Fourthstone LLC Acquires New Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Fourthstone LLC bought a new position in Metropolitan Bank Holding Corp. (NYSE:MCB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,050 shares of the company’s stock, valued at approximately $1,107,000. Fourthstone LLC owned about 0.19% of Metropolitan Bank at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new position in shares of Metropolitan Bank during the third quarter valued at $207,000. Algert Global LLC increased its stake in Metropolitan Bank by 100.6% during the 3rd quarter. Algert Global LLC now owns 44,030 shares of the company’s stock valued at $2,315,000 after buying an additional 22,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Metropolitan Bank during the 3rd quarter worth about $431,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Metropolitan Bank in the 3rd quarter worth approximately $1,893,000. Finally, Quest Partners LLC boosted its holdings in shares of Metropolitan Bank by 485.7% in the third quarter. Quest Partners LLC now owns 8,458 shares of the company’s stock valued at $445,000 after acquiring an additional 7,014 shares in the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.

Insider Buying and Selling

In other Metropolitan Bank news, SVP Norman Scott sold 1,473 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.92, for a total transaction of $85,316.16. Following the sale, the senior vice president now owns 11,732 shares in the company, valued at approximately $679,517.44. The trade was a 11.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction dated 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 owns 31,443 shares of the company’s stock, valued at approximately $1,733,767.02. The trade was a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,973 shares of company stock worth $291,024. Corporate insiders own 6.50% of the company’s stock.

Metropolitan Bank Price Performance

MCB stock traded up $1.03 during trading hours on Thursday, hitting $67.29. 59,650 shares of the stock traded hands, compared to its average volume of 94,275. 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 one year low of $32.46 and a one year high of $69.56. The company has a market cap of $753.51 million, a P/E ratio of 12.65 and a beta of 1.12.

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

Wall Street Analysts Forecast Growth

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

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.