Ranger Investment Management L.P. Takes Position in Metropolitan Bank Holding Corp. $MCB

Ranger Investment Management L.P. bought a new position in Metropolitan Bank Holding Corp. (NYSE:MCB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 109,857 shares of the company’s stock, valued at approximately $10,849,000. Ranger Investment Management L.P. owned approximately 0.89% of Metropolitan Bank as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in Metropolitan Bank by 11.7% in the 1st quarter. Royal Bank of Canada now owns 7,429 shares of the company’s stock valued at $416,000 after acquiring an additional 778 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Metropolitan Bank by 3.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company’s stock worth $350,000 after purchasing an additional 237 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Metropolitan Bank by 5.3% during the 1st quarter. Empowered Funds LLC now owns 42,268 shares of the company’s stock valued at $2,367,000 after purchasing an additional 2,126 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of Metropolitan Bank by 39.2% during the 2nd quarter. Quantbot Technologies LP now owns 6,074 shares of the company’s stock valued at $425,000 after purchasing an additional 1,709 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Metropolitan Bank by 854.7% during the second 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 in the last quarter. Institutional investors own 79.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MCB. UBS Group reduced their target price on Metropolitan Bank from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, July 28th. Keefe, Bruyette & Woods dropped their price target on Metropolitan Bank from $120.00 to $110.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Metropolitan Bank in a report on Friday, August 7th. Finally, Wall Street Zen downgraded Metropolitan Bank from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $105.00.

Insider Buying and Selling

In other Metropolitan Bank news, EVP Nick Rosenberg sold 1,807 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $100.42, for a total transaction of $181,458.94. Following the sale, the executive vice president directly owned 22,202 shares of the company’s stock, valued at $2,229,524.84. The trade was a 7.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Harvey Gutman sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $89.58, for a total value of $268,740.00. Following the sale, the director owned 18,243 shares in the company, valued at approximately $1,634,207.94. This trade represents a 14.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 29,897 shares of company stock valued at $2,797,252. Insiders own 5.50% of the company’s stock.

Metropolitan Bank Price Performance

MCB stock opened at $91.98 on Monday. Metropolitan Bank Holding Corp. has a 52 week low of $64.66 and a 52 week high of $102.04. The firm has a market capitalization of $1.14 billion, a P/E ratio of 11.64 and a beta of 0.99. The company has a fifty day simple moving average of $95.24 and a two-hundred day simple moving average of $90.60. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.02.

Metropolitan Bank (NYSE:MCB) last posted its earnings results on Tuesday, July 21st. The company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.76). The business had revenue of $93.01 million during the quarter, compared to the consensus estimate of $93.39 million. Metropolitan Bank had a return on equity of 10.22% and a net margin of 14.31%.

Metropolitan Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Friday, July 31st were given a $0.35 dividend. This is an increase from Metropolitan Bank’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, July 31st. Metropolitan Bank’s dividend payout ratio (DPR) is 17.72%.

Metropolitan Bank 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.