Virtu Financial LLC Purchases New Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Virtu Financial LLC acquired a new position in Metropolitan Bank Holding Corp. (NYSE:MCB) during the 4th quarter, HoldingsChannel reports. The fund acquired 3,780 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP lifted its stake in shares of Metropolitan Bank by 128.9% in the 4th quarter. Quantbot Technologies LP now owns 6,422 shares of the company’s stock valued at $375,000 after purchasing an additional 3,617 shares during the period. Royce & Associates LP purchased a new stake in shares of Metropolitan Bank during the 4th quarter worth about $2,174,000. Picton Mahoney Asset Management grew its position in shares of Metropolitan Bank by 46.9% during the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock valued at $30,000 after acquiring an additional 161 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Metropolitan Bank by 68.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,819 shares of the company’s stock worth $807,000 after purchasing an additional 5,624 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Metropolitan Bank in the fourth quarter valued at approximately $1,405,000. Institutional investors and hedge funds own 79.83% of the company’s stock.

Metropolitan Bank Stock Down 2.4 %

NYSE MCB opened at $55.68 on Friday. The company has a market cap of $625.02 million, a P/E ratio of 9.41 and a beta of 1.17. Metropolitan Bank Holding Corp. has a one year low of $32.46 and a one year high of $69.56. The business has a fifty day moving average price of $59.66 and a 200 day moving average price of $58.93. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00.

Metropolitan Bank (NYSE:MCB) last released its earnings results on Thursday, January 23rd. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.39. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. Research analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their target price on Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler increased their price objective on shares of Metropolitan Bank from $67.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Hovde Group boosted their target price on shares of Metropolitan Bank from $75.00 to $83.50 and gave the stock an “outperform” rating in a research note on Monday, January 27th.

Insider Buying and Selling at Metropolitan Bank

In other Metropolitan Bank news, Director Dale C. Fredston sold 1,000 shares of Metropolitan Bank stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $62.27, for a total value of $62,270.00. Following the sale, the director now owns 17,668 shares in the company, valued at $1,100,186.36. The trade was a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark R. Defazio sold 15,088 shares of the stock in a transaction 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 owns 100,628 shares of the company’s stock, valued at approximately $5,512,401.84. This represents a 13.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,088 shares of company stock worth $1,161,791 in the last three months. 6.50% of the stock is owned by corporate insiders.

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.