Ranger Investment Management L.P. Has $10.54 Million Stake in Metropolitan Bank Holding Corp. $MCB

Ranger Investment Management L.P. lifted its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 7.4% during the second quarter, HoldingsChannel reports. The firm owned 150,505 shares of the company’s stock after acquiring an additional 10,385 shares during the quarter. Ranger Investment Management L.P.’s holdings in Metropolitan Bank were worth $10,535,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MCB. Tower Research Capital LLC TRC increased its stake in Metropolitan Bank by 41.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,670 shares of the company’s stock worth $117,000 after purchasing an additional 490 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Metropolitan Bank in the second quarter valued at approximately $208,000. Strs Ohio acquired a new position in shares of Metropolitan Bank in the first quarter valued at approximately $218,000. Corton Capital Inc. bought a new stake in shares of Metropolitan Bank during the second quarter worth $244,000. Finally, Quantinno Capital Management LP bought a new stake in shares of Metropolitan Bank during the second quarter worth $329,000. Institutional investors own 79.83% of the company’s stock.

Insider Activity

In other news, CFO Daniel F. Dougherty bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was acquired at an average cost of $71.66 per share, for a total transaction of $71,660.00. Following the purchase, the chief financial officer owned 27,341 shares of the company’s stock, valued at approximately $1,959,256.06. This trade represents a 3.80% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Scott Lublin sold 5,000 shares of Metropolitan Bank stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $74.36, for a total value of $371,800.00. Following the transaction, the executive vice president owned 41,179 shares of the company’s stock, valued at $3,062,070.44. The trade was a 10.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have bought 1,167 shares of company stock valued at $83,010 and have sold 7,500 shares valued at $566,688. 6.09% of the stock is owned by insiders.

Metropolitan Bank Price Performance

Shares of NYSE MCB opened at $79.93 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. The business has a 50-day moving average of $72.85 and a 200-day moving average of $72.77. The stock has a market capitalization of $823.25 million, a price-to-earnings ratio of 13.88 and a beta of 1.14. Metropolitan Bank Holding Corp. has a fifty-two week low of $47.08 and a fifty-two week high of $82.38.

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

Metropolitan Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Thursday, October 30th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, October 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. Metropolitan Bank’s payout ratio is currently 10.42%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MCB shares. Zacks Research lowered shares of Metropolitan Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Keefe, Bruyette & Woods cut their price target on Metropolitan Bank from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Metropolitan Bank in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Metropolitan Bank has a consensus rating of “Moderate Buy” and a consensus target price of $84.50.

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.