Royce & Associates LP Acquires Shares of 37,225 Metropolitan Bank Holding Corp. (NYSE:MCB)

Royce & Associates LP bought a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 37,225 shares of the company's stock, valued at approximately $2,174,000. Royce & Associates LP owned approximately 0.33% of Metropolitan Bank at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Basswood Capital Management L.L.C. lifted its holdings in shares of Metropolitan Bank by 176.8% in the third quarter. Basswood Capital Management L.L.C. now owns 607,805 shares of the company's stock worth $31,958,000 after acquiring an additional 388,200 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Metropolitan Bank during the third quarter worth $1,893,000. Franklin Resources Inc. lifted its stake in shares of Metropolitan Bank by 44.8% in the 3rd quarter. Franklin Resources Inc. now owns 82,922 shares of the company's stock valued at $4,751,000 after acquiring an additional 25,654 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Metropolitan Bank during the 4th quarter worth $1,405,000. Finally, Algert Global LLC raised its position in Metropolitan Bank by 100.6% in 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. Institutional investors own 79.83% of the company's stock.

Insider Transactions at Metropolitan Bank

In related news, Director Dale C. Fredston sold 1,000 shares of the stock in a transaction on 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 sale, the director now directly owns 17,668 shares of the company's stock, valued at approximately $1,100,186.36. This represents a 5.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Lublin sold 5,000 shares of Metropolitan Bank stock in a transaction on Monday, March 17th. The stock was sold at an average price of $54.60, for a total transaction of $273,000.00. Following the transaction, the executive vice president now directly owns 49,988 shares in the company, valued at $2,729,344.80. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,088 shares of company stock valued at $1,161,791 over the last ninety days. 6.50% of the stock is currently owned by insiders.

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Metropolitan Bank Trading Down 0.3 %

Shares of MCB stock traded down $0.17 during trading hours on Tuesday, hitting $56.64. 90,810 shares of the company were exchanged, compared to its average volume of 86,428. 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 company has a 50 day simple moving average of $59.97 and a two-hundred day simple moving average of $58.87. The firm has a market cap of $635.78 million, a P/E ratio of 9.57 and a beta of 1.17.

Metropolitan Bank (NYSE:MCB - Get Free Report) last announced its quarterly earnings data 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 net margin of 13.55% and a return on equity of 10.89%. Equities analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Analysts Set New Price Targets

MCB has been the topic of several recent research reports. Hovde Group lifted their target price on shares of Metropolitan Bank from $75.00 to $83.50 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Piper Sandler lifted 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, Keefe, Bruyette & Woods raised their price objective on Metropolitan Bank from $73.00 to $85.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th.

About Metropolitan Bank

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.