Vanguard Group Inc. Has $46.48 Million Stake in Metropolitan Bank Holding Corp. $MCB

Vanguard Group Inc. decreased its stake in Metropolitan Bank Holding Corp. (NYSE:MCB) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 608,750 shares of the company’s stock after selling 11,336 shares during the quarter. Vanguard Group Inc. owned approximately 0.06% of Metropolitan Bank worth $46,484,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. State of Alaska Department of Revenue boosted its stake in Metropolitan Bank by 644.2% in the 4th quarter. State of Alaska Department of Revenue now owns 3,163 shares of the company’s stock valued at $241,000 after buying an additional 2,738 shares in the last quarter. Sippican Capital Advisors boosted its stake in Metropolitan Bank by 3.7% in the fourth quarter. Sippican Capital Advisors now owns 28,097 shares of the company’s stock worth $2,145,000 after purchasing an additional 1,014 shares in the last quarter. Daytona Street Capital LLC acquired a new position in Metropolitan Bank in the fourth quarter worth $199,000. Allspring Global Investments Holdings LLC boosted its stake in Metropolitan Bank by 9.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,502 shares of the company’s stock worth $344,000 after purchasing an additional 393 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Metropolitan Bank by 26.0% in the fourth quarter. SG Americas Securities LLC now owns 8,055 shares of the company’s stock worth $615,000 after purchasing an additional 1,660 shares in the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on MCB shares. Keefe, Bruyette & Woods boosted their price objective on Metropolitan Bank from $105.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Zacks Research raised Metropolitan Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. Wall Street Zen raised Metropolitan Bank from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. UBS Group started coverage on Metropolitan Bank in a research note on Thursday, April 16th. They issued a “neutral” rating and a $97.00 price objective on the stock. Finally, Weiss Ratings raised Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $95.00.

Metropolitan Bank Trading Down 1.7%

Shares of MCB opened at $86.95 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.99 and a debt-to-equity ratio of 0.02. Metropolitan Bank Holding Corp. has a 12-month low of $62.58 and a 12-month high of $97.84. The firm has a market capitalization of $1.08 billion, a PE ratio of 10.71 and a beta of 1.02. The stock’s fifty day simple moving average is $85.27 and its 200-day simple moving average is $82.23.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.73. The business had revenue of $88.49 million for the quarter, compared to analyst estimates of $87.33 million. Metropolitan Bank had a return on equity of 10.95% and a net margin of 15.89%.

Metropolitan Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Friday, May 1st were issued a $0.25 dividend. This is a boost from Metropolitan Bank’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, May 1st. Metropolitan Bank’s dividend payout ratio is currently 12.32%.

About Metropolitan Bank

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.