Picton Mahoney Asset Management Takes Position in Metropolitan Bank Holding Corp. $MCB

Picton Mahoney Asset Management bought a new position in Metropolitan Bank Holding Corp. (NYSE:MCB) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 11,514 shares of the company’s stock, valued at approximately $862,000. Picton Mahoney Asset Management owned about 0.11% of Metropolitan Bank as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. State of Alaska Department of Revenue purchased a new stake in Metropolitan Bank during the third quarter valued at about $31,000. Tower Research Capital LLC TRC boosted its holdings in shares of Metropolitan Bank by 41.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,670 shares of the company’s stock worth $117,000 after purchasing an additional 490 shares in the last quarter. Arizona State Retirement System purchased a new position in shares of Metropolitan Bank in the 3rd quarter worth about $201,000. EP Wealth Advisors LLC bought a new position in shares of Metropolitan Bank during the 2nd quarter valued at about $208,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Metropolitan Bank during the 3rd quarter valued at about $307,000. Institutional investors own 79.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Metropolitan Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of Metropolitan Bank from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Metropolitan Bank in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods raised their price objective on Metropolitan Bank from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $92.00.

Insider Buying and Selling at Metropolitan Bank

In other news, Director Robert C. Patent sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $94.99, for a total value of $949,900.00. Following the transaction, the director owned 88,685 shares of the company’s stock, valued at $8,424,188.15. This trade represents a 10.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nick Rosenberg sold 1,250 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $90.21, for a total transaction of $112,762.50. Following the completion of the sale, the executive vice president directly owned 25,839 shares of the company’s stock, valued at approximately $2,330,936.19. This trade represents a 4.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,320 shares of company stock worth $1,523,103 in the last quarter. Corporate insiders own 6.09% of the company’s stock.

Metropolitan Bank Trading Down 2.7%

NYSE:MCB opened at $79.47 on Friday. The firm has a market capitalization of $804.24 million, a P/E ratio of 11.95 and a beta of 1.13. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.96 and a quick ratio of 0.96. Metropolitan Bank Holding Corp. has a one year low of $47.08 and a one year high of $97.84. The company’s 50-day simple moving average is $86.91 and its 200 day simple moving average is $79.25.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Tuesday, January 20th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.70. Metropolitan Bank had a return on equity of 9.69% and a net margin of 13.49%.The firm had revenue of $88.41 million during the quarter, compared to analyst estimates of $83.15 million. As a group, analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Metropolitan Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 6th. Shareholders of record on Tuesday, January 27th were given a $0.20 dividend. The ex-dividend date was Tuesday, January 27th. This is a boost from Metropolitan Bank’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 1.0%. Metropolitan Bank’s payout ratio is 12.03%.

Metropolitan Bank Profile

Metropolitan Bank (NYSE:MCB), through its principal subsidiary Metropolitan Commercial Bank, operates as a New York–based regional financial institution providing a range of commercial and consumer banking services. The company offers deposit products including checking, savings and money market accounts, as well as business and personal certificates of deposit. On the lending side, Metropolitan Bank extends commercial real estate financing, equipment loans, working capital lines of credit and consumer installment loans tailored to the needs of small- and medium-sized enterprises and individual customers.

In addition to traditional deposit and lending services, Metropolitan Bank provides specialized treasury and cash-management solutions, foreign exchange services and letters of credit for both domestic businesses and multinational clients.