Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Metropolitan Bank Holding Corp. (NYSE:MCB)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 68.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,819 shares of the company's stock after purchasing an additional 5,624 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of Metropolitan Bank worth $807,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. USA Financial Formulas acquired a new position in Metropolitan Bank in the 4th quarter valued at about $66,000. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Metropolitan Bank by 212.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company's stock worth $71,000 after buying an additional 921 shares during the period. R Squared Ltd acquired a new stake in shares of Metropolitan Bank in the fourth quarter valued at $91,000. The Manufacturers Life Insurance Company acquired a new position in Metropolitan Bank during the 3rd quarter worth about $207,000. Finally, Centiva Capital LP purchased a new position in Metropolitan Bank during the 3rd quarter valued at about $248,000. Hedge funds and other institutional investors own 79.83% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MCB. Hovde Group increased their price target on shares of Metropolitan Bank from $75.00 to $83.50 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods raised their price target on shares of Metropolitan Bank from $73.00 to $85.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Finally, Piper Sandler increased their price objective on Metropolitan Bank from $67.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, December 13th.

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Metropolitan Bank Stock Down 0.3 %

Shares of MCB traded down $0.17 during midday trading on Tuesday, reaching $56.64. The stock had a trading volume of 90,810 shares, compared to its average volume of 86,428. Metropolitan Bank Holding Corp. has a 1-year low of $32.46 and a 1-year high of $69.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $635.78 million, a price-to-earnings ratio of 9.57 and a beta of 1.17. The company's fifty day simple moving average is $59.97 and its two-hundred day simple moving average is $58.87.

Metropolitan Bank (NYSE:MCB - Get Free Report) last posted its earnings results on Thursday, January 23rd. The company reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.49 by $0.39. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. Equities research analysts expect that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current year.

Insider Activity

In related news, EVP Scott Lublin sold 5,000 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.60, for a total transaction of $273,000.00. Following the transaction, the executive vice president now owns 49,988 shares of the company's stock, valued at $2,729,344.80. This trade represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark R. Defazio sold 15,088 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $54.78, for a total value of $826,520.64. Following the sale, the chief executive officer now directly owns 100,628 shares of the company's stock, valued at approximately $5,512,401.84. This represents a 13.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,088 shares of company stock valued at $1,161,791 in the last ninety days. 6.50% of the stock is currently owned by company insiders.

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.