Jupiter Asset Management Ltd. Invests $1.66 Million in Metropolitan Bank Holding Corp. $MCB

Jupiter Asset Management Ltd. purchased a new stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 23,774 shares of the company’s stock, valued at approximately $1,664,000. Jupiter Asset Management Ltd. owned about 0.23% of Metropolitan Bank as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Jump Financial LLC boosted its holdings in shares of Metropolitan Bank by 45.4% in the 1st quarter. Jump Financial LLC now owns 13,405 shares of the company’s stock worth $751,000 after acquiring an additional 4,187 shares in the last quarter. Vanguard Group Inc. boosted its stake in Metropolitan Bank by 3.7% in the first quarter. Vanguard Group Inc. now owns 669,219 shares of the company’s stock worth $37,470,000 after purchasing an additional 23,859 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Metropolitan Bank by 11.0% during the first quarter. American Century Companies Inc. now owns 272,605 shares of the company’s stock worth $15,263,000 after purchasing an additional 27,014 shares during the last quarter. Invesco Ltd. increased its stake in shares of Metropolitan Bank by 145.1% in the first quarter. Invesco Ltd. now owns 71,207 shares of the company’s stock valued at $3,987,000 after buying an additional 42,156 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in Metropolitan Bank during the 1st quarter worth about $1,771,000. 79.83% of the stock is owned by institutional investors.

Insider Transactions at Metropolitan Bank

In other Metropolitan Bank news, Director Robert C. Patent sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $79.02, for a total transaction of $395,100.00. Following the transaction, the director owned 98,685 shares of the company’s stock, valued at $7,798,088.70. The trade was a 4.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Terence J. Mitchell sold 4,796 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $72.44, for a total transaction of $347,422.24. Following the completion of the transaction, the director directly owned 13,230 shares of the company’s stock, valued at $958,381.20. This represents a 26.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders purchased 1,167 shares of company stock valued at $83,010 and sold 24,671 shares valued at $1,858,653. 6.09% of the stock is owned by company insiders.

Metropolitan Bank Trading Up 0.1%

NYSE MCB opened at $69.07 on Friday. Metropolitan Bank Holding Corp. has a 52 week low of $47.08 and a 52 week high of $81.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. The stock’s 50 day moving average price is $73.87 and its two-hundred day moving average price is $71.24. The stock has a market capitalization of $711.42 million, a price-to-earnings ratio of 11.99 and a beta of 1.13.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($1.28). Metropolitan Bank had a return on equity of 8.71% and a net margin of 12.46%.The business had revenue of $79.84 million during the quarter, compared to the consensus estimate of $78.28 million. As a group, analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

Metropolitan Bank declared that its board has authorized a share repurchase program on Thursday, July 17th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Metropolitan Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Thursday, October 30th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $0.60 annualized dividend and a yield of 0.9%. Metropolitan Bank’s dividend payout ratio is 10.42%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MCB shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Metropolitan Bank in a research note on Wednesday, October 8th. Zacks Research cut shares of Metropolitan Bank from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Metropolitan Bank from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.00.

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.