Segall Bryant & Hamill LLC Invests $1.47 Million in Metropolitan Bank Holding Corp. $MCB

Segall Bryant & Hamill LLC acquired a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB) during the first quarter, HoldingsChannel.com reports. The fund acquired 17,683 shares of the company’s stock, valued at approximately $1,473,000.

Other large investors also recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of Metropolitan Bank by 611.9% during the first 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 period. Royal Bank of Canada lifted its holdings in Metropolitan Bank by 272.0% in the first quarter. Royal Bank of Canada now owns 1,287 shares of the company’s stock valued at $108,000 after buying an additional 941 shares during the period. Quantinno Capital Management LP lifted its holdings in Metropolitan Bank by 26.0% in the first quarter. Quantinno Capital Management LP now owns 8,112 shares of the company’s stock valued at $676,000 after buying an additional 1,676 shares during the period. Lazard Asset Management LLC boosted its position in Metropolitan Bank by 6.3% during the first quarter. Lazard Asset Management LLC now owns 6,026 shares of the company’s stock valued at $502,000 after acquiring an additional 355 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Metropolitan Bank during the first quarter valued at $1,033,000. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCB has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their price target on Metropolitan Bank from $120.00 to $110.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. UBS Group cut their target price on Metropolitan Bank from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 28th. Wall Street Zen lowered Metropolitan Bank from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Weiss Ratings raised Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $105.00.

Insider Activity at Metropolitan Bank

In other news, CFO Daniel F. Dougherty bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The stock was acquired at an average cost of $89.98 per share, with a total value of $89,980.00. Following the transaction, the chief financial officer directly owned 33,197 shares of the company’s stock, valued at approximately $2,987,066.06. This represents a 3.11% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nick Rosenberg sold 1,807 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $100.42, for a total value of $181,458.94. Following the transaction, the executive vice president directly owned 22,202 shares in the company, valued at approximately $2,229,524.84. This trade represents a 7.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 19,897 shares of company stock worth $1,874,352 over the last quarter. Company insiders own 5.50% of the company’s stock.

Metropolitan Bank Stock Up 2.2%

Metropolitan Bank stock opened at $94.69 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.97 and a debt-to-equity ratio of 0.02. Metropolitan Bank Holding Corp. has a 12-month low of $64.66 and a 12-month high of $102.04. The firm’s fifty day moving average is $94.82 and its 200 day moving average is $90.13. The company has a market capitalization of $1.17 billion, a PE ratio of 11.99 and a beta of 0.99.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.76). The company had revenue of $93.01 million during the quarter, compared to analyst estimates of $93.39 million. Metropolitan Bank had a return on equity of 10.22% and a net margin of 14.31%.

Metropolitan Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st will be given a dividend of $0.35 per share. This is a boost from Metropolitan Bank’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. Metropolitan Bank’s payout ratio is currently 17.72%.

Metropolitan Bank Company Profile

Metropolitan Bank (NYSE:MCB), through its principal subsidiary Metropolitan Commercial Bank, operates as a New York–based regional financial institution providing a range of commercial and consumer banking services. The company offers deposit products including checking, savings and money market accounts, as well as business and personal certificates of deposit. On the lending side, Metropolitan Bank extends commercial real estate financing, equipment loans, working capital lines of credit and consumer installment loans tailored to the needs of small- and medium-sized enterprises and individual customers.

In addition to traditional deposit and lending services, Metropolitan Bank provides specialized treasury and cash-management solutions, foreign exchange services and letters of credit for both domestic businesses and multinational clients.