Franklin Resources Inc. Buys 25,654 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

Franklin Resources Inc. raised its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 44.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 82,922 shares of the company's stock after acquiring an additional 25,654 shares during the period. Franklin Resources Inc. owned approximately 0.74% of Metropolitan Bank worth $4,751,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Barclays PLC grew its holdings in Metropolitan Bank by 54.1% during the third quarter. Barclays PLC now owns 23,461 shares of the company's stock valued at $1,233,000 after purchasing an additional 8,233 shares during the period. XTX Topco Ltd acquired a new position in shares of Metropolitan Bank in the 3rd quarter valued at $357,000. Point72 Asset Management L.P. increased its position in shares of Metropolitan Bank by 62.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 7,300 shares of the company's stock valued at $384,000 after buying an additional 2,800 shares in the last quarter. Harbor Advisors LLC raised its stake in Metropolitan Bank by 30.7% during the 3rd quarter. Harbor Advisors LLC now owns 36,311 shares of the company's stock worth $1,909,000 after buying an additional 8,528 shares during the period. Finally, Centiva Capital LP bought a new position in Metropolitan Bank during the third quarter worth about $248,000. 79.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Metropolitan Bank

In related news, SVP Norman Scott sold 1,473 shares of the firm's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.92, for a total value of $85,316.16. Following the completion of the sale, the senior vice president now directly owns 11,732 shares in the company, valued at approximately $679,517.44. This trade represents a 11.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Scott Lublin sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $58.77, for a total value of $176,310.00. Following the transaction, the executive vice president now directly owns 52,253 shares in the company, valued at approximately $3,070,908.81. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,973 shares of company stock worth $467,334 over the last ninety days. 6.50% of the stock is currently owned by corporate insiders.

Metropolitan Bank Stock Up 0.2 %

Metropolitan Bank stock traded up $0.12 during midday trading on Tuesday, reaching $59.45. The stock had a trading volume of 35,302 shares, compared to its average volume of 92,700. The stock has a market capitalization of $665.72 million, a P/E ratio of 11.17 and a beta of 1.16. The firm's fifty day simple moving average is $61.53 and its 200-day simple moving average is $52.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. Metropolitan Bank Holding Corp. has a 1-year low of $32.46 and a 1-year high of $69.56.

Metropolitan Bank (NYSE:MCB - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $71.52 million for the quarter, compared to the consensus estimate of $66.70 million. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. As a group, analysts expect that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target on Metropolitan Bank from $73.00 to $85.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Piper Sandler increased their target price on Metropolitan Bank from $67.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Finally, Hovde Group lifted their price target on shares of Metropolitan Bank from $65.50 to $68.00 and gave the company an "outperform" rating in a research note on Monday, October 21st.

Metropolitan Bank Company 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.