Sei Investments Co. Makes New Investment in Metropolitan Bank Holding Corp. $MCB

by · The Markets Daily

Sei Investments Co. acquired a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB – Free Report) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 10,050 shares of the company’s stock, valued at approximately $837,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Lido Advisors LLC purchased a new position in shares of Metropolitan Bank during the 4th quarter valued at approximately $2,632,000. Dimensional Fund Advisors LP increased its holdings in Metropolitan Bank by 7.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 459,791 shares of the company’s stock worth $38,295,000 after acquiring an additional 32,662 shares in the last quarter. UBS Group AG increased its holdings in Metropolitan Bank by 363.5% in the 4th quarter. UBS Group AG now owns 64,832 shares of the company’s stock worth $4,951,000 after acquiring an additional 50,844 shares in the last quarter. Royal Bank of Canada increased its holdings in Metropolitan Bank by 70.4% in the 4th quarter. Royal Bank of Canada now owns 346 shares of the company’s stock worth $27,000 after acquiring an additional 143 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Metropolitan Bank by 16.3% during the first quarter. First Trust Advisors LP now owns 5,261 shares of the company’s stock worth $438,000 after acquiring an additional 738 shares during the period. 79.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Metropolitan Bank

In other Metropolitan Bank news, Director Harvey Gutman sold 3,000 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $89.58, for a total value of $268,740.00. Following the completion of the sale, the director owned 18,243 shares in the company, valued at approximately $1,634,207.94. This represents a 14.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nick Rosenberg sold 1,807 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $100.42, for a total transaction of $181,458.94. Following the completion of the sale, the executive vice president owned 22,202 shares of the company’s stock, valued at approximately $2,229,524.84. The trade was a 7.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 29,897 shares of company stock valued at $2,797,252. Corporate insiders own 5.50% of the company’s stock.

Metropolitan Bank Stock Down 0.4%

NYSE MCB opened at $94.20 on Friday. The business has a fifty day moving average price of $95.39 and a 200 day moving average price of $90.54. Metropolitan Bank Holding Corp. has a one year low of $64.66 and a one year high of $102.04. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $1.17 billion, a P/E ratio of 11.92 and a beta of 0.99.

Metropolitan Bank (NYSE:MCB – Get Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.76). Metropolitan Bank had a return on equity of 10.22% and a net margin of 14.31%.The business had revenue of $93.01 million for the quarter, compared to analyst estimates of $93.39 million.

Metropolitan Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st were paid a $0.35 dividend. This is an increase from Metropolitan Bank’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, July 31st. Metropolitan Bank’s payout ratio is 17.72%.

Wall Street Analyst Weigh In

Several research firms have issued reports on MCB. Keefe, Bruyette & Woods decreased their price objective on shares of Metropolitan Bank from $120.00 to $110.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. UBS Group reduced their price target on shares of Metropolitan Bank from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, July 28th. Weiss Ratings restated a “buy (b)” rating on shares of Metropolitan Bank in a research report on Friday, August 7th. Finally, Wall Street Zen lowered shares of Metropolitan Bank from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $105.00.

Get Our Latest Stock Analysis on Metropolitan Bank

About Metropolitan Bank

(Free Report)

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.

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