Metropolitan Bank Holding Corp. (NYSE:MCB) Director Chaya Pamula Buys 450 Shares of Stock

by · The Markets Daily

Metropolitan Bank Holding Corp. (NYSE:MCB – Get Free Report) Director Chaya Pamula purchased 450 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were purchased at an average cost of $54.29 per share, for a total transaction of $24,430.50. Following the transaction, the director now directly owns 6,513 shares in the company, valued at approximately $353,590.77. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Metropolitan Bank Stock Performance

Shares of MCB opened at $52.78 on Friday. The stock has a market capitalization of $590.61 million, a price-to-earnings ratio of 9.92 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s 50-day simple moving average is $52.64 and its 200 day simple moving average is $46.51. Metropolitan Bank Holding Corp. has a 52-week low of $31.35 and a 52-week high of $64.10.

Hedge Funds Weigh In On Metropolitan Bank

A number of institutional investors have recently added to or reduced their stakes in MCB. Assenagon Asset Management S.A. increased its position in shares of Metropolitan Bank by 112.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 89,193 shares of the company’s stock valued at $4,690,000 after purchasing an additional 47,193 shares during the last quarter. Creative Planning purchased a new stake in Metropolitan Bank during the third quarter valued at $276,000. Unison Advisors LLC purchased a new stake in Metropolitan Bank in the third quarter worth about $710,000. CWM LLC boosted its stake in shares of Metropolitan Bank by 127.0% in the third quarter. CWM LLC now owns 1,780 shares of the company’s stock worth $94,000 after acquiring an additional 996 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Metropolitan Bank by 32.1% during the third quarter. SG Americas Securities LLC now owns 8,561 shares of the company’s stock valued at $450,000 after buying an additional 2,080 shares during the last quarter. 79.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MCB shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $67.50 price target (up previously from $55.00) on shares of Metropolitan Bank in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price target on Metropolitan Bank from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Finally, Hovde Group increased their price objective on Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a report on Monday, October 21st.

Read Our Latest Stock Report on Metropolitan Bank

About Metropolitan Bank

(Get Free Report)

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.

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