Proficio Capital Partners LLC Takes Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Proficio Capital Partners LLC bought a new position in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 24,061 shares of the company's stock, valued at approximately $1,405,000. Proficio Capital Partners LLC owned 0.21% of Metropolitan Bank as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MCB. Basswood Capital Management L.L.C. lifted its position in Metropolitan Bank by 176.8% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 607,805 shares of the company's stock worth $31,958,000 after buying an additional 388,200 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Metropolitan Bank during the third quarter worth $1,893,000. Franklin Resources Inc. raised its holdings in shares of 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 acquiring an additional 25,654 shares in the last quarter. Algert Global LLC boosted its position in Metropolitan Bank by 100.6% during the third quarter. Algert Global LLC now owns 44,030 shares of the company's stock valued at $2,315,000 after purchasing an additional 22,077 shares during the last quarter. Finally, Fourthstone LLC purchased a new position in Metropolitan Bank in the third quarter valued at about $1,107,000. Hedge funds and other institutional investors own 79.83% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their price target on Metropolitan Bank from $73.00 to $85.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Hovde Group lifted their target price on shares of Metropolitan Bank from $75.00 to $83.50 and gave the company an "outperform" rating in a research note on Monday, January 27th. Finally, Piper Sandler increased their price target on shares of Metropolitan Bank from $67.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th.

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Insider Buying and Selling

In other Metropolitan Bank news, CEO Mark R. Defazio sold 15,088 shares of Metropolitan Bank stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.78, for a total value of $826,520.64. Following the transaction, the chief executive officer now directly owns 100,628 shares of the company's stock, valued at $5,512,401.84. The trade was a 13.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $273,000.00. Following the transaction, the executive vice president now owns 49,988 shares of the company's stock, valued at approximately $2,729,344.80. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,088 shares of company stock worth $1,161,791 in the last quarter. 6.50% of the stock is currently owned by company insiders.

Metropolitan Bank Stock Up 2.9 %

Shares of NYSE MCB traded up $1.62 during mid-day trading on Monday, reaching $56.75. 60,802 shares of the company traded hands, compared to its average volume of 86,429. The company's fifty day moving average is $59.99 and its two-hundred day moving average is $58.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. Metropolitan Bank Holding Corp. has a fifty-two week low of $32.46 and a fifty-two week high of $69.56. The stock has a market cap of $637.04 million, a PE ratio of 9.59 and a beta of 1.17.

Metropolitan Bank (NYSE:MCB - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $1.88 EPS 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, analysts expect that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current year.

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.