4 days Ago By Defense World Staff
JPMorgan Chase & Co. raised its position in Metropolitan Bank Holding Corp. ( NYSE:MCB – Free Report ) by 1,726.
5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 149,280 shares of the company’s stock after purchasing an additional 141,107 shares during the quarter. JPMorgan Chase & Co.
owned 1.33% of Metropolitan Bank worth $8,718,000 as of its most recent SEC filing. A number of other large investors also recently added to or reduced their stakes in MCB.
Picton Mahoney Asset Management grew its position in Metropolitan Bank by 46.9% in the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock valued at $30,000 after acquiring an additional 161 shares in the last quarter.
USA Financial Formulas acquired a new position in shares of Metropolitan Bank in the fourth quarter valued at approximately $66,000. R Squared Ltd purchased a new stake in Metropolitan Bank during the 4th quarter worth approximately $91,000. KLP Kapitalforvaltning AS acquired a new stake in Metropolitan Bank during the 4th quarter worth approximately $128,000.
Finally, The Manufacturers Life Insurance Company purchased a new position in Metropolitan Bank in the 3rd quarter valued at approximately $207,000. 79.83% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets Separately, Hovde Group increased their price target on Metropolitan Bank from $75.00 to $83.50 and gave the company an “outperform” rating in a research report on Monday, January 27th.
Insider Activity In other news, Director Dale C. Fredston sold 1,000 shares of Metropolitan Bank stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.
27, for a total value of $62,270.00. Following the sale, the director now owns 17,668 shares of the company’s stock, valued at $1,100,186.
36. The trade was a 5.36 % decrease in their ownership of the stock.
The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink . Also, CEO Mark R. Defazio sold 15,088 shares of the stock in a transaction that occurred on Monday, March 17th.
The stock was sold at an average price of $54.78, for a total value of $826,520.64.
Following the transaction, the chief executive officer now directly owns 100,628 shares of the company’s stock, valued at approximately $5,512,401.84. This trade represents a 13.
04 % decrease in their ownership of the stock. The disclosure for this sale can be found here . Over the last three months, insiders sold 21,088 shares of company stock valued at $1,161,791.
Insiders own 6.50% of the company’s stock. Metropolitan Bank Trading Up 2.
5 % MCB opened at $52.02 on Wednesday. The company has a quick ratio of 1.
00, a current ratio of 1.00 and a debt-to-equity ratio of 0.36.
Metropolitan Bank Holding Corp. has a 52 week low of $32.46 and a 52 week high of $69.
56. The business’s 50 day moving average is $56.35 and its two-hundred day moving average is $58.
96. The firm has a market cap of $583.94 million, a price-to-earnings ratio of 8.
79 and a beta of 0.95. Metropolitan Bank ( NYSE:MCB – Get Free Report ) last announced its earnings results on Thursday, January 23rd.
The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.
39. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.
89%. On average, research analysts predict that Metropolitan Bank Holding Corp. will post 7.
31 EPS for the current year. Metropolitan Bank Company Profile ( Free Report ) 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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