R Squared Ltd Makes New Investment in Metropolitan Bank Holding Corp. (NYSE:MCB)

R Squared Ltd acquired a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,550 shares of the company’s stock, valued at approximately $91,000.

Other institutional investors also recently modified their holdings of the company. Point72 DIFC Ltd bought a new stake in Metropolitan Bank in the second quarter valued at $27,000. USA Financial Formulas acquired a new position in Metropolitan Bank during the 4th quarter worth approximately $66,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Metropolitan Bank by 212.7% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company’s stock worth $71,000 after acquiring an additional 921 shares in the last quarter. CWM LLC grew its stake in Metropolitan Bank by 127.0% in the third quarter. CWM LLC now owns 1,780 shares of the company’s stock valued at $94,000 after acquiring an additional 996 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Metropolitan Bank during the third quarter valued at approximately $207,000. Institutional investors and hedge funds own 79.83% of the company’s stock.

Insider Activity

In other Metropolitan Bank news, EVP Scott Lublin sold 3,000 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $58.77, for a total transaction of $176,310.00. Following the completion of the transaction, the executive vice president now directly owns 52,253 shares of the company’s stock, valued at approximately $3,070,908.81. This represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nick Rosenberg sold 1,250 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $65.17, for a total transaction of $81,462.50. Following the sale, the executive vice president now directly owns 30,193 shares in the company, valued at $1,967,677.81. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. 6.50% of the stock is currently owned by corporate insiders.

Metropolitan Bank Price Performance

MCB opened at $64.11 on Friday. Metropolitan Bank Holding Corp. has a 1 year low of $32.46 and a 1 year high of $69.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $718.07 million, a price-to-earnings ratio of 12.05 and a beta of 1.17. The firm’s fifty day moving average price is $62.06 and its two-hundred day moving average price is $56.34.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.39. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. As a group, analysts anticipate that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Hovde Group increased their target price on Metropolitan Bank from $75.00 to $83.50 and gave the stock an “outperform” rating in a report on Monday. Keefe, Bruyette & Woods raised their price objective on shares of Metropolitan Bank from $73.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler boosted their target price on shares of Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th.

Metropolitan Bank 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.