Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 1,726.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,280 shares of the company's stock after purchasing an additional 141,107 shares during the quarter. JPMorgan Chase & Co. owned about 1.33% of Metropolitan Bank worth $8,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in MCB. The Manufacturers Life Insurance Company bought a new stake in shares of Metropolitan Bank in the 3rd quarter valued at about $207,000. XTX Topco Ltd acquired a new stake in Metropolitan Bank in the third quarter valued at approximately $357,000. Barclays PLC increased its position in shares of Metropolitan Bank by 54.1% during the third quarter. Barclays PLC now owns 23,461 shares of the company's stock worth $1,233,000 after purchasing an additional 8,233 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Metropolitan Bank by 44.8% during the 3rd quarter. Franklin Resources Inc. now owns 82,922 shares of the company's stock valued at $4,751,000 after purchasing an additional 25,654 shares during the last quarter. Finally, Kings Path Partners LLC boosted its position in shares of Metropolitan Bank by 11.2% in the 4th quarter. Kings Path Partners LLC now owns 14,110 shares of the company's stock worth $824,000 after purchasing an additional 1,420 shares in the last quarter. Institutional investors own 79.83% of the company's stock.

Metropolitan Bank Stock Performance

Shares of NYSE:MCB traded up $1.03 on Friday, hitting $54.43. 99,060 shares of the company were exchanged, compared to its average volume of 91,250. The firm has a market capitalization of $610.92 million, a P/E ratio of 9.19 and a beta of 0.95. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. Metropolitan Bank Holding Corp. has a 1-year low of $37.10 and a 1-year high of $69.56. The stock's 50 day moving average price is $55.80 and its 200 day moving average price is $59.04.

Metropolitan Bank (NYSE:MCB - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.49 by $0.39. Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. Sell-side analysts predict that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Insider Activity at Metropolitan Bank

In other Metropolitan Bank news, Director Dale C. Fredston sold 1,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.27, for a total transaction of $62,270.00. Following the sale, the director now directly owns 17,668 shares of the company's stock, valued at approximately $1,100,186.36. This trade represents a 5.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark R. Defazio sold 15,088 shares of Metropolitan Bank stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $54.78, for a total value of $826,520.64. Following the transaction, the chief executive officer now owns 100,628 shares of the company's stock, valued at $5,512,401.84. The trade was a 13.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,088 shares of company stock worth $1,161,791 over the last quarter. Insiders own 6.50% of the company's stock.

Analyst Ratings Changes

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

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.