Franklin Resources Inc. Purchases Shares of 268,534 Metropolitan Bank Holding (MCB)

Franklin Resources Inc. purchased a new stake in shares of Metropolitan Bank Holding (NYSE:MCB) during the fourth quarter, HoldingsChannel reports. The fund purchased 268,534 shares of the company’s stock, valued at approximately $11,305,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCB. Endicott Management Co. bought a new stake in Metropolitan Bank during the fourth quarter valued at $27,013,000. Basswood Capital Management L.L.C. bought a new stake in Metropolitan Bank during the fourth quarter valued at $8,272,000. Kennedy Capital Management Inc. bought a new stake in Metropolitan Bank during the fourth quarter valued at $8,143,000. BlackRock Inc. bought a new stake in Metropolitan Bank during the fourth quarter valued at $6,568,000. Finally, Banc Funds Co. LLC bought a new stake in Metropolitan Bank during the fourth quarter valued at $5,473,000. 44.93% of the stock is currently owned by institutional investors and hedge funds.

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MCB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Metropolitan Bank in a research report on Monday, December 4th. They set an “overweight” rating and a $50.00 price objective on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Metropolitan Bank in a research report on Monday, December 4th. They set an “outperform” rating and a $50.00 price objective on the stock. Piper Jaffray Companies initiated coverage on shares of Metropolitan Bank in a research report on Monday, December 4th. They set a “neutral” rating and a $46.00 price objective on the stock. ValuEngine raised shares of Metropolitan Bank from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Finally, Zacks Investment Research raised shares of Metropolitan Bank from a “hold” rating to a “strong-buy” rating and set a $54.00 price objective on the stock in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Metropolitan Bank has an average rating of “Buy” and a consensus price target of $50.00.

Metropolitan Bank Holding (MCB) opened at $41.67 on Monday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.75. Metropolitan Bank Holding has a 1 year low of $36.35 and a 1 year high of $51.30.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings data on Monday, January 29th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.53. The company had revenue of $21.82 million for the quarter, compared to the consensus estimate of $16.87 million. equities analysts expect that Metropolitan Bank Holding will post 3.09 earnings per share for the current year.

In related news, COO Gerard A. Perri acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were bought at an average price of $45.43 per share, with a total value of $90,860.00. The transaction was disclosed in a filing with the SEC, which is available through this link.

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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.

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Institutional Ownership by Quarter for Metropolitan Bank (NYSE:MCB)

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