Salzhauer Michael Purchases 842 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

Salzhauer Michael increased its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,100 shares of the company’s stock after acquiring an additional 842 shares during the period. Metropolitan Bank comprises approximately 1.2% of Salzhauer Michael’s holdings, making the stock its 18th largest holding. Salzhauer Michael owned approximately 0.34% of Metropolitan Bank worth $1,604,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD bought a new position in shares of Metropolitan Bank in the first quarter worth about $1,876,000. Acadian Asset Management LLC raised its position in Metropolitan Bank by 133.4% in the 1st quarter. Acadian Asset Management LLC now owns 48,548 shares of the company’s stock worth $1,867,000 after purchasing an additional 27,752 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Metropolitan Bank by 21.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 82,931 shares of the company’s stock worth $3,193,000 after buying an additional 14,547 shares in the last quarter. Vanguard Group Inc. boosted its position in Metropolitan Bank by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 628,996 shares of the company’s stock valued at $24,216,000 after buying an additional 27,499 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Metropolitan Bank in the 2nd quarter valued at $273,000. 79.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MCB shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $67.50 price objective (up from $55.00) on shares of Metropolitan Bank in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price target on shares of Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd.

Metropolitan Bank Price Performance

Shares of MCB opened at $50.74 on Monday. The stock has a market cap of $567.78 million, a P/E ratio of 8.35 and a beta of 1.13. Metropolitan Bank Holding Corp. has a 1 year low of $30.20 and a 1 year high of $57.69. The stock’s 50-day moving average price is $49.48 and its two-hundred day moving average price is $43.17. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.07). Metropolitan Bank had a return on equity of 10.47% and a net margin of 15.22%. The firm had revenue of $121.90 million for the quarter, compared to the consensus estimate of $68.02 million. During the same period in the previous year, the business earned $1.37 EPS. On average, equities analysts predict that Metropolitan Bank Holding Corp. will post 6.03 earnings per share for the current year.

Insider Activity

In related news, CEO Mark R. Defazio sold 34,986 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $55.34, for a total transaction of $1,936,125.24. Following the sale, the chief executive officer now owns 181,208 shares of the company’s stock, valued at approximately $10,028,050.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Metropolitan Bank news, CEO Mark R. Defazio sold 34,986 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $55.34, for a total value of $1,936,125.24. Following the completion of the sale, the chief executive officer now directly owns 181,208 shares in the company, valued at $10,028,050.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott Lublin sold 1,005 shares of Metropolitan Bank stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $55.11, for a total value of $55,385.55. Following the transaction, the executive vice president now owns 57,077 shares in the company, valued at approximately $3,145,513.47. The disclosure for this sale can be found here. 6.50% of the stock is owned by company insiders.

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.