Proficio Capital Partners LLC Takes Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Proficio Capital Partners LLC purchased a new stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,061 shares of the company’s stock, valued at approximately $1,405,000.

Other large investors also recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in shares of Metropolitan Bank by 44.8% during the third quarter. Franklin Resources Inc. now owns 82,922 shares of the company’s stock valued at $4,751,000 after purchasing an additional 25,654 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Metropolitan Bank during the third quarter worth about $431,000. Algert Global LLC grew its holdings in Metropolitan Bank by 100.6% during the third quarter. Algert Global LLC now owns 44,030 shares of the company’s stock worth $2,315,000 after acquiring an additional 22,077 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Metropolitan Bank during the third quarter worth about $1,893,000. Finally, Barclays PLC grew its holdings in Metropolitan Bank by 54.1% during the third quarter. Barclays PLC now owns 23,461 shares of the company’s stock worth $1,233,000 after acquiring an additional 8,233 shares during the period. 79.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MCB shares. Hovde Group lifted their target price on Metropolitan Bank from $75.00 to $83.50 and gave the stock an “outperform” rating in a report on Monday, January 27th. Piper Sandler lifted their target price on Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Keefe, Bruyette & Woods lifted their target price on Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

Metropolitan Bank Trading Down 0.5 %

Shares of MCB opened at $55.29 on Friday. The business’s 50-day moving average price is $60.01 and its 200 day moving average price is $58.69. The stock has a market capitalization of $620.60 million, a P/E ratio of 9.34 and a beta of 1.17. Metropolitan Bank Holding Corp. has a 1-year low of $32.46 and a 1-year high of $69.56. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36.

Metropolitan Bank (NYSE:MCB) last issued its quarterly 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 return on equity of 10.89% and a net margin of 13.55%. Analysts expect that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current year.

Insider Buying and Selling

In other Metropolitan Bank news, EVP Scott Lublin sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.60, for a total transaction of $273,000.00. Following the completion of the sale, the executive vice president now directly owns 49,988 shares in the company, valued at approximately $2,729,344.80. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dale C. Fredston sold 1,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,100,186.36. The trade was a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,088 shares of company stock valued at $1,161,791. 6.50% of the stock is owned by corporate insiders.

Metropolitan Bank Company 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.