Mesirow Financial Investment Management Inc. Makes New Investment in Metropolitan Bank Holding Corp. (NYSE:MCB)

Mesirow Financial Investment Management Inc. bought a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,726 shares of the company’s stock, valued at approximately $248,000.

Other hedge funds have also recently modified their holdings of the company. Millennium Management LLC acquired a new stake in shares of Metropolitan Bank in the 2nd quarter valued at approximately $4,991,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Metropolitan Bank in the first quarter valued at about $1,876,000. Assenagon Asset Management S.A. boosted its holdings in Metropolitan Bank by 112.4% during the third quarter. Assenagon Asset Management S.A. now owns 89,193 shares of the company’s stock worth $4,690,000 after buying an additional 47,193 shares in the last quarter. Empowered Funds LLC purchased a new position in Metropolitan Bank in the first quarter valued at about $1,303,000. Finally, Marshall Wace LLP lifted its position in shares of Metropolitan Bank by 193.1% during the 2nd quarter. Marshall Wace LLP now owns 50,350 shares of the company’s stock valued at $2,119,000 after acquiring an additional 33,171 shares during the period. 79.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Robert C. Patent sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $55.32, for a total transaction of $55,320.00. Following the transaction, the director now owns 79,133 shares of the company’s stock, valued at approximately $4,377,637.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Metropolitan Bank news, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $55.14, for a total value of $68,925.00. Following the completion of the sale, the executive vice president now owns 31,443 shares in the company, valued at $1,733,767.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert C. Patent sold 1,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $55.32, for a total transaction of $55,320.00. Following the transaction, the director now owns 79,133 shares in the company, valued at approximately $4,377,637.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,723 shares of company stock valued at $209,561 in the last ninety days. Insiders own 6.50% of the company’s stock.

Metropolitan Bank Price Performance

MCB stock opened at $64.68 on Wednesday. The stock’s 50 day moving average price is $54.11 and its 200 day moving average price is $48.21. The firm has a market cap of $723.77 million, a P/E ratio of 12.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. Metropolitan Bank Holding Corp. has a 1 year low of $32.46 and a 1 year high of $65.55.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Thursday, October 17th. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.31. The business had revenue of $71.52 million for the quarter, compared to the consensus estimate of $66.70 million. Metropolitan Bank had a return on equity of 10.17% and a net margin of 12.47%. On average, sell-side analysts expect that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $67.50 target price (up previously from $55.00) on shares of Metropolitan Bank in a report on Tuesday, July 23rd. Finally, Hovde Group lifted their price target on Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st.

About Metropolitan Bank

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.