Quantbot Technologies LP Grows Stock Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Quantbot Technologies LP increased its holdings in Metropolitan Bank Holding Corp. (NYSE:MCB) by 128.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,422 shares of the company’s stock after acquiring an additional 3,617 shares during the quarter. Quantbot Technologies LP’s holdings in Metropolitan Bank were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in MCB. Royce & Associates LP purchased a new position in shares of Metropolitan Bank during the 4th quarter worth $2,174,000. Picton Mahoney Asset Management raised its holdings in Metropolitan Bank by 46.9% in the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock worth $30,000 after purchasing an additional 161 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Metropolitan Bank by 68.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,819 shares of the company’s stock valued at $807,000 after purchasing an additional 5,624 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Metropolitan Bank during the fourth quarter valued at about $1,405,000. Finally, Charles Schwab Investment Management Inc. increased its position in Metropolitan Bank by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,348 shares of the company’s stock worth $1,772,000 after buying an additional 595 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Dale C. Fredston sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.27, for a total transaction of $62,270.00. Following the completion of the transaction, the director now directly owns 17,668 shares of the company’s stock, valued at approximately $1,100,186.36. This represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Lublin sold 5,000 shares of Metropolitan Bank stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.60, for a total value of $273,000.00. Following the completion of the sale, the executive vice president now directly owns 49,988 shares in the company, valued at approximately $2,729,344.80. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,088 shares of company stock worth $1,161,791 in the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

Metropolitan Bank Stock Performance

NYSE:MCB opened at $55.68 on Friday. The stock has a 50-day moving average price of $59.66 and a 200 day moving average price 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 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 P/E ratio of 9.41 and a beta of 1.17.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings data on Thursday, January 23rd. The company reported $1.88 earnings per share (EPS) 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%. Equities research analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Hovde Group lifted their price objective on Metropolitan Bank from $75.00 to $83.50 and gave the company an “outperform” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods upped their price target 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. Finally, Piper Sandler increased their price objective 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.