Algert Global LLC Sells 830 Shares of Metropolitan Bank Holding Corp. $MCB

Algert Global LLC lessened its position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 2.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,514 shares of the company’s stock after selling 830 shares during the period. Algert Global LLC’s holdings in Metropolitan Bank were worth $2,268,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Metropolitan Bank by 3.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,020 shares of the company’s stock valued at $352,000 after buying an additional 182 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Metropolitan Bank by 1.3% during the first quarter. SummerHaven Investment Management LLC now owns 17,998 shares of the company’s stock valued at $1,008,000 after buying an additional 224 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Metropolitan Bank by 289.5% during the first quarter. GAMMA Investing LLC now owns 596 shares of the company’s stock valued at $33,000 after buying an additional 443 shares during the last quarter. Barclays PLC boosted its holdings in Metropolitan Bank by 2.4% during the fourth quarter. Barclays PLC now owns 24,013 shares of the company’s stock worth $1,401,000 after purchasing an additional 552 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Metropolitan Bank by 9.8% during the fourth quarter. MetLife Investment Management LLC now owns 6,239 shares of the company’s stock worth $364,000 after purchasing an additional 556 shares during the last quarter. 79.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Metropolitan Bank news, EVP Scott Lublin sold 5,000 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $78.64, for a total value of $393,200.00. Following the sale, the executive vice president directly owned 46,179 shares in the company, valued at $3,631,516.56. This represents a 9.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert C. Patent sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $72.75, for a total transaction of $363,750.00. Following the completion of the sale, the director owned 103,685 shares in the company, valued at $7,543,083.75. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,077 shares of company stock worth $5,011,105. Company insiders own 6.09% of the company’s stock.

Metropolitan Bank Price Performance

Metropolitan Bank stock opened at $72.7190 on Friday. Metropolitan Bank Holding Corp. has a one year low of $47.08 and a one year high of $80.20. The business has a fifty day moving average price of $71.50 and a 200-day moving average price of $63.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $757.73 million, a P/E ratio of 11.79 and a beta of 1.13.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.14. Metropolitan Bank had a return on equity of 10.69% and a net margin of 13.68%.The firm had revenue of $76.27 million during the quarter, compared to analyst estimates of $72.50 million. During the same period last year, the company earned $1.50 earnings per share. As a group, equities research analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Metropolitan Bank announced that its board has initiated a stock buyback program on Thursday, July 17th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Metropolitan Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, July 28th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, July 28th. Metropolitan Bank’s dividend payout ratio (DPR) is presently 9.72%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Hovde Group boosted their price target on shares of Metropolitan Bank from $75.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, June 16th. Keefe, Bruyette & Woods boosted their price target on shares of Metropolitan Bank from $81.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Metropolitan Bank has an average rating of “Buy” and a consensus target price of $82.67.

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.