Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Purchased by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC raised its stake in Metropolitan Bank Holding Corp. (NYSE:MCB) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,998 shares of the company’s stock after acquiring an additional 224 shares during the period. Metropolitan Bank accounts for approximately 0.7% of SummerHaven Investment Management LLC’s portfolio, making the stock its 20th largest position. SummerHaven Investment Management LLC’s holdings in Metropolitan Bank were worth $1,008,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP acquired a new position in shares of Metropolitan Bank in the 4th quarter valued at $12,109,000. JPMorgan Chase & Co. grew its position in Metropolitan Bank by 1,726.5% during the 4th quarter. JPMorgan Chase & Co. now owns 149,280 shares of the company’s stock worth $8,718,000 after purchasing an additional 141,107 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Metropolitan Bank by 16.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 291,235 shares of the company’s stock valued at $17,008,000 after purchasing an additional 41,449 shares during the period. Royce & Associates LP purchased a new stake in shares of Metropolitan Bank in the fourth quarter valued at about $2,174,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Metropolitan Bank in the fourth quarter valued at about $1,982,000. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Insider Buying and Selling at Metropolitan Bank

In other news, CEO Mark R. Defazio sold 15,088 shares of Metropolitan Bank stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $54.78, for a total value of $826,520.64. Following the sale, the chief executive officer now owns 100,628 shares of the company’s stock, valued at $5,512,401.84. The trade was a 13.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott Lublin sold 5,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.60, for a total transaction of $273,000.00. Following the transaction, the executive vice president now owns 49,988 shares in the company, valued at approximately $2,729,344.80. This trade represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,657 shares of company stock valued at $1,700,473. 6.09% of the stock is owned by company insiders.

Metropolitan Bank Stock Performance

Shares of MCB stock opened at $65.82 on Thursday. The stock’s 50-day moving average price is $60.93 and its 200 day moving average price is $60.47. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $701.64 million, a PE ratio of 11.12 and a beta of 1.08. Metropolitan Bank Holding Corp. has a 52-week low of $37.10 and a 52-week high of $69.56.

Metropolitan Bank (NYSE:MCB) last released its earnings results on Monday, April 21st. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.16). Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. The company had revenue of $70.59 million during the quarter, compared to analyst estimates of $67.62 million. During the same period in the previous year, the firm posted $1.46 EPS. As a group, equities research analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

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.