Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report) Director Chaya Pamula acquired 450 shares of Metropolitan Bank stock in a transaction on Thursday, October 24th. The shares were bought at an average price of $54.29 per share, with a total value of $24,430.50. Following the purchase, the director now directly owns 6,513 shares in the company, valued at approximately $353,590.77. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.
Metropolitan Bank Stock Down 2.5 %
Shares of MCB opened at $52.78 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm has a market cap of $590.61 million, a PE ratio of 9.92 and a beta of 1.13. The company's fifty day moving average is $52.64 and its two-hundred day moving average is $46.51. Metropolitan Bank Holding Corp. has a fifty-two week low of $31.35 and a fifty-two week high of $64.10.
Institutional Investors Weigh In On Metropolitan Bank
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCB. Millennium Management LLC acquired a new position in shares of Metropolitan Bank in the 2nd quarter valued at about $4,991,000. Price T Rowe Associates Inc. MD acquired a new position in Metropolitan Bank during the 1st quarter valued at about $1,876,000. Assenagon Asset Management S.A. boosted its stake in Metropolitan Bank by 112.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 89,193 shares of the company's stock valued at $4,690,000 after purchasing an additional 47,193 shares during the period. Empowered Funds LLC acquired a new position in Metropolitan Bank during the 1st quarter valued at about $1,303,000. Finally, Marshall Wace LLP lifted its position in Metropolitan Bank by 193.1% in the second quarter. Marshall Wace LLP now owns 50,350 shares of the company's stock worth $2,119,000 after purchasing an additional 33,171 shares during the period. Hedge funds and other institutional investors own 79.83% of the company's stock.
Wall Street Analysts Forecast Growth
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Several equities research analysts recently issued reports on the company. Hovde Group lifted their price objective on Metropolitan Bank from $65.50 to $68.00 and gave the stock an "outperform" rating in a report on Monday, October 21st. JPMorgan Chase & Co. increased their target price on Metropolitan Bank from $55.00 to $70.00 and gave the company an "overweight" rating in a report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods reiterated 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.
Check Out Our Latest Stock Analysis on MCB
About Metropolitan Bank
(
Get Free Report)
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.
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