Quantbot Technologies LP Buys 3,617 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

Quantbot Technologies LP increased its position in Metropolitan Bank Holding Corp. (NYSE:MCB) by 128.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,422 shares of the company’s stock after buying an additional 3,617 shares during the quarter. Quantbot Technologies LP owned 0.06% of Metropolitan Bank worth $375,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management increased its position in shares of Metropolitan Bank by 46.9% in the fourth quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock valued at $30,000 after acquiring an additional 161 shares during the period. USA Financial Formulas bought a new position in Metropolitan Bank during the 4th quarter valued at approximately $66,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Metropolitan Bank by 212.7% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company’s stock worth $71,000 after buying an additional 921 shares during the period. R Squared Ltd bought a new stake in shares of Metropolitan Bank in the 4th quarter worth approximately $91,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Metropolitan Bank during the third quarter valued at approximately $207,000. 79.83% of the stock is currently owned by institutional investors.

Metropolitan Bank Stock Down 2.4 %

Shares of NYSE:MCB opened at $55.68 on Friday. Metropolitan Bank Holding Corp. has a 12-month low of $32.46 and a 12-month high of $69.56. The stock has a market capitalization of $625.02 million, a price-to-earnings ratio of 9.41 and a beta of 1.17. The stock has a fifty day simple moving average of $59.66 and a two-hundred day simple moving average of $58.93. 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, January 23rd. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.39. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. On average, research analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

Insider Transactions at Metropolitan Bank

In related news, Director Dale C. Fredston sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.27, for a total value of $62,270.00. Following the sale, the director now owns 17,668 shares in the company, valued at approximately $1,100,186.36. This trade represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Scott Lublin sold 5,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $54.60, for a total transaction of $273,000.00. Following the sale, the executive vice president now owns 49,988 shares of the company’s stock, valued at approximately $2,729,344.80. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,088 shares of company stock worth $1,161,791 over the last quarter. 6.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MCB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Metropolitan Bank from $73.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Hovde Group upped their price target on Metropolitan Bank from $75.00 to $83.50 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Finally, Piper Sandler increased their price target on shares of Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th.

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.