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

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,195 shares of the company's stock, valued at approximately $431,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of Metropolitan Bank at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD purchased a new stake in Metropolitan Bank during the first quarter valued at $1,876,000. Vanguard Group Inc. lifted its stake 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 worth $24,216,000 after purchasing an additional 27,499 shares during the period. SG Americas Securities LLC bought a new position in shares of Metropolitan Bank in the 2nd quarter worth approximately $273,000. Bank of New York Mellon Corp boosted its holdings in shares of Metropolitan Bank by 52.3% in the second quarter. Bank of New York Mellon Corp now owns 83,472 shares of the company's stock worth $3,513,000 after buying an additional 28,665 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in Metropolitan Bank during the third quarter valued at approximately $1,893,000. 79.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Metropolitan Bank

In other news, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $65.17, for a total transaction of $81,462.50. Following the sale, the executive vice president now owns 30,193 shares in the company, valued at $1,967,677.81. This trade represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 owns 79,133 shares of the company's stock, valued at approximately $4,377,637.56. This 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 ninety days. 6.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Metropolitan Bank Stock Performance

Shares of NYSE:MCB traded down $2.35 during mid-day trading on Friday, reaching $64.94. 57,237 shares of the company traded hands, compared to its average volume of 94,114. Metropolitan Bank Holding Corp. has a 52 week low of $32.46 and a 52 week high of $69.56. The firm has a market cap of $727.33 million, a PE ratio of 12.21 and a beta of 1.12. The company's 50 day moving average price is $58.12 and its 200-day moving average price is $50.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00.

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

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.