Harbor Advisors LLC Grows Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Harbor Advisors LLC lifted its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 30.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,311 shares of the company’s stock after purchasing an additional 8,528 shares during the quarter. Harbor Advisors LLC’s holdings in Metropolitan Bank were worth $1,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Point72 DIFC Ltd acquired a new stake in shares of Metropolitan Bank in the second quarter valued at about $27,000. CWM LLC boosted its position in Metropolitan Bank by 70.1% during the second quarter. CWM LLC now owns 784 shares of the company’s stock valued at $33,000 after purchasing an additional 323 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Metropolitan Bank by 212.7% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company’s stock worth $71,000 after purchasing an additional 921 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Metropolitan Bank in the second quarter worth approximately $74,000. Finally, Point72 Asset Management L.P. increased its stake in shares of Metropolitan Bank by 104.5% in the second quarter. Point72 Asset Management L.P. now owns 4,500 shares of the company’s stock worth $189,000 after purchasing an additional 2,300 shares in the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.

Insider Activity

In related news, Director Robert C. Patent sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $55.32, for a total value of $55,320.00. Following the completion of the sale, the director now owns 79,133 shares of the company’s stock, valued at approximately $4,377,637.56. The trade was a 1.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $55.14, for a total value of $68,925.00. Following the transaction, the executive vice president now owns 31,443 shares of the company’s stock, valued at $1,733,767.02. This represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,973 shares of company stock worth $291,024. 6.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Hovde Group lifted their price objective on shares of Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st.

Metropolitan Bank Trading Up 1.6 %

Shares of MCB stock opened at $65.98 on Tuesday. The stock has a 50-day simple moving average of $58.38 and a 200 day simple moving average of $50.63. The stock has a market capitalization of $738.98 million, a P/E ratio of 12.40 and a beta of 1.16. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.36. Metropolitan Bank Holding Corp. has a fifty-two week low of $32.46 and a fifty-two week high of $69.56.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Thursday, October 17th. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.31. The firm had revenue of $71.52 million for the quarter, compared to analyst estimates of $66.70 million. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%. On average, sell-side analysts expect that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current fiscal 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.