SG Americas Securities LLC buys a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB)

VaselineAugust 24, 2024

0 3 minutes read

SG Americas Securities LLC acquired a new position in Metropolitan Bank Holding Corp. (NYSE:MCB – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 6,481 shares of the company’s stock, valued at approximately $273,000. SG Americas Securities LLC owned about 0.06% of Metropolitan Bank as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Basswood Capital Management LLC boosted its holdings in shares of Metropolitan Bank by 226.5% in the fourth quarter. Basswood Capital Management LLC now owns 159,279 shares of the company’s stock worth $8,821,000 after buying an additional 110,493 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Metropolitan Bank in the 1st quarter worth about $1,876,000. Empowered Funds LLC purchased a new stake in shares of Metropolitan Bank in the 1st quarter worth about $1,303,000. Assenagon Asset Management SA bought a new position in shares of Metropolitan Bank in the first quarter valued at about $1,210,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of Metropolitan Bank by 133.4% in the first quarter. Acadian Asset Management LLC now owns 48,548 shares of the company’s stock valued at $1,867,000 after buying an additional 27,752 shares in the last quarter. Institutional investors own 79.83% of the company’s shares.

Analyst upgrades and downgrades

MCB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $67.50 target price (up previously from $55.00) on shares of Metropolitan Bank in a research note on Tuesday, July 23rd . JPMorgan Chase & Co. upped their target price on shares of Metropolitan Bank from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd.

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Read the latest stock report on Metropolitan Bank

Insider Buying and Selling at Metropolitan Bank

In other Metropolitan Bank news, Director George J. Wolf, Jr. purchased 1,183 shares of Metropolitan Bank stock in a transaction dated Monday, June 10th. The shares were purchased at an average cost of $39.00 per share, for a total transaction of $46,137.00. Following the completion of the acquisition, the director now owns 27,995 shares in the company, valued at approximately $1,091,805. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other Metropolitan Bank news, CEO Mark R. Defazio sold 34,986 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $55.34, for a total value of $1,936,125.24. Following the completion of the sale, the chief executive officer now directly owns 181,208 shares of the company’s stock, valued at approximately $10,028,050.72. The transaction was disclosed in a filing with the SEC, which is available via this link. Also, Director George J. Wolf, Jr. purchased 1,183 shares of Metropolitan Bank stock in a transaction dated Monday, June 10th. The shares were bought at an average cost of $39.00 per share, for a total transaction of $46,137.00. Following the completion of the transaction, the director now owns 27,995 shares of the company’s stock, valued at approximately $1,091,805. Disclosure for this purchase can be found here. Company insiders own 6.50% of the company’s shares.

Shares in Metropolitan Bank fell 1.1%

Shares of MCB stock opened at $48.26 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01, and a debt-to-equity ratio of 0.61. The company has a fifty day moving average of $46.10 and a 200 day moving average of $42.25. The company has a market cap of $540.17 million, a PE ratio of 7.94 and a beta of 1.16. Metropolitan Bank Holding Corp. it has a 52-week low of $30.20 and a 52-week high of $57.69.

Metropolitan Bank (NYSE:MCB – Get Free Report ) last posted its earnings results on Thursday, July 18th. The company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.07). The firm had revenue of $121.90 million during the quarter, compared to the consensus estimate of $68.02 million. Metropolitan Bank had a return on equity of 10.62% and a net margin of 15.22%. In the same quarter last year, the business posted EPS of $1.37. On average, sell-side analysts expect that Metropolitan Bank Holding Corp. to post 6.03 EPS for the current year.

About Metropolitan Bank

(Free report)

Metropolitan Bank Holding Corp. operates as the bank holding company for Metropolitan Commercial Bank, which provides a wide range of business, commercial and retail banking products and services to small businesses, middle market businesses, public entities and individuals in the New York metropolitan area. .