Franklin Resources Inc. Boosts Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Franklin Resources Inc. increased its position in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 20.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,033 shares of the company's stock after purchasing an additional 17,111 shares during the period. Franklin Resources Inc. owned 0.89% of Metropolitan Bank worth $5,842,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Metropolitan Bank by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 645,360 shares of the company's stock worth $37,689,000 after buying an additional 10,545 shares during the period. American Century Companies Inc. grew its holdings in Metropolitan Bank by 14.2% in the fourth quarter. American Century Companies Inc. now owns 245,591 shares of the company's stock worth $14,343,000 after purchasing an additional 30,547 shares during the period. Wellington Management Group LLP bought a new position in shares of Metropolitan Bank during the fourth quarter valued at approximately $12,109,000. JPMorgan Chase & Co. boosted its position in shares of Metropolitan Bank by 1,726.5% in the 4th quarter. JPMorgan Chase & Co. now owns 149,280 shares of the company's stock worth $8,718,000 after purchasing an additional 141,107 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in Metropolitan Bank by 1.0% during the 4th quarter. Alliancebernstein L.P. now owns 53,617 shares of the company's stock valued at $3,131,000 after buying an additional 508 shares in the last quarter. Institutional investors own 79.83% of the company's stock.

Analyst Ratings Changes

Separately, Hovde Group increased their target price on Metropolitan Bank from $75.00 to $83.50 and gave the stock an "outperform" rating in a research note on Monday, January 27th.

Metropolitan Bank Stock Performance

MCB stock traded up $1.84 during midday trading on Tuesday, reaching $52.60. 7,035 shares of the company's stock traded hands, compared to its average volume of 91,406. Metropolitan Bank Holding Corp. has a 52-week low of $32.46 and a 52-week high of $69.56. The stock's 50-day moving average is $56.62 and its 200 day moving average is $59.01. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The stock has a market cap of $590.38 million, a P/E ratio of 8.88 and a beta of 0.95.

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

Insider Transactions at Metropolitan Bank

In other Metropolitan Bank news, Director Dale C. Fredston sold 1,000 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.27, for a total value of $62,270.00. Following the completion of the transaction, the director now directly owns 17,668 shares in the company, valued at approximately $1,100,186.36. The trade was a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark R. Defazio sold 15,088 shares of the firm'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 transaction of $826,520.64. Following the completion of the sale, the chief executive officer now owns 100,628 shares of the company's stock, valued at approximately $5,512,401.84. This trade represents a 13.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,088 shares of company stock worth $1,161,791. 6.50% of the stock is currently 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.