reports. The firm bought 1,131 shares of the company’s stock, valued at approximately $66,000.

Several other hedge funds have also modified their holdings of MCB. Point72 DIFC Ltd acquired a new position in shares of Metropolitan Bank during the 2nd quarter worth about $27,000. Verition Fund Management LLC lifted its position in Metropolitan Bank by 12.0% during the 3rd quarter. Verition Fund Management LLC now owns 6,553 shares of the company’s stock worth $345,000 after acquiring an additional 700 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Metropolitan Bank by 212.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company’s stock worth $71,000 after purchasing an additional 921 shares during the period. CWM LLC boosted its holdings in shares of Metropolitan Bank by 127.0% in the third quarter. CWM LLC now owns 1,780 shares of the company’s stock valued at $94,000 after acquiring an additional 996 shares in the last quarter. Finally, Kings Path Partners LLC increased its position in Metropolitan Bank by 11.2% during the 4th quarter. Kings Path Partners LLC now owns 14,110 shares of the company’s stock worth $824,000 after purchasing an additional 1,420 shares during the period. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on MCB. Keefe, Bruyette & Woods upped their target price 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. Piper Sandler upped 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, Hovde Group increased 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 Down 1.1 %

NYSE:MCB opened at $60.62 on Friday. 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 company has a market capitalization of $678.98 million, a price-to-earnings ratio of 11.40 and a beta of 1.17. The stock has a 50-day simple moving average of $62.29 and a 200 day simple moving average of $55.05.

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

Insider Transactions at Metropolitan Bank

In related news, EVP Scott Lublin sold 3,000 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $58.77, for a total value of $176,310.00. Following the completion of the transaction, the executive vice president now owns 52,253 shares in the company, valued at $3,070,908.81. This trade represents a 5.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nick Rosenberg sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $65.17, for a total transaction of $81,462.50. Following the sale, the executive vice president now owns 30,193 shares in the company, valued at $1,967,677.81. This represents a 3.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,723 shares of company stock valued at $398,409. 6.50% of the stock is currently owned by corporate insiders.

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.