Prudential Financial Inc. Takes Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Prudential Financial Inc. purchased a new stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 16,433 shares of the company's stock, valued at approximately $960,000. Prudential Financial Inc. owned approximately 0.15% of Metropolitan Bank as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCB. Picton Mahoney Asset Management boosted its holdings in shares of Metropolitan Bank by 46.9% during the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company's stock valued at $30,000 after buying an additional 161 shares in the last quarter. USA Financial Formulas purchased a new position in Metropolitan Bank during the 4th quarter valued at about $66,000. R Squared Ltd bought a new stake in Metropolitan Bank during the fourth quarter worth about $91,000. KLP Kapitalforvaltning AS purchased a new stake in Metropolitan Bank in the fourth quarter worth about $128,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Metropolitan Bank during the third quarter valued at approximately $207,000. 79.83% of the stock is owned by hedge funds and other institutional investors.

Metropolitan Bank Stock Up 0.3 %

MCB stock traded up $0.14 during midday trading on Friday, hitting $49.64. The company's stock had a trading volume of 97,137 shares, compared to its average volume of 91,575. The firm's 50-day moving average is $56.90 and its 200-day moving average is $58.95. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. Metropolitan Bank Holding Corp. has a 12 month low of $32.46 and a 12 month high of $69.56. The company has a market cap of $557.16 million, a PE ratio of 8.38 and a beta of 0.95.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on MCB shares. Piper Sandler lifted their price objective on Metropolitan Bank from $67.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Hovde Group lifted 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.

Insider Activity

In other Metropolitan Bank news, EVP Scott Lublin sold 5,000 shares of the stock in a transaction dated 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 represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dale C. Fredston sold 1,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.27, for a total value of $62,270.00. Following the completion of the transaction, the director now directly owns 17,668 shares in the company, valued at $1,100,186.36. The trade was a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,088 shares of company stock valued at $1,161,791 in the last 90 days. 6.50% of the stock is currently owned by insiders.

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.