Assenagon Asset Management S.A. Buys 47,193 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

Assenagon Asset Management S.A. increased its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 112.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,193 shares of the company's stock after purchasing an additional 47,193 shares during the period. Assenagon Asset Management S.A. owned approximately 0.80% of Metropolitan Bank worth $4,690,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD bought a new position in shares of Metropolitan Bank during the 1st quarter valued at about $1,876,000. Acadian Asset Management LLC lifted its stake in Metropolitan Bank by 133.4% in the 1st quarter. Acadian Asset Management LLC now owns 48,548 shares of the company's stock valued at $1,867,000 after acquiring an additional 27,752 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Metropolitan Bank by 21.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 82,931 shares of the company's stock valued at $3,193,000 after acquiring an additional 14,547 shares in the last quarter. Vanguard Group Inc. lifted its stake in Metropolitan Bank by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 628,996 shares of the company's stock valued at $24,216,000 after acquiring an additional 27,499 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Metropolitan Bank in the 2nd quarter valued at approximately $273,000. Institutional investors own 79.83% of the company's stock.

Metropolitan Bank Stock Up 2.6 %

Shares of Metropolitan Bank stock traded up $1.43 on Wednesday, reaching $55.48. 69,578 shares of the company were exchanged, compared to its average volume of 93,986. Metropolitan Bank Holding Corp. has a one year low of $31.81 and a one year high of $64.10. The company has a market capitalization of $620.99 million, a price-to-earnings ratio of 8.89 and a beta of 1.13. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average of $52.92 and a 200 day moving average of $46.94.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Hovde Group boosted their target price on Metropolitan Bank from $65.50 to $68.00 and gave the company an "outperform" rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $67.50 target price (up previously from $55.00) on shares of Metropolitan Bank in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Metropolitan Bank from $55.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday, July 23rd.

Insider Transactions at Metropolitan Bank

In related news, EVP Nick Rosenberg sold 1,250 shares of the business's stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $55.14, for a total transaction of $68,925.00. Following the transaction, the executive vice president now directly owns 31,443 shares of the company's stock, valued at approximately $1,733,767.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Nick Rosenberg sold 1,250 shares of the business's stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $55.14, for a total transaction of $68,925.00. Following the transaction, the executive vice president now directly owns 31,443 shares of the company's stock, valued at approximately $1,733,767.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Norman Scott sold 1,473 shares of the business's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $57.92, for a total value of $85,316.16. Following the transaction, the senior vice president now directly owns 11,732 shares in the company, valued at $679,517.44. 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 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.