Metropolitan Bank Holding Corp. $MCB Position Reduced by Royce & Associates LP

Royce & Associates LP decreased its position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 84.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 26,235 shares of the company’s stock after selling 142,654 shares during the quarter. Royce & Associates LP’s holdings in Metropolitan Bank were worth $2,003,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Metropolitan Bank during the third quarter worth approximately $48,000. Tower Research Capital LLC TRC raised its holdings in Metropolitan Bank by 41.5% during the second 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. Daytona Street Capital LLC bought a new stake in Metropolitan Bank during the fourth quarter worth approximately $199,000. Arizona State Retirement System bought a new stake in Metropolitan Bank during the third quarter worth approximately $201,000. Finally, Systematic Alpha Investments LLC bought a new stake in Metropolitan Bank during the third quarter worth approximately $202,000. Institutional investors own 79.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MCB. Keefe, Bruyette & Woods boosted their target price on Metropolitan Bank from $105.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Wall Street Zen raised Metropolitan Bank from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. UBS Group began coverage on Metropolitan Bank in a report on Thursday, April 16th. They issued a “neutral” rating and a $97.00 price target on the stock. Finally, Weiss Ratings raised Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $95.00.

Metropolitan Bank Stock Up 0.3%

NYSE:MCB opened at $90.22 on Friday. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.11 and a beta of 1.02. Metropolitan Bank Holding Corp. has a 1-year low of $63.06 and a 1-year high of $97.84. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.02. The business’s fifty day moving average price is $87.44 and its 200 day moving average price is $83.87.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.73. The firm had revenue of $88.49 million for the quarter, compared to analyst estimates of $87.33 million. Metropolitan Bank had a return on equity of 10.95% and a net margin of 15.89%.

Metropolitan Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Friday, May 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 1st. This is a positive change from Metropolitan Bank’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.1%. Metropolitan Bank’s payout ratio is presently 12.32%.

About Metropolitan Bank

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.