11,120 Shares in Metropolitan Bank Holding Corp. $MCB Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 11,120 shares of Metropolitan Bank Holding Corp. in the second quarter, valued at approximately $1.1 million. Institutional investors collectively own 79.83% of the company.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Buy” rating and a $105 average price target, although UBS and Keefe, Bruyette & Woods recently lowered their targets.
• Metropolitan Bank reported quarterly EPS of $1.54, below the $2.30 consensus estimate, while raising its quarterly dividend from $0.25 to $0.35 per share.

Deutsche Bank AG acquired a new stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,120 shares of the company's stock, valued at approximately $1,098,000. Deutsche Bank AG owned about 0.09% of Metropolitan Bank as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Emerald Advisers LLC bought a new position in shares of Metropolitan Bank during the 1st quarter valued at $25,000. Royal Bank of Canada boosted its position in Metropolitan Bank by 70.4% in the fourth quarter. Royal Bank of Canada now owns 346 shares of the company's stock worth $27,000 after purchasing an additional 143 shares during the last quarter. Quarry LP bought a new stake in shares of Metropolitan Bank during the 3rd quarter valued at about $48,000. Kestra Advisory Services LLC bought a new stake in shares of Metropolitan Bank during the 4th quarter valued at about $51,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Metropolitan Bank by 41.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,670 shares of the company's stock valued at $117,000 after purchasing an additional 490 shares during the last quarter. Institutional investors own 79.83% of the company's stock.

Insiders Place Their Bets

In other Metropolitan Bank news, CFO Daniel F. Dougherty bought 1,000 shares of the firm's stock in a transaction dated Thursday, July 23rd. The stock was acquired at an average cost of $89.98 per share, for a total transaction of $89,980.00. Following the completion of the transaction, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nick Rosenberg sold 1,807 shares of the business's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $100.42, for a total transaction of $181,458.94. Following the completion of the sale, the executive vice president directly owned 22,202 shares of the company's stock, valued at approximately $2,229,524.84. This trade represents a 7.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 26,897 shares of company stock worth $2,528,512 over the last quarter. Company insiders own 5.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MCB. Weiss Ratings reiterated a "buy (b)" rating on shares of Metropolitan Bank in a research report on Friday, August 7th. Wall Street Zen lowered Metropolitan Bank from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Keefe, Bruyette & Woods decreased their price objective 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. Finally, UBS Group reduced their target price on shares of Metropolitan Bank from $110.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $105.00.

Metropolitan Bank Stock Up 0.2%

Shares of MCB opened at $91.93 on Monday. The business's 50 day simple moving average is $94.94 and its 200-day simple moving average is $90.46. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 11.64 and a beta of 0.99. Metropolitan Bank Holding Corp. has a 1 year low of $64.66 and a 1 year high of $102.04.

Metropolitan Bank (NYSE:MCB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.76). The company had revenue of $93.01 million for the quarter, compared to the consensus estimate 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st were paid a dividend of $0.35 per share. This is a positive change from Metropolitan Bank's previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, July 31st. Metropolitan Bank's payout ratio is currently 17.72%.

Metropolitan Bank 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.

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