Squarepoint Ops LLC Has $798,000 Stake in Metropolitan Bank Holding Corp. $MCB

Key Points

• Squarepoint Ops LLC reduced its Metropolitan Bank stake by 67.7% in the second quarter, selling 16,970 shares and retaining 8,084 shares valued at approximately $798,000. Institutional investors and hedge funds collectively own 79.83% of the company.
• Metropolitan Bank reported quarterly EPS of $1.54, missing the $2.30 consensus estimate, while revenue of $93.01 million was slightly below expectations. The company increased its quarterly dividend from $0.25 to $0.35, implying a 1.6% yield.
• Analyst sentiment remains broadly positive, with an average rating of “Buy” and an average price target of $105 versus the reported share price of $89.06. However, UBS and Keefe, Bruyette & Woods recently lowered their price targets.

Squarepoint Ops LLC cut its position in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 67.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,084 shares of the company's stock after selling 16,970 shares during the quarter. Squarepoint Ops LLC owned approximately 0.07% of Metropolitan Bank worth $798,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Emerald Advisers LLC bought a new position in shares of Metropolitan Bank during the 1st quarter worth approximately $25,000. Royal Bank of Canada grew its stake in Metropolitan Bank by 272.0% during the first quarter. Royal Bank of Canada now owns 1,287 shares of the company's stock worth $108,000 after buying an additional 941 shares during the last quarter. Avalon Trust Co acquired a new stake in shares of Metropolitan Bank during the second quarter worth approximately $148,000. Diversified Trust Co bought a new position in shares of Metropolitan Bank in the first quarter valued at approximately $223,000. Finally, R Squared Ltd bought a new stake in shares of Metropolitan Bank during the first quarter worth $261,000. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Metropolitan Bank Trading Up 0.1%

Shares of NYSE:MCB opened at $89.06 on Friday. Metropolitan Bank Holding Corp. has a 12-month low of $64.66 and a 12-month high of $102.04. The stock has a market cap of $1.10 billion, a PE ratio of 11.27 and a beta of 0.97. The business has a 50 day moving average of $92.78 and a 200-day moving average of $90.35. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.02.

Metropolitan Bank (NYSE:MCB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $1.54 EPS for the quarter, missing analysts' consensus estimates 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 business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Friday, July 31st were given a $0.35 dividend. This is a boost from Metropolitan Bank's previous quarterly dividend of $0.25. The ex-dividend date was Friday, July 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.6%. Metropolitan Bank's dividend payout ratio is presently 17.72%.

Insider Buying and Selling

In other Metropolitan Bank news, Director Dale C. Fredston sold 2,000 shares of the firm's stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $89.09, for a total value of $178,180.00. Following the transaction, the director directly owned 14,668 shares of the company's stock, valued at approximately $1,306,772.12. This trade represents a 12.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel F. Dougherty acquired 1,000 shares of the company's stock in a transaction on Thursday, July 23rd. The shares were bought at an average price of $89.98 per share, for a total transaction of $89,980.00. Following the completion of the purchase, the chief financial officer owned 33,197 shares in the company, valued at approximately $2,987,066.06. This represents a 3.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 13,897 shares of company stock worth $1,291,542. Corporate insiders own 5.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Metropolitan Bank from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Weiss Ratings restated a "buy (b)" rating on shares of Metropolitan Bank in a report on Friday, August 7th. UBS Group reduced their price target on Metropolitan Bank from $110.00 to $100.00 and set a "neutral" rating for the company in a research report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods lowered their price target on Metropolitan Bank from $120.00 to $110.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $105.00.

Metropolitan Bank Profile

Metropolitan Bank is the bank holding company for Metropolitan Commercial Bank, a full-service commercial bank headquartered in New York City. Founded in 1999, the bank provides banking and financial services to businesses, nonprofit organizations, public entities, entrepreneurs and individual customers.

Its offerings include commercial and industrial lending, commercial real estate and multifamily loans, residential lending, business and consumer deposit accounts, treasury management, cash-management services and private banking.

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