GAMMA Investing LLC Boosts Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

GAMMA Investing LLC lifted its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 21,710.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,370 shares of the company's stock after acquiring an additional 33,217 shares during the period. GAMMA Investing LLC owned 0.30% of Metropolitan Bank worth $1,868,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MCB. Picton Mahoney Asset Management boosted its holdings in shares of Metropolitan Bank by 46.9% in the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company's stock valued at $30,000 after buying an additional 161 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Metropolitan Bank in the 4th quarter valued at $128,000. Virtu Financial LLC acquired a new position in Metropolitan Bank during the fourth quarter worth approximately $221,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Metropolitan Bank by 3.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,020 shares of the company's stock worth $352,000 after buying an additional 182 shares during the period. Finally, MetLife Investment Management LLC increased its position in Metropolitan Bank by 9.8% during the fourth quarter. MetLife Investment Management LLC now owns 6,239 shares of the company's stock worth $364,000 after buying an additional 556 shares during the period. Institutional investors and hedge funds own 79.83% of the company's stock.

Insider Transactions at Metropolitan Bank

In related news, CEO Mark R. Defazio sold 20,517 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $65.43, for a total transaction of $1,342,427.31. Following the transaction, the chief executive officer now owns 94,185 shares of the company's stock, valued at $6,162,524.55. This represents a 17.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Norman Scott sold 3,293 shares of the company's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $60.57, for a total value of $199,457.01. Following the transaction, the senior vice president now directly owns 12,546 shares in the company, valued at $759,911.22. This represents a 20.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,200 shares of company stock worth $3,455,729. Company insiders own 6.09% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group lifted their price target on Metropolitan Bank from $75.00 to $79.00 and gave the stock an "outperform" rating in a research report on Monday.

Metropolitan Bank Stock Performance

MCB traded up $2.02 during trading on Monday, hitting $66.00. 12,384 shares of the stock were exchanged, compared to its average volume of 92,327. The firm has a market capitalization of $703.51 million, a P/E ratio of 11.15 and a beta of 1.08. Metropolitan Bank Holding Corp. has a 1-year low of $37.10 and a 1-year high of $69.56. The stock has a fifty day moving average price of $61.57 and a two-hundred day moving average price of $60.35. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.36.

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

Metropolitan Bank Profile

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.