R Squared Ltd Takes $91,000 Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

R Squared Ltd bought a new position in Metropolitan Bank Holding Corp. (NYSE:MCB) in the fourth quarter, Holdings Channel reports. The institutional investor bought 1,550 shares of the company’s stock, valued at approximately $91,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 DIFC Ltd bought a new stake in shares of Metropolitan Bank in the 2nd quarter worth approximately $27,000. USA Financial Formulas purchased a new position in Metropolitan Bank in the 4th quarter worth $66,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in Metropolitan Bank by 212.7% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company’s stock worth $71,000 after purchasing an additional 921 shares during the last quarter. CWM LLC boosted its position in Metropolitan Bank by 127.0% during the third quarter. CWM LLC now owns 1,780 shares of the company’s stock valued at $94,000 after buying an additional 996 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in shares of Metropolitan Bank by 104.5% during the second quarter. Point72 Asset Management L.P. now owns 4,500 shares of the company’s stock valued at $189,000 after buying an additional 2,300 shares during the last quarter. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Price Performance

Shares of MCB stock opened at $64.11 on Friday. Metropolitan Bank Holding Corp. has a fifty-two week low of $32.46 and a fifty-two week high of $69.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50 day moving average price is $62.06 and its 200-day moving average price is $56.34. The firm has a market cap of $718.07 million, a P/E ratio of 12.05 and a beta of 1.17.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.39. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%. On average, equities research analysts anticipate that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MCB shares. Piper Sandler boosted their target price on Metropolitan Bank from $67.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Hovde Group boosted their price objective on Metropolitan Bank from $75.00 to $83.50 and gave the company an “outperform” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods raised their target price on shares of Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

Insider Buying and Selling

In other Metropolitan Bank news, EVP Nick Rosenberg sold 1,250 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $65.17, for a total value of $81,462.50. Following the sale, the executive vice president now owns 30,193 shares in the company, valued at approximately $1,967,677.81. This represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Lublin sold 3,000 shares of Metropolitan Bank stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $58.77, for a total transaction of $176,310.00. Following the transaction, the executive vice president now owns 52,253 shares of the company’s stock, valued at $3,070,908.81. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.50% of the stock is owned by insiders.

About Metropolitan Bank

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.