Salzhauer Michael Acquires 842 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

Salzhauer Michael lifted its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,100 shares of the company’s stock after buying an additional 842 shares during the period. Metropolitan Bank comprises 1.2% of Salzhauer Michael’s holdings, making the stock its 18th largest position. Salzhauer Michael’s holdings in Metropolitan Bank were worth $1,604,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Banc Funds Co. LLC increased its holdings in Metropolitan Bank by 1.3% during the fourth quarter. Banc Funds Co. LLC now owns 235,664 shares of the company’s stock worth $13,051,000 after buying an additional 3,000 shares during the last quarter. Basswood Capital Management L.L.C. raised its holdings in shares of Metropolitan Bank by 226.5% in the 4th quarter. Basswood Capital Management L.L.C. now owns 159,279 shares of the company’s stock valued at $8,821,000 after purchasing an additional 110,493 shares during the period. Ranger Investment Management L.P. grew its holdings in Metropolitan Bank by 4.0% during the fourth quarter. Ranger Investment Management L.P. now owns 146,578 shares of the company’s stock worth $8,117,000 after purchasing an additional 5,575 shares during the period. Cox Capital Mgt LLC grew its holdings in Metropolitan Bank by 11.9% during the first quarter. Cox Capital Mgt LLC now owns 11,395 shares of the company’s stock worth $439,000 after purchasing an additional 1,214 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in Metropolitan Bank in the first quarter valued at approximately $103,000. Institutional investors own 79.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MCB. JPMorgan Chase & Co. lifted their target price on Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $67.50 price objective (up from $55.00) on shares of Metropolitan Bank in a research report on Tuesday, July 23rd.

Insider Buying and Selling

In other Metropolitan Bank news, EVP Scott Lublin sold 1,005 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $55.11, for a total transaction of $55,385.55. Following the completion of the sale, the executive vice president now directly owns 57,077 shares in the company, valued at $3,145,513.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Scott Lublin sold 1,005 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $55.11, for a total value of $55,385.55. Following the sale, the executive vice president now directly owns 57,077 shares of the company’s stock, valued at $3,145,513.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark R. Defazio sold 34,986 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $55.34, for a total value of $1,936,125.24. Following the transaction, the chief executive officer now directly owns 181,208 shares of the company’s stock, valued at approximately $10,028,050.72. The disclosure for this sale can be found here. 6.50% of the stock is currently owned by company insiders.

Metropolitan Bank Stock Performance

NYSE:MCB opened at $50.74 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. Metropolitan Bank Holding Corp. has a fifty-two week low of $30.20 and a fifty-two week high of $57.69. The company has a market cap of $567.78 million, a price-to-earnings ratio of 8.35 and a beta of 1.13. The stock has a fifty day moving average price of $49.48 and a 200-day moving average price of $43.17.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.07). The firm had revenue of $121.90 million for the quarter, compared to analyst estimates of $68.02 million. Metropolitan Bank had a return on equity of 10.47% and a net margin of 15.22%. During the same quarter in the previous year, the company earned $1.37 earnings per share. As a group, equities analysts anticipate that Metropolitan Bank Holding Corp. will post 6.03 EPS for the current fiscal year.

Metropolitan Bank 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.