Metropolitan Bank Holding Corp (NYSE:MCB) Short Interest Up 18.6% in January
Metropolitan Bank Holding Corp (NYSE:MCB) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 29,300 shares, a growth of 18.6% from the January 15th total of 24,700 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 20,500 shares, the days-to-cover ratio is currently 1.4 days.
In other Metropolitan Bank news, CEO Mark R. Defazio sold 2,275 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $50.15, for a total transaction of $114,091.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael A. Guarino sold 654 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $48.11, for a total transaction of $31,463.94. The disclosure for this sale can be found here. Company insiders own 16.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of MCB. BlackRock Inc. raised its position in Metropolitan Bank by 16.2% during the 2nd quarter. BlackRock Inc. now owns 412,145 shares of the company’s stock worth $18,135,000 after buying an additional 57,397 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Metropolitan Bank during the 2nd quarter worth approximately $2,144,000. Renaissance Technologies LLC grew its stake in shares of Metropolitan Bank by 85.3% during the 4th quarter. Renaissance Technologies LLC now owns 105,200 shares of the company’s stock worth $5,074,000 after purchasing an additional 48,417 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Metropolitan Bank by 127.1% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 75,180 shares of the company’s stock worth $3,626,000 after purchasing an additional 42,070 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Metropolitan Bank by 7.0% during the 2nd quarter. Vanguard Group Inc. now owns 266,790 shares of the company’s stock worth $11,739,000 after purchasing an additional 17,407 shares during the period. 53.54% of the stock is owned by institutional investors.
MCB traded down $0.48 during trading on Friday, reaching $49.40. 11,805 shares of the company’s stock were exchanged, compared to its average volume of 16,165. Metropolitan Bank has a 1 year low of $32.60 and a 1 year high of $51.09. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $408.01 million, a P/E ratio of 13.92 and a beta of 1.40. The company’s fifty day simple moving average is $48.08 and its 200-day simple moving average is $43.42.
Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. Metropolitan Bank had a net margin of 21.46% and a return on equity of 10.68%. The company had revenue of $30.90 million during the quarter, compared to analyst estimates of $29.49 million. Equities analysts forecast that Metropolitan Bank will post 4.4 EPS 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.
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