Boothbay Fund Management LLC Makes New $1.98 Million Investment in Metropolitan Bank Holding Corp. (NYSE:MCB)

Boothbay Fund Management LLC purchased a new position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 33,930 shares of the company's stock, valued at approximately $1,982,000. Boothbay Fund Management LLC owned approximately 0.30% of Metropolitan Bank as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MCB. Picton Mahoney Asset Management lifted its holdings in Metropolitan Bank by 46.9% during the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company's stock worth $30,000 after purchasing an additional 161 shares during the last quarter. USA Financial Formulas acquired a new stake in Metropolitan Bank during the 4th quarter worth approximately $66,000. R Squared Ltd bought a new stake in shares of Metropolitan Bank in the 4th quarter valued at about $91,000. KLP Kapitalforvaltning AS bought a new position in Metropolitan Bank during the fourth quarter worth $128,000. Finally, Virtu Financial LLC acquired a new position in Metropolitan Bank in the fourth quarter valued at approximately $221,000. Institutional investors own 79.83% of the company's stock.

Metropolitan Bank Stock Up 2.5 %

Shares of NYSE MCB traded up $1.53 during midday trading on Friday, hitting $63.52. The stock had a trading volume of 113,741 shares, compared to its average volume of 92,906. The business's 50 day moving average is $55.74 and its 200-day moving average is $59.35. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.36. The company has a market cap of $702.91 million, a P/E ratio of 10.73 and a beta of 0.95. Metropolitan Bank Holding Corp. has a 52 week low of $37.10 and a 52 week high of $69.56.

Metropolitan Bank (NYSE:MCB - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.16). Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. The business had revenue of $70.59 million during the quarter, compared to analysts' expectations of $67.62 million. During the same quarter in the previous year, the firm earned $1.46 earnings per share. As a group, analysts predict that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Insider Activity at Metropolitan Bank

In other news, SVP Norman Scott sold 3,293 shares of the stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $60.57, for a total transaction of $199,457.01. Following the sale, the senior vice president now owns 12,546 shares of the company's stock, valued at approximately $759,911.22. This represents a 20.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dale C. Fredston sold 1,000 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $62.27, for a total value of $62,270.00. Following the completion of the sale, the director now owns 17,668 shares in the company, valued at approximately $1,100,186.36. This represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,381 shares of company stock worth $1,361,248 in the last 90 days. 6.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Hovde Group increased their price target on Metropolitan Bank from $75.00 to $83.50 and gave the company an "outperform" rating in a research report on Monday, January 27th.

About Metropolitan Bank

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.