PFG Investments LLC Makes New Investment in Metropolitan Bank Holding Corp. (NYSE:MCB)

PFG Investments LLC acquired a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,168 shares of the company's stock, valued at approximately $302,000.

A number of other hedge funds have also modified their holdings of MCB. Point72 DIFC Ltd acquired a new stake in Metropolitan Bank during the second quarter worth about $27,000. USA Financial Formulas acquired a new stake in Metropolitan Bank during the fourth quarter worth about $66,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in Metropolitan Bank by 212.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company's stock worth $71,000 after acquiring an additional 921 shares during the period. CWM LLC grew its holdings in Metropolitan Bank by 127.0% during the third quarter. CWM LLC now owns 1,780 shares of the company's stock worth $94,000 after acquiring an additional 996 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in Metropolitan Bank during the third quarter worth about $207,000. 79.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Scott Lublin sold 3,000 shares of Metropolitan Bank stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $58.77, for a total transaction of $176,310.00. Following the transaction, the executive vice president now owns 52,253 shares in the company, valued at approximately $3,070,908.81. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $65.17, for a total value of $81,462.50. Following the transaction, the executive vice president now owns 30,193 shares in the company, valued at approximately $1,967,677.81. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCB. Keefe, Bruyette & Woods raised their target price on Metropolitan Bank from $73.00 to $85.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Piper Sandler raised their target price on Metropolitan Bank from $67.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Finally, Hovde Group increased their price target on Metropolitan Bank from $75.00 to $83.50 and gave the stock an "outperform" rating in a research report on Monday, January 27th.

Metropolitan Bank Price Performance

MCB stock traded down $0.44 during mid-day trading on Friday, reaching $63.70. 59,148 shares of the company's stock were exchanged, compared to its average volume of 85,719. The company has a market cap of $713.46 million, a price-to-earnings ratio of 10.76 and a beta of 1.17. The stock's 50 day moving average is $62.02 and its 200 day moving average is $56.49. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. Metropolitan Bank Holding Corp. has a 12-month low of $32.46 and a 12-month high of $69.56.

Metropolitan Bank (NYSE:MCB - Get Free Report) last released its earnings results on Thursday, January 23rd. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.39. Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. On average, research analysts expect that Metropolitan Bank Holding Corp. will post 7.31 EPS 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.