Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Acquired by Kings Path Partners LLC

Kings Path Partners LLC lifted its stake in Metropolitan Bank Holding Corp. (NYSE:MCB) by 11.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,110 shares of the company’s stock after purchasing an additional 1,420 shares during the quarter. Kings Path Partners LLC’s holdings in Metropolitan Bank were worth $824,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in Metropolitan Bank in the second quarter worth approximately $27,000. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Metropolitan Bank by 212.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company’s stock worth $71,000 after purchasing an additional 921 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Metropolitan Bank in the second quarter valued at about $74,000. CWM LLC boosted its stake in Metropolitan Bank by 127.0% during the third quarter. CWM LLC now owns 1,780 shares of the company’s stock worth $94,000 after buying an additional 996 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of Metropolitan Bank by 104.5% during the second quarter. Point72 Asset Management L.P. now owns 4,500 shares of the company’s stock valued at $189,000 after acquiring an additional 2,300 shares during the last quarter. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Stock Up 0.7 %

Shares of NYSE:MCB traded up $0.43 during trading hours on Monday, reaching $59.93. The stock had a trading volume of 14,897 shares, compared to its average volume of 53,833. The stock has a market capitalization of $671.10 million, a price-to-earnings ratio of 11.27 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50 day moving average is $61.84 and its 200-day moving average is $53.98. Metropolitan Bank Holding Corp. has a 1 year low of $32.46 and a 1 year high of $69.56.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on MCB shares. 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. Keefe, Bruyette & Woods raised their price target on 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 target price on Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th.

Insider Activity at Metropolitan Bank

In related news, SVP Norman Scott sold 1,473 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $57.92, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock in a transaction on Monday, November 11th. The shares were sold at an average price of $65.17, for a total transaction of $81,462.50. Following the completion of the transaction, the executive vice president now owns 30,193 shares in the company, valued at approximately $1,967,677.81. This represents a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,723 shares of company stock valued at $398,409 over the last ninety days. Insiders own 6.50% of the company’s stock.

Metropolitan Bank 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.