Fourthstone LLC Purchases New Stake in Metropolitan Bank Holding Corp. (NYSE:MCB)

Fourthstone LLC acquired a new position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 21,050 shares of the company’s stock, valued at approximately $1,107,000.

Several other institutional investors have also made changes to their positions in the stock. Millennium Management LLC acquired a new position in Metropolitan Bank in the second quarter worth approximately $4,991,000. Price T Rowe Associates Inc. MD bought a new position in shares of Metropolitan Bank in the 1st quarter valued at approximately $1,876,000. Assenagon Asset Management S.A. lifted its holdings in Metropolitan Bank by 112.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 89,193 shares of the company’s stock worth $4,690,000 after purchasing an additional 47,193 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Metropolitan Bank during the third quarter worth approximately $1,893,000. Finally, Marshall Wace LLP grew its holdings in Metropolitan Bank by 193.1% during the second quarter. Marshall Wace LLP now owns 50,350 shares of the company’s stock valued at $2,119,000 after purchasing an additional 33,171 shares during the last quarter. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Metropolitan Bank Stock Performance

MCB stock traded up $1.03 during midday trading on Thursday, hitting $67.29. The stock had a trading volume of 59,650 shares, compared to its average volume of 94,275. The firm has a market capitalization of $753.51 million, a price-to-earnings ratio of 12.65 and a beta of 1.12. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The stock has a 50-day simple moving average of $57.60 and a 200 day simple moving average of $50.10. Metropolitan Bank Holding Corp. has a 52 week low of $32.46 and a 52 week high of $69.56.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings data on Thursday, October 17th. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.31. The company had revenue of $71.52 million during the quarter, compared to the consensus estimate of $66.70 million. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. As a group, equities research analysts anticipate that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Hovde Group upped their price objective on shares of Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a report on Monday, October 21st.

Insiders Place Their Bets

In other Metropolitan Bank news, EVP Nick Rosenberg sold 1,250 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $55.14, for a total transaction of $68,925.00. Following the completion of the transaction, the executive vice president now directly owns 31,443 shares in the company, valued at $1,733,767.02. This represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Norman Scott sold 1,473 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $57.92, for a total transaction of $85,316.16. Following the completion of the sale, the senior vice president now owns 11,732 shares in the company, valued at $679,517.44. This represents a 11.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,973 shares of company stock worth $291,024 over the last quarter. Company insiders own 6.50% of the company’s stock.

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.