14,601 Shares in Metropolitan Bank Holding Corp. $MCB Bought by Man Group plc

Man Group plc acquired a new position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,601 shares of the company’s stock, valued at approximately $1,442,000.

Other hedge funds have also bought and sold shares of the company. Emerald Advisers LLC purchased a new stake in shares of Metropolitan Bank in the first quarter valued at $25,000. Royal Bank of Canada lifted its holdings in shares of Metropolitan Bank by 70.4% in the 4th quarter. Royal Bank of Canada now owns 346 shares of the company’s stock worth $27,000 after acquiring an additional 143 shares during the last quarter. Quarry LP purchased a new position in shares of Metropolitan Bank during the 3rd quarter worth about $48,000. Kestra Advisory Services LLC purchased a new position in shares of Metropolitan Bank during the 4th quarter worth about $51,000. Finally, Tower Research Capital LLC TRC grew its holdings in Metropolitan Bank by 41.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,670 shares of the company’s stock valued at $117,000 after purchasing an additional 490 shares during the last quarter. Institutional investors own 79.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on MCB shares. UBS Group reduced their price objective on shares of Metropolitan Bank from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 28th. Weiss Ratings restated a “buy (b)” rating on shares of Metropolitan Bank in a research report on Friday, August 7th. Wall Street Zen cut Metropolitan Bank from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Keefe, Bruyette & Woods reduced their price target on Metropolitan Bank from $120.00 to $110.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Metropolitan Bank currently has a consensus rating of “Buy” and a consensus price target of $105.00.

Metropolitan Bank Stock Performance

Shares of Metropolitan Bank stock opened at $91.67 on Thursday. The firm has a market cap of $1.14 billion, a P/E ratio of 11.60 and a beta of 0.97. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.02. Metropolitan Bank Holding Corp. has a 12 month low of $64.66 and a 12 month high of $102.04. The stock’s fifty day moving average price is $94.59 and its 200-day moving average price is $90.40.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings data on Tuesday, July 21st. The company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.76). Metropolitan Bank had a return on equity of 10.22% and a net margin of 14.31%.The business had revenue of $93.01 million during the quarter, compared to analysts’ expectations of $93.39 million.

Metropolitan Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, July 31st. This is a boost from Metropolitan Bank’s previous quarterly dividend of $0.25. Metropolitan Bank’s dividend payout ratio is currently 17.72%.

Insider Transactions at Metropolitan Bank

In other news, EVP Nick Rosenberg sold 1,807 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $100.42, for a total transaction of $181,458.94. Following the transaction, the executive vice president directly owned 22,202 shares in the company, valued at approximately $2,229,524.84. This trade represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert C. Patent sold 10,000 shares of Metropolitan Bank stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $92.29, for a total transaction of $922,900.00. Following the transaction, the director directly owned 76,185 shares in the company, valued at approximately $7,031,113.65. The trade was a 11.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 21,897 shares of company stock valued at $2,077,462. Company insiders own 5.50% of the company’s stock.

About Metropolitan Bank

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.