Proficio Capital Partners LLC Purchases Shares of 24,061 Metropolitan Bank Holding Corp. (NYSE:MCB)

Proficio Capital Partners LLC purchased a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 24,061 shares of the company's stock, valued at approximately $1,405,000. Proficio Capital Partners LLC owned about 0.21% of Metropolitan Bank at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. USA Financial Formulas bought a new stake in Metropolitan Bank during the fourth quarter valued at $66,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Metropolitan Bank by 212.7% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company's stock valued at $71,000 after buying an additional 921 shares during the period. R Squared Ltd bought a new stake in shares of Metropolitan Bank during the 4th quarter valued at about $91,000. The Manufacturers Life Insurance Company acquired a new stake in Metropolitan Bank during the third quarter worth about $207,000. Finally, Centiva Capital LP acquired a new stake in Metropolitan Bank during the third quarter worth about $248,000. 79.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Scott Lublin sold 3,000 shares of the business's stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $58.77, for a total value of $176,310.00. Following the sale, the executive vice president now owns 52,253 shares of the company's stock, valued at approximately $3,070,908.81. The trade was a 5.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dale C. Fredston sold 1,000 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $62.27, for a total value of $62,270.00. Following the completion of the sale, the director now owns 17,668 shares of the company's stock, valued at approximately $1,100,186.36. This trade represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. 6.50% of the stock is owned by corporate insiders.

Remove Ads

Metropolitan Bank Stock Performance

Shares of NYSE MCB traded down $3.31 during midday trading on Monday, reaching $52.68. 77,704 shares of the company traded hands, compared to its average volume of 85,515. The company has a market cap of $591.33 million, a price-to-earnings ratio of 8.90 and a beta of 1.17. The stock has a 50-day moving average price of $60.75 and a 200 day moving average price of $58.62. Metropolitan Bank Holding Corp. has a 52 week low of $32.46 and a 52 week high of $69.56. 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 (NYSE:MCB - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.49 by $0.39. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. Sell-side analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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