Algert Global LLC Makes New Investment in Metropolitan Bank Holding Corp. (NYSE:MCB)

Algert Global LLC bought a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 21,953 shares of the company's stock, valued at approximately $924,000. Algert Global LLC owned approximately 0.20% of Metropolitan Bank at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Metropolitan Bank by 4.6% during the first quarter. Vanguard Group Inc. now owns 628,996 shares of the company's stock worth $24,216,000 after acquiring an additional 27,499 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its position in Metropolitan Bank by 1.4% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 266,521 shares of the company's stock worth $10,261,000 after purchasing an additional 3,767 shares in the last quarter. American Century Companies Inc. lifted its stake in Metropolitan Bank by 21.1% in the 2nd quarter. American Century Companies Inc. now owns 186,440 shares of the company's stock valued at $7,847,000 after purchasing an additional 32,491 shares during the last quarter. Basswood Capital Management L.L.C. boosted its position in Metropolitan Bank by 226.5% in the fourth quarter. Basswood Capital Management L.L.C. now owns 159,279 shares of the company's stock valued at $8,821,000 after buying an additional 110,493 shares in the last quarter. Finally, Ranger Investment Management L.P. grew its stake in shares of Metropolitan Bank by 4.0% during the fourth quarter. Ranger Investment Management L.P. now owns 146,578 shares of the company's stock worth $8,117,000 after buying an additional 5,575 shares during the last quarter. Institutional investors own 79.83% of the company's stock.

Insiders Place Their Bets

In related news, EVP Scott Lublin sold 1,005 shares of the business's stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $55.11, for a total value of $55,385.55. Following the transaction, the executive vice president now owns 57,077 shares in the company, valued at $3,145,513.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Metropolitan Bank news, EVP Scott Lublin sold 1,005 shares of Metropolitan Bank stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $55.11, for a total value of $55,385.55. Following the completion of the sale, the executive vice president now directly owns 57,077 shares in the company, valued at approximately $3,145,513.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark R. Defazio sold 34,986 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $55.34, for a total value of $1,936,125.24. Following the transaction, the chief executive officer now owns 181,208 shares in the company, valued at $10,028,050.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.50% of the company's stock.

Metropolitan Bank Trading Down 0.5 %

NYSE MCB traded down $0.25 on Friday, reaching $53.63. The company had a trading volume of 76,645 shares, compared to its average volume of 94,573. The firm has a market cap of $600.28 million, a price-to-earnings ratio of 8.82 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. Metropolitan Bank Holding Corp. has a fifty-two week low of $30.20 and a fifty-two week high of $57.69. The business has a 50 day moving average of $49.73 and a two-hundred day moving average of $44.55.

Metropolitan Bank (NYSE:MCB - Get Free Report) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.07). The company had revenue of $121.90 million during the quarter, compared to analyst estimates of $68.02 million. Metropolitan Bank had a net margin of 15.22% and a return on equity of 10.47%. During the same period in the previous year, the company posted $1.37 EPS. Analysts forecast that Metropolitan Bank Holding Corp. will post 6.03 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on MCB. JPMorgan Chase & Co. increased their price target on Metropolitan Bank from $55.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $67.50 price target (up from $55.00) on shares of Metropolitan Bank in a research note on Tuesday, July 23rd. Finally, Hovde Group began coverage on Metropolitan Bank in a report on Thursday, September 19th. They set an "outperform" rating and a $65.50 price target on the stock.

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.