LPL Financial LLC Makes New Investment in Metropolitan Bank Holding Corp. (NYSE:MCB)

LPL Financial LLC purchased a new position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,378 shares of the company's stock, valued at approximately $956,000. LPL Financial LLC owned 0.15% of Metropolitan Bank at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MCB. American Century Companies Inc. raised its position in shares of Metropolitan Bank by 14.2% during the 4th quarter. American Century Companies Inc. now owns 245,591 shares of the company's stock worth $14,343,000 after acquiring an additional 30,547 shares in the last quarter. Franklin Resources Inc. raised its holdings in Metropolitan Bank by 44.8% during the third quarter. Franklin Resources Inc. now owns 82,922 shares of the company's stock worth $4,751,000 after purchasing an additional 25,654 shares in the last quarter. Salzhauer Michael lifted its position in shares of Metropolitan Bank by 15.5% during the 4th quarter. Salzhauer Michael now owns 41,703 shares of the company's stock worth $2,435,000 after buying an additional 5,598 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Metropolitan Bank by 4.9% in the 4th quarter. Empowered Funds LLC now owns 40,142 shares of the company's stock valued at $2,344,000 after buying an additional 1,890 shares in the last quarter. Finally, Royce & Associates LP purchased a new position in shares of Metropolitan Bank in the 4th quarter valued at $2,174,000. Institutional investors and hedge funds own 79.83% of the company's stock.

Insider Transactions at Metropolitan Bank

In other news, EVP Scott Lublin sold 5,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.60, for a total transaction of $273,000.00. Following the completion of the sale, the executive vice president now owns 49,988 shares in the company, valued at $2,729,344.80. This represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dale C. Fredston sold 1,000 shares of Metropolitan Bank stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $62.27, for a total transaction of $62,270.00. Following the completion of the transaction, the director now owns 17,668 shares in the company, valued at approximately $1,100,186.36. This trade represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,088 shares of company stock worth $1,161,791. Company insiders own 6.50% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Hovde Group boosted their price target on shares of Metropolitan Bank from $75.00 to $83.50 and gave the company an "outperform" rating in a research report on Monday, January 27th.

Metropolitan Bank Stock Performance

NYSE MCB traded up $1.95 on Wednesday, reaching $59.47. The stock had a trading volume of 159,812 shares, compared to its average volume of 91,822. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $667.55 million, a P/E ratio of 10.05 and a beta of 0.95. The business's 50-day moving average price is $55.57 and its 200 day moving average price is $59.05. Metropolitan Bank Holding Corp. has a 12-month low of $37.10 and a 12-month high of $69.56.

Metropolitan Bank (NYSE:MCB - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The company reported $1.45 earnings per share for the quarter, missing analysts' consensus estimates of $1.61 by ($0.16). The business had revenue of $70.59 million for the quarter, compared to analyst estimates of $67.62 million. Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. During the same quarter in the prior year, the company earned $1.46 EPS. As a group, equities analysts expect that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current 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.