Basswood Capital Management L.L.C. Grows Stake in Metropolitan Bank Holding Corp. (NYSE:MCB)

Basswood Capital Management L.L.C. increased its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 176.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 607,805 shares of the company’s stock after purchasing an additional 388,200 shares during the quarter. Metropolitan Bank makes up approximately 1.6% of Basswood Capital Management L.L.C.’s portfolio, making the stock its 19th biggest position. Basswood Capital Management L.L.C. owned approximately 5.43% of Metropolitan Bank worth $31,958,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Metropolitan Bank by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 628,996 shares of the company’s stock valued at $24,216,000 after buying an additional 27,499 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Metropolitan Bank in the 1st quarter valued at about $1,876,000. CWM LLC boosted its position in shares of Metropolitan Bank by 70.1% in the 2nd quarter. CWM LLC now owns 784 shares of the company’s stock valued at $33,000 after purchasing an additional 323 shares during the period. SG Americas Securities LLC purchased a new position in Metropolitan Bank during the 2nd quarter worth approximately $273,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Metropolitan Bank during the second quarter worth approximately $361,000. 79.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Hovde Group increased their price objective on Metropolitan Bank from $65.50 to $68.00 and gave the company an “outperform” rating in a report on Monday, October 21st.

Insiders Place Their Bets

In other Metropolitan Bank news, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $65.17, for a total value of $81,462.50. Following the completion of the sale, the executive vice president now owns 30,193 shares of the company’s stock, valued at approximately $1,967,677.81. This trade represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert C. Patent sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $55.32, for a total transaction of $55,320.00. Following the transaction, the director now directly owns 79,133 shares in the company, valued at approximately $4,377,637.56. This trade represents a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,973 shares of company stock worth $291,024. 6.50% of the stock is owned by insiders.

Metropolitan Bank Stock Performance

NYSE MCB opened at $64.94 on Monday. The business’s 50-day moving average price is $58.12 and its 200 day moving average price is $50.48. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.36. The firm has a market cap of $727.33 million, a P/E ratio of 12.21 and a beta of 1.12. Metropolitan Bank Holding Corp. has a 52-week low of $32.46 and a 52-week high of $69.56.

Metropolitan Bank (NYSE:MCB) last released its earnings results on Thursday, October 17th. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.31. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%. The business had revenue of $71.52 million for the quarter, compared to analyst estimates of $66.70 million. On average, equities research analysts expect that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current year.

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.