Royce & Associates LP Invests $2.17 Million in Metropolitan Bank Holding Corp. (NYSE:MCB)

Royce & Associates LP acquired a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 37,225 shares of the company’s stock, valued at approximately $2,174,000. Royce & Associates LP owned 0.33% of Metropolitan Bank as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Basswood Capital Management L.L.C. lifted its stake in 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 valued at $31,958,000 after buying an additional 388,200 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Metropolitan Bank by 44.8% during the third quarter. Franklin Resources Inc. now owns 82,922 shares of the company’s stock worth $4,751,000 after acquiring an additional 25,654 shares during the period. Algert Global LLC lifted its position in Metropolitan Bank by 100.6% in the 3rd quarter. Algert Global LLC now owns 44,030 shares of the company’s stock valued at $2,315,000 after acquiring an additional 22,077 shares in the last quarter. Salzhauer Michael boosted its stake in Metropolitan Bank by 15.5% in the 4th quarter. Salzhauer Michael now owns 41,703 shares of the company’s stock worth $2,435,000 after purchasing an additional 5,598 shares during the period. Finally, Empowered Funds LLC increased its holdings in Metropolitan Bank by 4.9% during the 4th quarter. Empowered Funds LLC now owns 40,142 shares of the company’s stock worth $2,344,000 after purchasing an additional 1,890 shares in the last quarter. 79.83% of the stock is owned by institutional investors.

Metropolitan Bank Stock Performance

MCB opened at $55.29 on Friday. The business’s 50-day simple moving average is $60.01 and its 200 day simple moving average is $58.69. 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 quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $620.60 million, a PE ratio of 9.34 and a beta of 1.17.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $1.88 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts expect that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Metropolitan Bank

In related news, Director Dale C. Fredston sold 1,000 shares of the firm’s stock in a transaction dated 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 directly owns 17,668 shares in the company, valued at approximately $1,100,186.36. This trade represents a 5.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark R. Defazio sold 15,088 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.78, for a total value of $826,520.64. Following the transaction, the chief executive officer now directly owns 100,628 shares in the company, valued at approximately $5,512,401.84. This trade represents a 13.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,088 shares of company stock worth $1,161,791 over the last quarter. 6.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MCB has been the subject of several recent research reports. 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 report on Wednesday, December 4th. Hovde Group upped 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. Finally, Piper Sandler boosted their price objective on shares of Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th.

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.