Metropolitan Bank Holding Corp. $MCB Shares Newly Purchased by Kings Path Partners LLC

Kings Path Partners LLC bought a new position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,460 shares of the company’s stock, valued at approximately $563,000. Kings Path Partners LLC owned 0.05% of Metropolitan Bank as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of MCB. BlackRock Inc. bought a new stake in shares of Metropolitan Bank during the second quarter worth approximately $119,413,000. Dimensional Fund Advisors LP increased its position in Metropolitan Bank by 7.6% during the first quarter. Dimensional Fund Advisors LP now owns 459,791 shares of the company’s stock worth $38,295,000 after acquiring an additional 32,662 shares during the period. Basswood Capital Management L.L.C. bought a new position in Metropolitan Bank during the 2nd quarter worth $20,776,000. Bank of New York Mellon Corp acquired a new position in shares of Metropolitan Bank in the 2nd quarter valued at approximately $19,295,000. Finally, Bank of America Corp DE lifted its position in shares of Metropolitan Bank by 611.9% during the 1st quarter. Bank of America Corp DE now owns 141,613 shares of the company’s stock worth $11,795,000 after buying an additional 121,721 shares during the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.

Wall Street Analyst Weigh In

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

Key Stories Impacting Metropolitan Bank

Here are the key news stories impacting Metropolitan Bank this week:

• Positive Sentiment: Strong earnings beat: Third-quarter diluted EPS reached $2.58, exceeding the $2.38 analyst consensus, while revenue of $100.6 million topped expectations of $97.05 million. Net income rose to $32.4 million from $19.2 million in the second quarter and $7.1 million a year earlier. MCB Reports Third-Quarter Results
• Positive Sentiment: Core banking growth accelerated: Net interest income increased 26.3% year over year to $97.6 million, and net interest margin expanded to 4.36%. Loans grew by $205 million sequentially to $7.5 billion, while deposits increased by $589.1 million to $8.3 billion. Metropolitan Bank Q3 Earnings and Revenue
• Positive Sentiment: Management offered a constructive outlook: The third-quarter earnings call highlighted continued growth opportunities, supported by loan and deposit momentum and improved profitability. This outlook helped reinforce expectations for further earnings growth. Metropolitan Bank Signals Strong Growth Ahead
• Positive Sentiment: Dividend increased: MCB raised its quarterly cash dividend to $0.40 per share from $0.35, payable November 10 to shareholders of record October 30. The increase signals confidence in capital generation and modestly improves shareholder income. Metropolitan Bank Raises Dividend
• Negative Sentiment: Insider selling remains a consideration: Recent insider activity included substantially more sales than purchases over the past six months, although this signal is secondary to the latest earnings and operating performance.

Metropolitan Bank Stock Performance

Shares of MCB opened at $91.52 on Thursday. Metropolitan Bank Holding Corp. has a one year low of $64.66 and a one year high of $102.04. The company has a market cap of $1.13 billion, a PE ratio of 9.06 and a beta of 1.03. The stock has a 50-day moving average of $89.82 and a 200-day moving average of $91.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.97 and a quick ratio of 0.97.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.20. Metropolitan Bank had a return on equity of 12.63% and a net margin of 18.03%. The business had revenue of $100.56 million for the quarter, compared to the consensus estimate of $97.05 million.

Metropolitan Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Friday, October 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, October 30th. Metropolitan Bank’s dividend payout ratio is presently 17.72%.

Insider Buying and Selling

In other Metropolitan Bank news, Director Robert C. Patent sold 10,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $92.29, for a total transaction of $922,900.00. Following the transaction, the director owned 76,185 shares in the company, valued at approximately $7,031,113.65. This represents a 11.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Dale C. Fredston sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $89.09, for a total transaction of $178,180.00. Following the completion of the transaction, the director directly owned 14,668 shares in the company, valued at approximately $1,306,772.12. The trade was a 12.00% decrease in their position. The SEC filing for this sale provides additional information. 5.50% of the stock is owned by corporate insiders.

Metropolitan Bank Profile

Metropolitan Bank Holding Corp. is the parent company of Metropolitan Commercial Bank, a full-service commercial bank headquartered in New York City. Founded in 1999, the bank provides banking services to businesses, nonprofit organizations, public-sector entities, professional service firms and individuals.

Metropolitan Commercial Bank’s products and services include commercial and consumer loans, deposit accounts, cash-management and treasury-management services, online and mobile banking, and other financial solutions.