Tudor Investment Corp ET AL Takes Position in Metropolitan Bank Holding Corp. $MCB

Tudor Investment Corp ET AL bought a new stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 29,201 shares of the company’s stock, valued at approximately $2,185,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Patriot Financial Partners GP II L.P. acquired a new position in Metropolitan Bank in the 3rd quarter valued at $57,229,000. JPMorgan Chase & Co. raised its stake in Metropolitan Bank by 53.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 178,363 shares of the company’s stock valued at $13,345,000 after purchasing an additional 62,327 shares during the last quarter. Millennium Management LLC raised its stake in Metropolitan Bank by 418.5% in the 3rd quarter. Millennium Management LLC now owns 47,455 shares of the company’s stock valued at $3,551,000 after purchasing an additional 38,302 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Metropolitan Bank by 854.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 41,747 shares of the company’s stock valued at $2,922,000 after purchasing an additional 37,374 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC acquired a new position in Metropolitan Bank in the 3rd quarter valued at $2,198,000. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Wall Street Analyst Weigh In

MCB has been the subject of several recent research reports. Wall Street Zen raised Metropolitan Bank from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Keefe, Bruyette & Woods increased their price objective on Metropolitan Bank from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Zacks Research raised Metropolitan Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. Finally, Weiss Ratings raised Metropolitan Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat, Metropolitan Bank presently has a consensus rating of “Buy” and a consensus target price of $92.00.

Metropolitan Bank Stock Down 0.3%

Shares of MCB opened at $89.79 on Friday. Metropolitan Bank Holding Corp. has a 52-week low of $47.84 and a 52-week high of $97.84. The company has a market capitalization of $1.12 billion, a PE ratio of 13.50 and a beta of 1.13. The stock has a fifty day simple moving average of $86.61 and a two-hundred day simple moving average of $80.02. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.01.

Metropolitan Bank (NYSE:MCB) last issued its earnings results on Tuesday, January 20th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.70. Metropolitan Bank had a return on equity of 9.69% and a net margin of 13.49%.The business had revenue of $88.41 million during the quarter, compared to the consensus estimate of $83.15 million. As a group, equities analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Metropolitan Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 6th. Shareholders of record on Tuesday, January 27th were paid a $0.20 dividend. This is a boost from Metropolitan Bank’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, January 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. Metropolitan Bank’s dividend payout ratio is 12.03%.

Insiders Place Their Bets

In other news, EVP Nick Rosenberg sold 1,250 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $90.21, for a total transaction of $112,762.50. Following the completion of the transaction, the executive vice president directly owned 25,839 shares in the company, valued at approximately $2,330,936.19. This represents a 4.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert C. Patent sold 10,000 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $94.99, for a total value of $949,900.00. Following the transaction, the director owned 88,685 shares of the company’s stock, valued at approximately $8,424,188.15. This represents a 10.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 15,695 shares of company stock valued at $1,472,847. Company insiders own 5.50% of the company’s stock.

Metropolitan Bank Company Profile

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.