Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Bought by GSA Capital Partners LLP

GSA Capital Partners LLP increased its position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 146.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,172 shares of the company's stock after acquiring an additional 11,394 shares during the period. GSA Capital Partners LLP owned about 0.17% of Metropolitan Bank worth $1,008,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MCB. Point72 DIFC Ltd acquired a new stake in shares of Metropolitan Bank during the second quarter worth about $27,000. CWM LLC lifted its holdings in Metropolitan Bank by 70.1% during the 2nd quarter. CWM LLC now owns 784 shares of the company's stock worth $33,000 after buying an additional 323 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Metropolitan Bank in the 2nd quarter valued at approximately $74,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Metropolitan Bank in the first quarter worth $103,000. Finally, Point72 Asset Management L.P. grew its stake in shares of Metropolitan Bank by 104.5% in the second quarter. Point72 Asset Management L.P. now owns 4,500 shares of the company's stock worth $189,000 after acquiring an additional 2,300 shares in the last quarter. 79.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Nick Rosenberg sold 1,250 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $55.14, for a total transaction of $68,925.00. Following the completion of the transaction, the executive vice president now directly owns 31,443 shares of the company's stock, valued at $1,733,767.02. This represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert C. Patent sold 1,000 shares of Metropolitan Bank stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $55.32, for a total value of $55,320.00. Following the completion of the sale, the director now directly owns 79,133 shares in the company, valued at $4,377,637.56. This represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,973 shares of company stock valued at $291,024 over the last three months. 6.50% of the stock is currently owned by company insiders.

Metropolitan Bank Stock Down 0.6 %

Metropolitan Bank stock traded down $0.41 during midday trading on Friday, reaching $64.51. The company's stock had a trading volume of 58,029 shares, compared to its average volume of 94,108. The business has a 50-day simple moving average of $55.24 and a 200-day simple moving average of $48.77. Metropolitan Bank Holding Corp. has a fifty-two week low of $32.46 and a fifty-two week high of $66.59. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.36. The company has a market cap of $722.51 million, a P/E ratio of 12.13 and a beta of 1.12.

Metropolitan Bank (NYSE:MCB - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The company reported $1.86 earnings per share for the quarter, beating 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, research analysts expect that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MCB has been the subject of a number of recent research reports. Hovde Group lifted their target price on Metropolitan Bank from $65.50 to $68.00 and gave the company an "outperform" rating in a report on Monday, October 21st. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $67.50 price objective (up from $55.00) on shares of Metropolitan Bank in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Metropolitan Bank from $55.00 to $70.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 23rd.

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.