GSA Capital Partners LLP Acquires New Holdings in Metropolitan Bank Holding Corp. $MCB

GSA Capital Partners LLP bought a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,490 shares of the company’s stock, valued at approximately $937,000.

Other hedge funds also recently bought and sold shares of the company. Emerald Advisers LLC acquired a new stake in shares of Metropolitan Bank during the first quarter valued at about $25,000. Royal Bank of Canada lifted its holdings in shares of Metropolitan Bank by 70.4% in the 4th quarter. Royal Bank of Canada now owns 346 shares of the company’s stock worth $27,000 after acquiring an additional 143 shares during the last quarter. Quarry LP purchased a new position in shares of Metropolitan Bank during the 3rd quarter worth approximately $48,000. Kestra Advisory Services LLC purchased a new position in shares of Metropolitan Bank during the 4th quarter worth approximately $51,000. Finally, Avalon Trust Co acquired a new stake in Metropolitan Bank in the 2nd quarter valued at approximately $148,000. Hedge funds and other institutional investors own 79.83% of the company’s stock.

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 dated Monday, August 10th. The stock was sold at an average price of $92.29, for a total transaction of $922,900.00. Following the sale, the director owned 76,185 shares in the company, valued at $7,031,113.65. This represents a 11.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel F. Dougherty purchased 1,000 shares of the business’s stock in a transaction on Thursday, July 23rd. The shares were bought at an average price of $89.98 per share, for a total transaction of $89,980.00. Following the acquisition, the chief financial officer owned 33,197 shares in the company, valued at $2,987,066.06. This trade represents a 3.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 29,897 shares of company stock valued at $2,797,252 in the last three months. 5.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Metropolitan Bank Trading Down 0.8%

Shares of MCB stock opened at $92.58 on Wednesday. Metropolitan Bank Holding Corp. has a fifty-two week low of $64.66 and a fifty-two week high of $102.04. The company has a 50 day moving average price of $95.47 and a 200 day moving average price of $90.63. The stock has a market capitalization of $1.15 billion, a P/E ratio of 11.72 and a beta of 0.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 0.97.

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

Metropolitan Bank Increases Dividend

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

About Metropolitan Bank

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.