Algert Global LLC Has $2.32 Million Stock Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Algert Global LLC raised its stake in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 100.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,030 shares of the company's stock after acquiring an additional 22,077 shares during the period. Algert Global LLC owned about 0.39% of Metropolitan Bank worth $2,315,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Metropolitan Bank during the third quarter worth approximately $431,000. Segall Bryant & Hamill LLC acquired a new stake in Metropolitan Bank during the 3rd quarter valued at $1,893,000. Quest Partners LLC increased its holdings in Metropolitan Bank by 485.7% during the 3rd quarter. Quest Partners LLC now owns 8,458 shares of the company's stock valued at $445,000 after purchasing an additional 7,014 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Metropolitan Bank by 14.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 22,905 shares of the company's stock valued at $1,204,000 after purchasing an additional 2,811 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in Metropolitan Bank by 5.2% in the third quarter. Empowered Funds LLC now owns 38,252 shares of the company's stock worth $2,011,000 after purchasing an additional 1,876 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Metropolitan Bank Trading Up 1.6 %

NYSE MCB traded up $1.03 during trading on Wednesday, reaching $67.29. 59,650 shares of the stock traded hands, compared to its average volume of 94,275. 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 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 $753.51 million, a price-to-earnings ratio of 12.65 and a beta of 1.12. The stock's 50-day moving average price is $57.60 and its 200 day moving average price is $50.10.

Metropolitan Bank (NYSE:MCB - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.31. The business had revenue of $71.52 million during the quarter, compared to analysts' expectations of $66.70 million. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. Analysts predict that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Transactions at Metropolitan Bank

In related news, EVP Nick Rosenberg sold 1,250 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $65.17, for a total value of $81,462.50. Following the completion of the transaction, the executive vice president now directly owns 30,193 shares of the company's stock, valued at approximately $1,967,677.81. This represents a 3.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert C. Patent sold 1,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $55.32, for a total value of $55,320.00. Following the transaction, the director now owns 79,133 shares of the company's stock, valued at approximately $4,377,637.56. This trade represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,973 shares of company stock valued at $291,024 over the last 90 days. 6.50% of the stock is owned by company 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.