UBS Group AG Boosts Stock Position in Metropolitan Bank Holding Corp. $MCB

UBS Group AG increased its stake in Metropolitan Bank Holding Corp. (NYSE:MCB) by 363.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,832 shares of the company’s stock after buying an additional 50,844 shares during the period. UBS Group AG’s holdings in Metropolitan Bank were worth $4,951,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCB. Royal Bank of Canada grew its stake in shares of Metropolitan Bank by 11.7% in the 1st quarter. Royal Bank of Canada now owns 7,429 shares of the company’s stock worth $416,000 after buying an additional 778 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Metropolitan Bank by 3.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company’s stock worth $350,000 after buying an additional 237 shares during the last quarter. Empowered Funds LLC boosted its stake in Metropolitan Bank by 5.3% during the 1st quarter. Empowered Funds LLC now owns 42,268 shares of the company’s stock valued at $2,367,000 after purchasing an additional 2,126 shares during the last quarter. Quantbot Technologies LP boosted its stake in Metropolitan Bank by 39.2% during the 2nd quarter. Quantbot Technologies LP now owns 6,074 shares of the company’s stock valued at $425,000 after purchasing an additional 1,709 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Metropolitan Bank by 854.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 41,747 shares of the company’s stock valued at $2,922,000 after purchasing an additional 37,374 shares during the last quarter. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on MCB. Wall Street Zen upgraded Metropolitan Bank from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Weiss Ratings upgraded Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Keefe, Bruyette & Woods increased their target price on Metropolitan Bank from $105.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, UBS Group began coverage on Metropolitan Bank in a research note on Thursday, April 16th. They set a “neutral” rating and a $97.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $95.00.

Metropolitan Bank Stock Performance

Shares of MCB opened at $91.62 on Friday. The business’s fifty day simple moving average is $86.05 and its two-hundred day simple moving average is $82.97. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 11.28 and a beta of 1.02. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.02. Metropolitan Bank Holding Corp. has a 12 month low of $62.58 and a 12 month high of $97.84.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings results on Tuesday, April 21st. The company reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.73. The firm had revenue of $88.49 million for the quarter, compared to analysts’ expectations of $87.33 million. Metropolitan Bank had a return on equity of 10.95% and a net margin of 15.89%.

Metropolitan Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Friday, May 1st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 1st. This is a positive change from Metropolitan Bank’s previous quarterly dividend of $0.20. Metropolitan Bank’s payout ratio is currently 12.32%.

Metropolitan Bank Company Profile

Metropolitan Bank (NYSE:MCB), through its principal subsidiary Metropolitan Commercial Bank, operates as a New York–based regional financial institution providing a range of commercial and consumer banking services. The company offers deposit products including checking, savings and money market accounts, as well as business and personal certificates of deposit. On the lending side, Metropolitan Bank extends commercial real estate financing, equipment loans, working capital lines of credit and consumer installment loans tailored to the needs of small- and medium-sized enterprises and individual customers.

In addition to traditional deposit and lending services, Metropolitan Bank provides specialized treasury and cash-management solutions, foreign exchange services and letters of credit for both domestic businesses and multinational clients.