GAMMA Investing LLC Has $1.87 Million Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

GAMMA Investing LLC lifted its holdings in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 21,710.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,370 shares of the company's stock after buying an additional 33,217 shares during the period. GAMMA Investing LLC owned about 0.30% of Metropolitan Bank worth $1,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MCB. Wellington Management Group LLP acquired a new position in Metropolitan Bank in the 4th quarter valued at approximately $12,109,000. JPMorgan Chase & Co. raised its holdings in shares of Metropolitan Bank by 1,726.5% during the fourth quarter. JPMorgan Chase & Co. now owns 149,280 shares of the company's stock worth $8,718,000 after acquiring an additional 141,107 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Metropolitan Bank by 68.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,819 shares of the company's stock worth $807,000 after acquiring an additional 5,624 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Metropolitan Bank during the fourth quarter worth $1,405,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Metropolitan Bank by 25.4% during the fourth quarter. Wells Fargo & Company MN now owns 6,511 shares of the company's stock worth $380,000 after acquiring an additional 1,320 shares in the last quarter. Institutional investors and hedge funds own 79.83% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Metropolitan Bank

In other news, CEO Mark R. Defazio sold 20,517 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $65.43, for a total value of $1,342,427.31. Following the sale, the chief executive officer now directly owns 94,185 shares of the company's stock, valued at approximately $6,162,524.55. This trade represents a 17.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark R. Defazio sold 23,114 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $65.43, for a total value of $1,512,349.02. Following the completion of the sale, the chief executive officer now directly owns 94,185 shares in the company, valued at approximately $6,162,524.55. This represents a 19.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,200 shares of company stock worth $3,455,729 over the last three months. Corporate insiders own 6.09% of the company's stock.

Metropolitan Bank Stock Up 0.3%

Shares of NYSE:MCB traded up $0.19 during midday trading on Wednesday, hitting $64.74. 95,610 shares of the stock were exchanged, compared to its average volume of 92,421. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.98 and a current ratio of 0.98. Metropolitan Bank Holding Corp. has a 52-week low of $38.56 and a 52-week high of $69.56. The business's fifty day simple moving average is $62.39 and its two-hundred day simple moving average is $60.41. The company has a market capitalization of $690.14 million, a PE ratio of 10.95 and a beta of 1.08.

Metropolitan Bank (NYSE:MCB - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.16). Metropolitan Bank had a return on equity of 10.53% and a net margin of 13.49%. The firm had revenue of $70.59 million for the quarter, compared to analysts' expectations of $67.62 million. During the same quarter in the prior year, the business posted $1.46 earnings per share. As a group, research analysts predict that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal 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.