Separately, Zacks Investment Research upgraded shares of Metropolitan Bank from a strong sell rating to a hold rating in a research report on Tuesday, October 8th.
Shares of Metropolitan Bank stock traded up $0.78 during trading hours on Thursday, reaching $39.80. The stock had a trading volume of 15,863 shares, compared to its average volume of 17,476. The stock’s 50 day moving average is $38.70 and its 200 day moving average is $39.81. The firm has a market capitalization of $324.64 million, a PE ratio of 11.75 and a beta of 1.36. Metropolitan Bank has a twelve month low of $29.05 and a twelve month high of $44.99. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.76.
Several hedge funds have recently added to or reduced their stakes in MCB. Marshall Wace LLP increased its stake in shares of Metropolitan Bank by 331.6% during the first quarter. Marshall Wace LLP now owns 6,059 shares of the company’s stock worth $211,000 after purchasing an additional 4,655 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Metropolitan Bank during the first quarter worth about $99,000. Joel Isaacson & Co. LLC purchased a new stake in shares of Metropolitan Bank during the second quarter worth about $214,000. Strs Ohio increased its stake in shares of Metropolitan Bank by 6.9% during the second quarter. Strs Ohio now owns 7,700 shares of the company’s stock worth $338,000 after purchasing an additional 500 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Metropolitan Bank during the second quarter worth about $705,000. 52.21% of the stock is owned by institutional investors and hedge funds.
Metropolitan Bank Company 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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