Metropolitan Bank (NYSE:MCB – Free Report) had its price objective cut by Keefe, Bruyette & Woods from $73.00 to $66.00 in a report published on Monday morning, Benzinga reports. They currently have an outperform rating on the stock.
Several other brokerages have also recently issued reports on MCB. Hovde Group began coverage on shares of Metropolitan Bank in a report on Wednesday, September 27th. They issued an outperform rating and a $50.00 target price for the company. Piper Sandler assumed coverage on shares of Metropolitan Bank in a research report on Friday, December 15th. They issued an overweight rating and a $60.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their target price on shares of Metropolitan Bank from $60.00 to $50.00 and set an overweight rating on the stock in a report on Thursday, October 5th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of Buy and an average price target of $56.50.
Metropolitan Bank Trading Down 1.1 %
Institutional Investors Weigh In On Metropolitan Bank
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of Metropolitan Bank by 9.5% during the 1st quarter. FMR LLC now owns 870,560 shares of the company’s stock worth $29,503,000 after acquiring an additional 75,508 shares during the period. Macquarie Group Ltd. grew its position in Metropolitan Bank by 4.7% in the 4th quarter. Macquarie Group Ltd. now owns 760,540 shares of the company’s stock valued at $44,621,000 after acquiring an additional 33,831 shares in the last quarter. BlackRock Inc. grew its position in Metropolitan Bank by 0.9% in the 3rd quarter. BlackRock Inc. now owns 718,390 shares of the company’s stock valued at $46,235,000 after acquiring an additional 6,305 shares in the last quarter. Patriot Financial Partners GP LP grew its position in shares of Metropolitan Bank by 33.3% during the third quarter. Patriot Financial Partners GP LP now owns 668,684 shares of the company’s stock worth $24,260,000 after buying an additional 167,100 shares in the last quarter. Finally, State Street Corp grew its position in shares of Metropolitan Bank by 79.0% during the second quarter. State Street Corp now owns 666,481 shares of the company’s stock worth $23,147,000 after buying an additional 294,241 shares in the last quarter. Institutional investors and hedge funds own 89.02% 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.
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