Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC decreased its holdings in Metropolitan Bank Holding Corp. (NYSE:MCBFree Report) by 13.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 10,506 shares of the company’s stock after selling 1,655 shares during the period. New York Life Investment Management LLC owned approximately 0.09% of Metropolitan Bank worth $381,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Prelude Capital Management LLC raised its holdings in Metropolitan Bank by 5.0% in the first quarter. Prelude Capital Management LLC now owns 3,062 shares of the company’s stock valued at $312,000 after buying an additional 145 shares during the period. Legal & General Group Plc grew its position in Metropolitan Bank by 8.0% in the fourth quarter. Legal & General Group Plc now owns 3,750 shares of the company’s stock valued at $220,000 after acquiring an additional 277 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Metropolitan Bank by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 51,097 shares of the company’s stock valued at $2,998,000 after acquiring an additional 302 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Metropolitan Bank by 5.3% in the third quarter. Envestnet Asset Management Inc. now owns 7,005 shares of the company’s stock valued at $451,000 after acquiring an additional 354 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Metropolitan Bank by 5,500.0% in the first quarter. PNC Financial Services Group Inc. now owns 392 shares of the company’s stock valued at $40,000 after acquiring an additional 385 shares in the last quarter. Hedge funds and other institutional investors own 89.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler assumed coverage on shares of Metropolitan Bank in a research report on Friday, December 15th. They issued an “overweight” rating and a $60.00 price objective for the company. Keefe, Bruyette & Woods lowered their price objective on shares of Metropolitan Bank from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, January 22nd. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $56.50.

Read Our Latest Stock Analysis on MCB

Metropolitan Bank Stock Up 1.3 %

MCB stock opened at $42.50 on Monday. Metropolitan Bank Holding Corp. has a twelve month low of $13.98 and a twelve month high of $61.02. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $470.05 million, a P/E ratio of 6.19 and a beta of 1.25. The firm has a 50 day simple moving average of $49.45 and a 200-day simple moving average of $41.95.

Metropolitan Bank (NYSE:MCBGet Free Report) last released its quarterly earnings results on Thursday, January 18th. The company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.23). Metropolitan Bank had a return on equity of 12.44% and a net margin of 19.16%. The company had revenue of $63.56 million for the quarter, compared to analyst estimates of $60.96 million. On average, equities research analysts predict that Metropolitan Bank Holding Corp. will post 6.49 earnings per share for the current fiscal year.

Metropolitan Bank Company Profile

(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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Institutional Ownership by Quarter for Metropolitan Bank (NYSE:MCB)

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